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Is your team a LTD company?
Posted: Mon Feb 25, 2013 2:15 pm
by steve-e
I've had emails from 4 teams this morning, and in their signatures 3 2 of them are limited companies.
Is your team a limited company? If so why.. and if not is there a deliberate reason to NOT be?
Re: Is your team a LTD company?
Posted: Mon Feb 25, 2013 2:24 pm
by ada
the only thing limited about our team is matt's height
Re: Is your team a LTD company?
Posted: Mon Feb 25, 2013 6:34 pm
by ChrisWells
No.
In Canada one can form a sole proprietorship (essentailly no difference between the business and yourself) which allows up to 3 years of business losses to be written off against other sources of personal income (thereby reducing your taxes). If you don't show a profit (or at least a damn good potential of profit) by the 4th year then you disolve the company and pursue it as a hobby.
Chris