Accounting

Company Incorporation / Business Registration

As a business grows and adapts, so do its needs and structure. The very important decision to incorporate your small business at any stage of its growth is something that will dictate what your small business is able to do in the future. Many small businesses begin as sole proprietorships or partnerships, and eventually become incorporated when growth warrants that change. Here are some of the main advantages to consider when incorporating any small business:

  • Continuance - Continue to exist irrespective of ownership with an unlimited life-span.
  • Income splitting - Reduces tax liability, and can involve family members.
  • Limited liability - Reduces your own personal liability and protects your personal assets.
  • Lower tax rate - Canadian controlled private corporation tax is approximately 21%, and personal income can be reinvested into the corporation or received as dividends.
  • Raising funds - Incorporated companies can borrow, and there’s an added ability to borrow from the corporation.
  • Small business tax deduction - Approximately 16% on the first $200,000 of taxable income, and may lower tax rate.

Business Registration

Ready to turn your dream business into a reality? Clearwater Professional Corporation can find the right solution to help lighten some of the stress associated with launching a small business. By gaining an understanding of your small businesses objectives, we can help you with:

  • Company name and business registration
  • Tailored software and financial reports
  • Payroll and HST registration

We will determine the best business structure for your goals, and help your budding enterprise take its first positive step in the right direction... ask us how we can help you register your company quickly and hassle free!

Incorporating your small business can be complicated, but Clearwater Professional Corporation is here to help you make the transition effortlessly!

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