Alberta does not have living wills. Instead, we have personal directives. You may not be able to make decisions if you suffer a serious:
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injury – like from a car accident
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illness – like a heart attack or disease
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A personal directive is a legal document you make in case you can not make your own personal decisions in the future. A personal directive:
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is optional and voluntary
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names the person or people you have picked to make personal decisions for you – a person you name on the personal directive is called an agent
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makes sure your written instructions are known in case something happens to you
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only comes into effect if you are found to lack capacity – that means you are not able to make your own decisions
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When you make a personal directive, the person or people you pick to be your agent have legal authority to make personal decisions for you. This could be temporary or long term.
Incorporations, Trade Names & Partnerships
We Can Help U decide which type of registration you need. Sometimes, people think they need a Federal Incorporation because they are going to be doing business in all provinces, over the Internet, but that is not the truth in most cases. A company is responsible for all money earned from all sources internationally, federally, provincially, or locally. If you register Federally you must choose a Province to have your Corporate head office and tax payments calculated. Your company is registered in that Province and subject to the contract rules and taxation standards of that province. Alberta has the best Provincial Tax system in the country and Alberta businesses pay the tax at the lowest rates. If you do require Federal Incorporation at your accountant’s advice We Can Help U can work with you and walk you through the necessary steps, then register your new Federal Company Extra Provincially with Alberta as it’s tax center. Having two corporations, one federal and one provincial doubles the cost of annual returns, corporate changes, and registrations.
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Do not register a Federal company without
talking with us about your options.
Most entrepreneurs need a Tradename or a Partnership registration to do business. This allows you to save your receipts and write off expenses on your personal taxes. It is an efficient, cost-effective way to get a company and its write-offs against tax without spending a large amount of startup money. You need to pay GST after you earn $30,000.00 in Revenue. Many businesses in Canada (called home-based businesses usually) never make $30,000.00 in revenue for the first few years.
We Can Help U set up the right business registration for you, show you how to set up payroll, payables, invoicing, banking, do up a startup budget and how to tell if you are on track for success.