Professional Accounting

Company Incorporation

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

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

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For over 30 years, Clearwater Professional Corporation has offered
the following services integral to small business success:

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Clearwater Professional Corporation can help you reduce the stress created by ALL of your small business financials tasks. Meeting with you on a monthly basis, we will provide complete and accurate financial reporting so that you can see the numbers for yourself and gain a better understanding of your small business. Contact Clearwater now for the accounting services solutions that will help your small business prosper!

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