Posted by: Doug Pretorius
01/30/2005, 12:21:14
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I do everything in my own name. Because the advice I've received from my lawyers and accountants is that the owner of a single-member/employee corporation is held personally responsible for any actions taken by that corporation. So there's no liability protection, and to top it off you'd have to pay more tax. Title and liability insurance should be all you need for most real estate businesses in Canada. But don't take my word for it, I'm neither a lawyer, nor an accountant. You MUST seek the guidance of competent professionals in these matters.
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