Entrepreneurship & Small Business

Lawyer wants $2000+ to incorporate a business

  • Last Updated:
  • Jun 9th, 2018 2:17 am
Newbie
May 22, 2018
4 posts
2 upvotes
Toronto
$2000 is on the higher end for a lawyer. Some lawyers do it for $1200-1500.
Either way, dont do it yourself for $500 on the internet. Its not worth it. If your business grows, you will have to pay a lawyer at least $2000 to fix what you did yourself online. The internet incorporations do not allow you to create various classes of shares for income splitting purposes or rollover shares for tax planning purposes.
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Deal Fanatic
User avatar
Sep 13, 2003
9596 posts
1340 upvotes
Haha this is funny. Same type of people who complain about getting an oil change for $60 when DIY is $30. Well, than do it yourself.

People do realize costs are going up for everyone - TTC, Go Transit, GAS.
One blind human - a tragedy
Ten blind humans - a disaster
One million blind humans - a statistic
Banned
Oct 16, 2008
1010 posts
626 upvotes
NewJohnny wrote:
Apr 29th, 2018 1:30 pm
I looked around some more and I see it's a reasonable figure. My previous expectations were based on jokers here on RFD saying it was $60 and 15 minutes of work. I won't name names.

My needs are simple. I'm a one man app developer with three sources of revenue: Apple, Google, and maybe an ad agency. One share class, federal corp, GST number. I figured it should be cheaper than it is. Regardless, I'm going with the lawyer after all. It's a one time expense and I could use a lawyer to vet possible future contracts.

smart
Deal Addict
User avatar
Aug 15, 2015
1328 posts
169 upvotes
Markham, ON
I don't know how many people actually hired a lawyer who are posting here.

A lawyer may ask $2000 up front but that's a retainer. If a stranger ask you for a favour, don't you want to make sure you have all you bases covered? Whatever money doesn't get used up during that lawyers assistance should be refund to you. You can easily look up the government filing fee yourself. If you want to pay for the disbursement as a deposit, bring some form of payment to the lawyer's office.

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