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FREQUENTLY ASKED QUESTIONS
4-A conducts regular presentations on these topics. Please contact us if you’re interested.
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When Should I Incorporate My Business?Incorporating a business should be considered when you need a tax plan (when you are not using all the cash) and to limit your exposure to risk and liabilities.
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What Are the Costs Related to Incorporation?Legal Fees One-time setup costs Annual filing fees Accounting Fees Annual Corporate Tax Return and Financials (not just a personal tax return)
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Why Is It Important for my Business to be a Separate Entity?Having your business separate from your personal financial situation is important for tax, income and liability purposes. Incorporating means your business will have a separate bank account, credit cards and set of records.
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What are the Benefits of Incorporation?Incorporation of your business allows you to: Properly plan to maximize profits and reduce risks Tax savings Possible elimination of CPP contribution Income splitting (dividends versus salary for tax savings)
INCORPORATION
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When Should I Incorporate My Business?Incorporating a business should be considered when you need a tax plan (when you are not using all the cash) and to limit your exposure to risk and liabilities.
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What Are the Costs Related to Incorporation?Legal Fees One-time setup costs Annual filing fees Accounting Fees Annual Corporate Tax Return and Financials (not just a personal tax return)
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Why Is It Important for my Business to be a Separate Entity?Having your business separate from your personal financial situation is important for tax, income and liability purposes. Incorporating means your business will have a separate bank account, credit cards and set of records.
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What are the Benefits of Incorporation?Incorporation of your business allows you to: Properly plan to maximize profits and reduce risks Tax savings Possible elimination of CPP contribution Income splitting (dividends versus salary for tax savings)
FINANCIAL GROWTH
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When Should I Incorporate My Business?Incorporating a business should be considered when you need a tax plan (when you are not using all the cash) and to limit your exposure to risk and liabilities.
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What Are the Costs Related to Incorporation?Legal Fees One-time setup costs Annual filing fees Accounting Fees Annual Corporate Tax Return and Financials (not just a personal tax return)
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Why Is It Important for my Business to be a Separate Entity?Having your business separate from your personal financial situation is important for tax, income and liability purposes. Incorporating means your business will have a separate bank account, credit cards and set of records.
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What are the Benefits of Incorporation?Incorporation of your business allows you to: Properly plan to maximize profits and reduce risks Tax savings Possible elimination of CPP contribution Income splitting (dividends versus salary for tax savings)
CORPORATE BOOKKEEPING
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When Should I Incorporate My Business?Incorporating a business should be considered when you need a tax plan (when you are not using all the cash) and to limit your exposure to risk and liabilities.
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What Are the Costs Related to Incorporation?Legal Fees One-time setup costs Annual filing fees Accounting Fees Annual Corporate Tax Return and Financials (not just a personal tax return)
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Why Is It Important for my Business to be a Separate Entity?Having your business separate from your personal financial situation is important for tax, income and liability purposes. Incorporating means your business will have a separate bank account, credit cards and set of records.
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What are the Benefits of Incorporation?Incorporation of your business allows you to: Properly plan to maximize profits and reduce risks Tax savings Possible elimination of CPP contribution Income splitting (dividends versus salary for tax savings)
TAX PLANNING & SUCCESSION PLANNING
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When Should I Incorporate My Business?Incorporating a business should be considered when you need a tax plan (when you are not using all the cash) and to limit your exposure to risk and liabilities.
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What Are the Costs Related to Incorporation?Legal Fees One-time setup costs Annual filing fees Accounting Fees Annual Corporate Tax Return and Financials (not just a personal tax return)
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Why Is It Important for my Business to be a Separate Entity?Having your business separate from your personal financial situation is important for tax, income and liability purposes. Incorporating means your business will have a separate bank account, credit cards and set of records.
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What are the Benefits of Incorporation?Incorporation of your business allows you to: Properly plan to maximize profits and reduce risks Tax savings Possible elimination of CPP contribution Income splitting (dividends versus salary for tax savings)
FINANCIAL MONITORING & REPORTING
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When Should I Incorporate My Business?Incorporating a business should be considered when you need a tax plan (when you are not using all the cash) and to limit your exposure to risk and liabilities.
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What Are the Costs Related to Incorporation?Legal Fees One-time setup costs Annual filing fees Accounting Fees Annual Corporate Tax Return and Financials (not just a personal tax return)
-
Why Is It Important for my Business to be a Separate Entity?Having your business separate from your personal financial situation is important for tax, income and liability purposes. Incorporating means your business will have a separate bank account, credit cards and set of records.
-
What are the Benefits of Incorporation?Incorporation of your business allows you to: Properly plan to maximize profits and reduce risks Tax savings Possible elimination of CPP contribution Income splitting (dividends versus salary for tax savings)
PERSONAL TAXES
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