At GTA Accounting, we are familiar with the incorporation laws and can help you in deciding the type of incorporation that will be most beneficial for your business activities. Our business incorporation services are available to business owners through out GTA and in Toronto, Oakville, and Mississauga.
Why Incorporate?
Incorporation is the most recommended long-term business strategy. Without this strategy, you’ll be personally liable for your business debts and legal issues. At GTA Accounting, we often recommend incorporation as it comes with the following benefits:
Professional Corporations
In some situations, some professional organizations allow their members to register ventures through a corporation and set up what’s known as a ‘Professional Corporation.’ While such a corporation operates just like all other regular corporations, it’s restricted to only provision of specific types of professional services. Some of the professionals allowed to create these corporations include dentists, pharmacists, doctors, lawyers, and more.
Benefits of Incorporating
Limited Liability
Unlike partnerships and sole proprietorship’s where the owner assumes all the instances of liability of the business, once a company is incorporated, the owners’ liability is limited to the specific amount of their investments in the business.
The Company Carries On
An incorporated business continues to operate even if some or all the current shareholders leave the business or die or the overall ownership of the company changes.
Raising Capital is Easier
In addition to borrowing money, corporations can raise more capital through equity financing. This is a process that involves selling shares to venture capitalists or angel investors.
Tax Savings
Once your company gets incorporated, it will become subject to more favorable corporate income tax rates compared to the individual tax rates. That means your company can save more money to help finance its operations and future growth. Also, incorporated businesses allow for income splitting among family members and this leads to further tax savings
Why Choose Us To Incorporate Your Business:
- Business is setup by a CPA
- We define the share structure to accommodate future growth
- We set you up with CRA: Like HST, Business Number, Payroll, WSIB
- Provide assistance in staff hiring
- Advice you on your tax obligations
- Reduce taxes by doing tax planning
- Advice on how to manage books and records for CRA
- Do your bookkeeping & File year end taxes at year end
- Serve as business advisor by providing solutions to your business problems
- You get to take advantage of our experience and industry knowledge at no extra cost
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