on starting property management company

[Derek Stollery]

Is it more beneficial to register a management company as an LLC, S-CORP, LTD, SOLE PROPRIETORSHIP? I manage a couple properties in Canada now and I want to branch out and manage more properties, as I am the only one managing said properties what would be the best way to start and what software is best?

[Kevin Suarez Sabugo]

Hi @Derek Stollery,

I assume that you are located in Alberta as well and if that is true, know that LLCs don't exist in Canada. 

Usually when it comes to this type of questions, it always depend on your personal situation and plan for the future, so your next step should be to talk to an accountant.

That being said, still assuming your are located in Alberta, from my own research, when you are starting out a business you don't need to incorporate right away and can still claim some of these business related expenses on your personal tax.

Creating a corporation will incur some costs to setup and and yearly accounting cost but definitely worth it as you grow your business. Finding the appropriate time to transition to a corporation is definitely depending on your own situation and an accountant will help you with that.

Hope this helps a bit