View Full Version : What does being incorporated mean?
qkslvr
12-20-2006, 04:01 PM
When applying for a job in an agency, they always ask you if you are incorporated. What does it mean to be incorporated? Is it worth being incorporated?
Audio_Rookie
12-20-2006, 04:07 PM
I have never had someone ask me that when applying for a job.
Many times they will ask me if I am a registered apprentice, or certified journeyma when going for a trade job though.
Super_Geo
12-20-2006, 04:13 PM
In a nutshell: They want to you know if they will be paying you as an employee or a contractor.
bspot
12-20-2006, 05:02 PM
Being incorporated means you own a company that they would pay for your work.
Whitetiger
12-20-2006, 05:19 PM
So they don't have to put you on their payroll or benefits package.
qkslvr
12-20-2006, 07:23 PM
would being incorporated mean they'll pay you more then since they don't have to give you benefits? is it worth being incorporated? how do I get incorporated? I have tried searching but was unable to find an answer on how to get incorporated and the costs.
CokerRat
12-20-2006, 08:25 PM
When it comes to professional services, one reason is that a contractor can be forced to take on liability for mistakes and have their own insurance in place for errors & omissions.
D. Dub
12-20-2006, 09:03 PM
bsa.cbsc.org (http://bsa.cbsc.org)
bspot
12-21-2006, 01:09 AM
Originally posted by qkslvr
would being incorporated mean they'll pay you more then since they don't have to give you benefits? is it worth being incorporated? how do I get incorporated? I have tried searching but was unable to find an answer on how to get incorporated and the costs.
Yes, they should pay you quite a bit more. The best part is the tax savings. There are many tax incentives for small businesses.
To incorporate a numbered company, just go to a registry and they'll set you up. I think its just over $200?
Then you'll need a GST number, which is free. You'll also need a business banking account.
Depending on where you work, you might need WCB (around $100-$130 for office work) and liability insurance (huge range on this).
qkslvr
12-21-2006, 01:39 PM
thanks for the info guys...
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