Incorporation

If you are considering incorporating your business, you will want to know whether it will actually end up being beneficial to you from a tax standpoint. Managing a corporation is more complex than filing as a sole proprietor for several reasons:

1. Federal and possibly provincial corporate tax returns need to be filed with financial statements and completed tax schedules;

2. Annual returns need to be filed to stay on the corporate register;

3. The CRA is increasing the disclosure requirements for corporations, and failure to disclose is subject to penalties.

The process begins by meeting your new accountant.

We will get to know you and your business plans, advise you as to whether you should incorporate, lay out the optimal structure for your corporation(s) and walk through some initial tax planning.​

We will be able to answer any questions you may have, such as how to pay yourself from your company, how best to organize your books, or how to finance startup capital.

​

WIP

Once our meeting is done, we'll send you our onboarding form to complete. In most cases, this will take 10 minutes or less. Once you're done, our team will review your information, begin the registration of your company, and set up your corporation's CRA accounts.​

Once the corporation has been registered, you'll need to get access to your business CRA account, sign in, and authorize us to act as your representative with the CRA. This will allow us to represent you to them regarding any inquiries, payment arrangements, or similar - we'll handle it all on your behalf.​​

Our team will provide you with a schedule of deliverables to ensure that you are up-to-date with all the necessary aspects of running your business. More details regarding these can be found here.

​​

WIP