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guide 4 all seasons
08-14-2006, 12:30 AM
Hi everyone, i'm a fishing and hunting guide. I work 7-8 month out of the year and am wondering if self employment is for me and just contract myself out to the outfitters i work for. what are the advantagfes and disadvantages to this and do I need a small business license. do I get a gst number and what are thing i can riight off. please help me. thank you

Tsveta
08-14-2006, 08:31 AM
Hi,
The one advantage is that you have the freedom to work and take a break when you need to. You are in control of your earnings and you change the work environment, which I think is really nice due to the fact that most people hate their jobs. As a contractor you don't have time for that because in 6 to 12 months you'll be working for a different company.
You need to register a Sole Proprietorship or a Corporation. With the Corporation you can save a lot of money. Ask your accountant what expenses can be claimed. You can get a GST number and claim all the GST you pay.

guide 4 all seasons
08-14-2006, 08:57 AM
thank you for your assistance. what are the differences between the sole proprietor and corp.

Tsveta
08-14-2006, 09:04 AM
thank you for your assistance. what are the differences between the sole proprietor and corp.


Hi,
this thread will give you an idea:
http://jobforum.ca/showthread.php?t=387

lana
08-14-2006, 09:34 AM
Hi everyone, i'm a fishing and hunting guide. I work 7-8 month out of the year and am wondering if self employment is for me and just contract myself out to the outfitters i work for. what are the advantagfes and disadvantages to this and do I need a small business license. do I get a gst number and what are thing i can riight off. please help me. thank you



Do you want to work from home and get your own business up or you want to work on short contracts at clients’ site?
I think in both cases is much better to register a Corporation.

Administrator
08-15-2006, 10:36 AM
Here are some links that will help you decide if you need a Canadian corporation or it's better to go as a sole proprietor:

http://www.cra-arc.gc.ca/tax/business/topics/bn/needone/menu-e.html

http://canadabusiness.ic.gc.ca/gol/cbec/site.nsf/en/index.html

lookingforjob
08-17-2006, 08:36 AM
The only drawback of a corporation I see is that you have to pay higher accountant fees, compared to the fees for personal tax preparation. But this is easily offset by the tax savings you do with the corporation.

contractor
08-17-2006, 10:01 AM
The only drawback of a corporation I see is that you have to pay higher accountant fees, compared to the fees for personal tax preparation. But this is easily offset by the tax savings you do with the corporation.

yes but the accountant fee is an expense of the corporation so you write it off on your return

philip
09-23-2006, 03:59 PM
If you are looking for the freedom of self employment but not sure if setting up a corp. is the way to go, make sure you have looked at the portable employer option. Try [EDIT: NO SELF PROMOTION ALLOWED]