Incorporating for consulting work: Lawyer up or do it yourself?

[schurchill39]

For those of you who have incorporated your own business for consulting work (I'd specifically be doing it for oil and gas engineering) would you recommend hiring a lawyer to set up the corp and do annual returns or would you do it yourself at the registries?

I am toying with the idea of maybe doing something like this but am trying to wrap my head around my different options I have to get set up. I've always just been an employee so I am learning as much as possible now about what to do if I go another direction.

For those of you who recommend going the lawyer route do you have any recommendations on lawyers I should try and see? Even if its just to pay for a few hours to explain the legal implications of either method I am sure that would be beneficial too. Feel free to PM me if you wish.

[benyl]

Registry. $400-$500

Unlimited A, B, C, D, E, and F class shares.

Give yourself 100 A. Give your wife 100 B.

Done.

[SKR]

I had a lawyer do mine, just because I'm stupid and would have fucked it up. I spent $1100 to know it was done right.

[carson blocks]

Lawdepot.ca, $300-$500 depending on options.

[thinmyster]

I got the lawyer to do mine up and then I do all my annual returns myself

[ExtraSlow]

Setting up the business isn't hard, totally fine to do it yourself. Agree to giving the wife shares of a different class.

I did my incorporation myself, but I have an accountant do my annual taxes, then do my own annual registries trip myself.

[suntan]

Make sure her shares aren't voting.

[schurchill39]

Originally posted by carson blocks
Lawdepot.ca, $300-$500 depending on options.

That looks fairly easy. Have you used it before?

[A790]

My accountant did mine for $650. Worth it.

[CompletelyNumb]

Depends how much time and thought you're willing to put into it. I had a lawyer do my current corp. I think it was $900? total and included an hour sit down with him to go over the structuring. LawShop by the peace bridge.

My last corp I tried to do all paperwork myself. I'll never do that again. Paying an expert like a lawyer or accountant to do paperwork is worth it vs the time I would spend on it.

[msommers]

Timpro setup everything for my numbered company for (if I recall) ~$450. I basically submitted my personal info and had them do everything - was completely painless.

Checked my old email.


$496.75 if you come pick it up or $517.00 for express post-delivery

[ercchry]

Originally posted by carson blocks
Lawdepot.ca, $300-$500 depending on options.



Originally posted by schurchill39


That looks fairly easy. Have you used it before?

Fuck those guys, absolutely botched mine and it took over 3 months for them to set it up


:nut: :banghead:

Oh, then for the extra salt in the wound the "deluxe" package I bought was actually that diy kit you can grab off the shelf at any registry

[carson blocks]

Originally posted by schurchill39


That looks fairly easy. Have you used it before?

Yeah, they made my numbered AB corp for me.


Originally posted by ercchry





Fuck those guys, absolutely botched mine and it took over 3 months for them to set it up


:nut: :banghead:

Oh, then for the extra salt in the wound the "deluxe" package I bought was actually that diy kit you can grab off the shelf at any registry

Wow, that's crazy. Mine was two days and no problems at all. I had no idea the minute book etc. was available at the registries.

[JPB]

Originally posted by msommers
Timpro setup everything for my numbered company for (if I recall) ~$450. I basically submitted my personal info and had them do everything - was completely painless.




Another vote for Timpro, my brother in law the accountant set mine up through them. Easy breezy.

One idea for shares - I made my wife and kids all different share classes. So if I need to give oldest kid some dividend $$ for university I don't need to give the same to the other shareholders.

Annual return is a 10 minute visit to a registry, if you have AMA they have a separate business registry line and everything.

[schurchill39]

Originally posted by JPB


Another vote for Timpro, my brother in law the accountant set mine up through them. Easy breezy.

One idea for shares - I made my wife and kids all different share classes. So if I need to give oldest kid some dividend $$ for university I don't need to give the same to the other shareholders.

Annual return is a 10 minute visit to a registry, if you have AMA they have a separate business registry line and everything.

We don't have any kids right now and will not at the time of conception of the company so I am just planning on setting up myself with class A voting shares and my wife with class B non-voting shares.

I'll check Timpro and the LawShop. Any other suggestions on law firms or services to use?