Quote:
Originally Posted by wwbirds
but you had a pamphlet or something that you felt indicated otherwise when we tried to explain it last week. As we said last week get an acountant to set this up correctly once and for all. If you guess and get it wrong it can come back to bite you 2-3 years from now for a lot more than you are willling to risk right now.
Frans if you converted from proprietorship to incorporated last fall it is unlikely you needt to be concerned with directors fees.
Generally large public corporations (not private) would have a Board of Directors who receive a fee (honorary) for directing the affairs of the business. If incorporated within 6 months you probably have to wrap up a partial proprietorship year (to incorportion) and then your first fiscal year return for corporation will be due 6 months after fiscal year end (fall of 2011).
As above spend a few dollars to get it set up right as your trial balance from the proproietorship year end is very necessary to the start up of the incorporated entity. Well set up to begin with is essential to regular maintenance, planning and reporting.
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Oh don't even give me that. I told you what I could deduct I never said off what. As for you guys telling me about not doing research we had the money so we weren't worried.then some one who said they would pay for our photographer backed out last moment so we had to take the money out of the tax fund.