Phone
(905) 631-5566
Address
4042 Mainway Drive – Unit #1 Burlington, Ontario L7M 4B9
Hours
Email
Registration & Incorporation
Incorporation is a legal process that creates a separate legal entity distinct from its owners (shareholders). Many small business owners choose to incorporate to limit personal liability and gain potential tax advantages.
At Accounting for Small Business, our experienced team is ready to guide you through the process, helping you decide if incorporation is the right step for your business and determining the ideal structure tailored to your needs. There are both federal and provincial incorporation processes available, and we’re here to assist you every step of the way—from understanding the financial implications to weighing the pros and cons.
Should You Incorporate Your Business?
Incorporating your small business offers a broad range of advantages, including:
- Limited Liability
Incorporation limits your personal liability, ensuring that in the event of a lawsuit or bankruptcy, you are not personally responsible for the corporation’s debts—provided that you adhere to all government regulations. - Flexible Financing Options
Incorporated businesses can issue shares, making it easier to raise capital from friends, family, business associates, and other investors. - Tax Benefits
Corporations often benefit from lower income tax rates and the ability to carry forward losses from previous years to offset current profits. - Continuous Existence
As a separate legal entity, a corporation is not affected by the lifespan of its founders. This continuity allows the business to operate indefinitely and be transferred across generations. - Capital Gains Exemption
When you sell shares of a qualified Canadian-controlled private corporation, you may be eligible for a lifetime capital gains tax exemption—up to $1,250,000 as of 2024.
Copyright © 2025 Accounting for Small Business | Small Business and Individual Accounting Burlington, Oakville, Halton, Milton, Waterdown Ontario - All Rights Reserved