Timeline for Starting a business: is it legal to hire freelancers if you haven't registered the company yet?
Current License: CC BY-SA 4.0
6 events
| when toggle format | what | by | license | comment | |
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| Oct 7, 2019 at 20:23 | comment | added | Dale M♦ | @phoog tax impacts of incorporation are very jurisdiction specific but AFAIK limited liability is universal | |
| Oct 7, 2019 at 20:22 | comment | added | Dale M♦ | @phoog the company would buy the business from the owner - tangible assets and liabilities would go to the balance sheet as normal, intangible assets (like goodwill) go to assets. If paying with shares (as is likely) then they go to equity. | |
| Oct 7, 2019 at 15:14 | comment | added | phoog | It might also be worth pointing out that in the sentence "as an individual (sole-trader) you can operate a business, hire employees and contractors and do everything else a business does," the phrase "everything else" includes paying income tax and other taxes. | |
| Oct 7, 2019 at 14:46 | comment | added | phoog | It seems like there may be other reasons for forming a company, particularly with regards to taxation, and, although it doesn't seem to apply here, ability to attract other investors. For example, if a person sinks $500,000 into a business and then subsequently incorporates, what does the company's balance sheet look like? What about the person's balance sheet? | |
| Oct 7, 2019 at 14:40 | history | edited | feetwet♦ | CC BY-SA 4.0 |
added 5 characters in body
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| Oct 7, 2019 at 11:09 | history | answered | Dale M♦ | CC BY-SA 4.0 |