Incorporating your business
WE MAKE SETTING UP
YOUR BUSINESS FAST AND EASY
Incorporating a business for the first time can be complicated and it’s really easy to make a simple mistake that could cost you more to correct than it did to register your business in the first place. We have been helping small business owners register their businesses since 1984. We have the knowledge and experinence to help you get your new business off the ground and running quickly and easily.
Incorporating your business may feel overwhelming. Our experienced advisors will guide you on the best corporate structure and ensure all the relevant forms and filings are completed.
Too often business owners take the advice of a friend and go online to incorporate. Be aware online registries do not give advice. When incorporating your busines you will need to make many important decisions about directors, shareholders, share structure and effective date that have significant legal and tax implications. Decisions have to be made as to how to distribute the shares to the shareholders, the importance of keeping a minute book, how to choose your year end, or the ongoing obligations of a corporation.
Getting proper advice from a professional may cost a little upfront, however, can save you a lot of money when you have a successful, profitable corporation.
We can provide you guidance and strategies on how to make incorporation work for you.
The hardest part of incorporating your business with CPA4IT is choosing a name.
Financial Benefits of Incorporation
One of the largest benefits of incorporating your business is that a corporation pays a lower tax rate than an individual. The only real down side is that there are cost to set up and maintain a corporation. The on going accounting fees can be anywhere form $2,000 – $5,000. Before you think of an incorporation, you may want to do a quick calculation to ensure that setting up your new corporation is going to save you more than it will cost you. We have developed an Incorporation Calculator to help you do just that.
Top 6 Incorporation Mistakes
Improperly structuring your corporation
Accepting the default share structure could lose you a lot of tax strategies that would be available to a properly structure company.
Incorporating federally
Incorporating Federally which is cheaper in the short term but more expensive in the long term.
Including your spouse as a director
Including your spouse as a director when it is not necessary, and could create a fiduciary responsibility and unnecessary risk for your spouse.
Failing to prepare your initial minutes and corporate minute book.
Accepting the default share structure could lose you a lot of tax strategies that would be available to a properly structure company.
Improperly structuring your corporation
You are required by law to own and maintain a minute book with record of all transactions that have transpired in your corporation.
Opting for a numbered company
Taking a shortcut and opting for a numbered company, when it only takes a few minutes to reserve a name.
Let us help you get it right.
It is always more expensive to fix a poorly structured incorporation than it is to get it right the first time.
Bare Minimum
The Basic Incorporation Package
$495*
- Preparing Nuans Name Search Report
- Preparing Articles of incorporation for Government Approval
- Government Filing Fee Included
- Name Search Fee Included
- Guidelines for Newly Incorporated Company
POPULAR
Standard
Includes Minutes and Shares
$795*
- Preparing Nuans Name Search Report
- Preparing Articles of Incorporation for Government Approval
- Government Filing Fee Included
- Name Search Fee Included
- Guidelines for Newly Incorporated Company
- Electronic Minute Book Included
- Corporate Minutes
- Corporate Bylaws
- Form 1/ Initial Return Filed with Government
- GST/HST Application
Small Business
Includes Website & Business Cards
$1,295*
- Preparing Nuans Name Search Report
- Preparing Articles of Incorporation for Government Approval
- Government Filing Fee Included
- Name Search Fee Included
- Guidelines for Newly Incorporated Company
- Corporate Minute Book Name Plate & Seal included
- Corporate Minutes
- Corporate Bylaws
- Form 1 / Initial Return Filed with Government
- GST/HST Application
- Quick Method Election Filed (GST/HST)
- Creation of 4 Professional Website with 1 Year of Hosting
- Creation of Professional Letterhead
- Creation of Business Card Template including 100 business cards
*Ontario Fees
Incorporation Guide
Incorporating a small business has many benefits, like limited liability, tax advantages, increased credibility, and tax-free capital gains. However, this option is not for everyone, and it may not be the best move for your business. Download our free guide to learn if incorporating a small business is right for you.
