Business startup
You have your business idea and need to get your company off the ground.
We are here to walk you through this process to make sure that your company starts with the right type, share structure company resolutions, and memorandum.
Our firm utilizes the services of an internal company formation agent to eliminate the high costs. If you need legal advice regarding the formation, we will refer you to our experienced external attorney.
This will provide you with the right corporate structure to ensure that your company starts off on the right foot.
Benefits of Un-Incorporated Company
An un-incorporated company (also know as a partnership) is inexpensive and easy to setup but does have its limitation in that your personal assets are at risk in the case of a business claim. If the proprietorship is not making a profit it can benefit your personal tax return with the loss acting as a tax deduction. However, your proprietorship income is added to your Personal Income and the tax rates will continue to climb up to the high 40% range.
Benefits of Incorporating
The benefits of incorporated range from protection of personal assets to effective corporate tax rates which allow your business to grow without having to fill the government tax office!
Incorporation benefits include:
- Using our corporate agent, your incorporation is formed in as little as same day for under $900 for most Provinces.
- Easy to follow questionaire with our office ready to assist in completing this.
- We will explain all aspects of incorporating to directors, officers, share structure etc.
- Ability to your incorporated company to select their year-end¹ which can allow substantial tax deferrals.
- Corporate Tax rate less than 20% for net income up to $500,000. For example, if your income hits $250,000, your personal tax rate might average out to 33% federally. The federal tax rate for incorporated businesses is 15% and could be as low as 9%. Applicable provincial tax rates would also apply.
- Income Splitting means you can pay dividends to your spouse and children. This strategy offers great flexibility to an incorporated business since the dividends paid can vary from year to year, as can the recipients receiving them. This can result in lowering your tax bracket. Our office will of course walk you through this process and the tax planning.
- Continued operation with both voting and non-voting share structures.
- Corporation earns its own credit rating, separate from the shareholders.
- Limited Liability which means with a coporate claim, the shareholders are not personally liable².
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Lifetime Capital Gains Exemption. When you make a profit from the sale of the incorporated business, the Lifetime Capital Gains exemption (LCGE) could save you on paying taxes on all or part of the profits from the sale.
- Anyd many more, we suggest you schedule a consultation with your dedicated accountant to discuss all of the benefits.
Zoom Appointment
Google Meet Appointment
Phone Appointment
Book Video or Phone Appointment by Phone
You can book your Telephone Appointment with our accountant by calling (Clicking the button will automatically dial our office):
You can click on any of the above numbers to dial automatically
After you book your Telephone appointment with us, if you have questions or content that will assist our meeting, you can Click here for options on sending this information to our office.
You can click on any of the above numbers to dial automatically
After you book your Telephone appointment with us, if you have questions or content that will assist our meeting, you can Click here for options on sending this information to our office.
Book Onsite (Mobile Office) Appointment by Phone
We offer very limited amount of on-site (Mobile Office) appointments.
Prior to booking this option, please consider either a Zoom, Google Meet or Phone Appointment as all of these are available as soon as today or tomorrow. By selecting these options you leave on-site appointments for those who are not able to book those due to either technical, age or medical conditions.
Continue by Calling:
You can click on any of the above numbers to dial automatically
After you book your Telephone appointment with us, if you have questions or content that will assist our meeting, you can Click here for options on sending this information to our office.