Information about Updates on Shemale Canada

[Tia Phoenixx]

OHHHHHHHH, okok ^_^

& thank you then for the hard work u put and an amazing website!



*STANDING OVATION* hehe

I agree Kitana.
Have a good work etiquette, honestly and integrity always make you successful.

Of course there are some who are jealous or angry and mean to you..but we will always win the battle when we have all these elements in us.

good nite folks

[sensual_lover20]

My understanding is that you can only register a trademark through a corporation. Currently I am not incorporated myself. but figured I could just register a trademark by registering a shell corporation.

However at some point I will transfer my assets into a corporation once I can see some tax benefits. In my business seperation from liablity is something I would desire but since the primary shareholder can be held responsible it works out the same. Until I can recognize tax benefit from moving to a corporation i won't. If I was in the states I would set up an LLC but I do not think the same entity exists in Canada.

Also my friend started a business but registered his business name as a non-profit corporation with out asking first. So I told him we could just file as a sole proprietorship for tax purposes, no matter what he registered as with the province. Since he has a full time job also it only make sense to start as a Sole Proprietor since he will most likely show tax losses in the first years of his business. These tax losses can then be applied against his personal tax paid for a refund.

thanks, I think u answered my questions.

Regarding liability, a new client of mine is opening a high end restaurant in the heart of downtown Toronto. He initially wanted a partnership structure. However, let's say the food is tainted and your commercial insurance policy cannot cover it, then you will be attacked on a personal level with relation to your assets. I am not sure what your business is, but you can rarely be attacked personally through a corporation.

Also showing losses through a sole proprietorship applies losses to your normal income, however, if after two years or so you do not make any profit on your side venture then CRA will deny it because it will be deemeed to be a business without a reasonable expectation of a profit.

With regards to the transferring your asset to a corporation. Ensure you seek a tax specialist when using the T2057 form for the Section 85(1) rollover. Trademarks qualify for tax-free transfer while many other items do not. Just a heads up. However, you will be able to utilize your $750,000 capital gains exemption because your should meet the three Qualified Small Business Corporation rules considering all your assets are used in active business.

Hope this helps.

[Rockheart]

Regarding liability, a new client of mine is opening a high end restaurant in the heart of downtown Toronto. He initially wanted a partnership structure. However, let's say the food is tainted and your commercial insurance policy cannot cover it, then you will be attacked on a personal level with relation to your assets. I am not sure what your business is, but you can rarely be attacked personally through a corporation.

Also showing losses through a sole proprietorship applies losses to your normal income, however, if after two years or so you do not make any profit on your side venture then CRA will deny it because it will be deemeed to be a business without a reasonable expectation of a profit.

With regards to the transferring your asset to a corporation. Ensure you seek a tax specialist when using the T2057 form for the Section 85(1) rollover. Trademarks qualify for tax-free transfer while many other items do not. Just a heads up. However, you will be able to utilize your $750,000 capital gains exemption because your should meet the three Qualified Small Business Corporation rules considering all your assets are used in active business.

Hope this helps.

Sure you know what my business is. Photography, videography, Website Management, custom programming, general consulting.
The adult nature of some of my work is the only possible liablity risk, but generally no will get hurt or die in the course of business.

When i first started my business I lost money for 5 years.
However the losses where 1-2000. So against my full time job it wasn't an issue, i guess.
Over time my buiness became profitable but still not to the point there is any tax advantage to moving to a corporation.

I was audited by revenue canada 2 years ago.
Because of the nature of my business, we spent a generous amount of time discussing Tgirls.
Then, the auditor (who was smoking hot), had to come over and inspect my office in home too.
All my deductions where approved and she told me my records were impeccable.
I was scared shitless at first, but all my accounting was right.

[maddplotter]

Sure you know what my business is. Photography, videography, Website Management, custom programming, general consulting.
The adult nature of some of my work is the only possible liablity risk, but generally no will get hurt or die in the course of business.

When i first started my business I lost money for 5 years.
However the losses where 1-2000. So against my full time job it wasn't an issue, i guess.
Over time my buiness became profitable but still not to the point there is any tax advantage to moving to a corporation.

I was audited by revenue canada 2 years ago.
Because of the nature of my business, we spent a generous amount of time discussing Tgirls.
Then, the auditor (who was smoking hot), had to come over and inspect my office in home too.
All my deductions where approved and she told me my records were impeccable.
I was scared shitless at first, but all my accounting was right.

Did she ask to see your work?

[Rockheart]

Did she ask to see your work?

Yes she had to review Shemale Canada and she also took a look at Shemale Yum.
However she did not see any of my actual work.

However one time coming back from Detroit, I was detained by Canadian customs. They searched my computer and I ended up reviewing the 8 shoots I had done for Blacktgirls.com with the agent.
He seemed very interested, then told me I was doing nothing wrong about 3 hours later.

[sensual_lover20]

Sure you know what my business is. Photography, videography, Website Management, custom programming, general consulting.
The adult nature of some of my work is the only possible liablity risk, but generally no will get hurt or die in the course of business.

When i first started my business I lost money for 5 years.
However the losses where 1-2000. So against my full time job it wasn't an issue, i guess.
Over time my buiness became profitable but still not to the point there is any tax advantage to moving to a corporation.

I was audited by revenue canada 2 years ago.
Because of the nature of my business, we spent a generous amount of time discussing Tgirls.
Then, the auditor (who was smoking hot), had to come over and inspect my office in home too.
All my deductions where approved and she told me my records were impeccable.
I was scared shitless at first, but all my accounting was right.

When you need to do your corporate return send me a PM I think we can work out something.