Giving thought to incorporate business but don’t know how to take the first step? Where to start from? At Filing Taxes, we create a seamless transition for those who desire to take the next step towards growing their business.
As the business grows, so do its needs. At any stage of your business growth, the decision to incorporate is a particularly important decision and something that will dictate what you can do in the future.
Incorporation provides a solid legal foundation for the operation and growth of your business. There are many benefits to incorporation, including limited liability, but it Is also the most flexible business structure. It allows you to divide and share ownership and control of the business among founders, investors, employees, and key contributors, which is why you should take on board the services of an experienced professional.
Here at Filing taxes, we have served hundreds of small businesses to incorporate with a delicately structured set up so that profits can be maximized, and tax obligations minimized. Our corporations’ services cover every aspect of this complex process from basics to more technical stuff. We also assist in getting a business payroll and HST number, along with establishing the legal formation of your corporation. We can help you design strategies to protect your profits through establishing a holding company, as well as provide you with updated minute books. If you want to be assured that the incorporation process of your business is drafted by credible professionals, choose Filing Taxes.
The competitiveness and the highly developed economy of Canada are the assertions of a friendly and opened market where entrepreneurs worldwide can activate in varied areas of business, considering a multitude of advantages adapted with the market’s requirements and needs. The requirements for establishing a corporation in Canada can be briefed by our expert team of Canadian company formation specialists who can also assist you when drafting the documents with authorities in charge.
Incorporating your business can be complicated, but Filing Taxes is here to help with its following features of incorporation services:
For any kind of incorporation in Canada, we remind you that our incorporation experts are at your disposal with comprehensive information about the registration process and the steps to consider when drafting the documents with the authorities in charge of business registration. Our step-by-step guide proceeds with the following sequence:
If you are looking to incorporate your business, then feel free to reach out to Filing Taxes at 416-479-8532. Schedule your tax preparation appointment with us and take the first step towards proper management of your finances. Our professional personal tax accountants will make sure to get you the maximum tax refund on your personal tax return.
An incorporation is a form of business ownership that turns your sole proprietorship or general partnership into a company formally recognized by the Canada Revenue Agency (CRA). Through incorporation, the company's owner or owners create a separate legal entity to transact business.
Incorporating is worthwhile because business owners enjoy a veil of legal protection with this business structure. It is beneficial for self-employed taxpayers to incorporate their businesses – dividends being taxed at a lower rate than other income. Also, corporations are more likely to attract business partners and potential investors to further expand and grow the business. Forming a corporation can be costly and time-consuming for a new business but the advantages you will reap make the process worthwhile.
With a careful review of the government (federal and provincial) forms to be filed, reliable name search results, and a clear understanding of the best structure for your business, it is possible to incorporate your business yourself. Having said that, although it is not a legal requirement, it is advisable to hire an accountant, not only to do the paperwork but also to ensure that a corporation is the right business structure for your purposes.
Even if your business has only one owner—you – It’s possible to legally organize it as a corporation. One person can hold all the offices in the corporation and be the only stockholder. But just because you’re riding solo, doesn’t mean you’re exempt from following the rules. You still need to properly prepare minutes (corporate record keeping), make important decisions, and file the necessary legal documents for your incorporation.
Every business differs and as your company grows it is important to touch base with the right business structure. Considering your different options and choosing the right legal structure for your business can protect both your company and your personal wealth. An unincorporated business may not realize that incorporation has many long-term benefits. Unlike a partnership or sole proprietorship, the small business corporation structure shields entrepreneurs' personal assets in case debts or legal judgments are claimed against the business.
Disclaimer: The information provided on this page is intended to provide general information. The information does not consider your personal situation and is not intended to be used without consultation from accounting and financial professionals. Salman Rundhawa and Filing Taxes will not be held liable for any problems that arise from the usage of the information provided on this page.