Incorporation Services
Incorporation is the legal process of creating a separate entity with its legal personality.
This process protects business owners from legal liability.
Corporate Structure of incorporation comprises shareholders, directors, and officers.
Tax Advantages of Incorporation
Once incorporated, businesses benefit from lower corporate income tax rates compared to individual tax rates.
This opens avenues for tax-saving strategies, including income splitting among family members
Choosing Between Federal and Provincial Incorporation:
Federal Incorporation Advantages:
- Business can operate anywhere in Canada.
- Wider recognition
- Heightened name protection.
Provincial Incorporation Advantages:
- Lower cost.
- Province-specific deductions.
- Ease of business selection.
While there are significant benefits to forming a corporation, the process can be complex with long-term consequences.
Incorporation acts as the foundation of your business, impacting scalability and profitability.
Seek professional advice from Toronto Tax Boutique for a solid foundation.
Expert tax filing made simple, transparent, and stress-free. Get the refund you deserve with Toronto Tax Boutique!
Subscribe to get expert tax tips, refund maximization strategies, and exclusive updates—straight to your inbox!