Incorporation Tips

Expert advise for your Incorporation.

Get some pro tips to manage your incorporation better money wise

We bring you the best possible solutions for your business.

1. How to Pay less tax, Incorporate.

There are numerous reasons to think about incorporating your small business, regardless of whether you are currently an employee, a partnership, or a lone proprietor. Some of the advantages of incorporating as a business are listed here, along with incorporation advice.

2. Significantly Reduce Your Taxes

By avoiding the highest personal income tax rates of 40% to 50% and leaving revenue in your corporation that would only be taxed at about 20%, you can drastically lower your overall income taxes.

3. Build A Big Corporate Retirement Fund

You can keep money in your business and use it as a means of building up a sizeable retirement investment portfolio for yourself thanks to the low corporate income tax rate of about 20%.

4. Get A Tax Free Loan

You might be able to take out a loan from your employer to purchase a house or car without having to immediately report the amount as personal income.

5. Receive Tax Free Retirement Dividends

Your spouse and you may get dividends from your firm of about $30,000 each when you retire or take a leave of absence from work. If you have no other sources of income, you may receive the entire $60,000 in dividend income as tax-free personal income.

6. Smooth Income

You can utilize your business to spread out your personal income over two or more years, which will reduce your overall income taxes, if your revenue from IT contracting or consulting varies a lot from year to year.

7. Protect Personal Assets

Your company provides you with limited liability from your corporate IT contracting work, resulting in protection of your personal assets.

8. Increase Your Marketability

Many big clients and IT staffing firms prefer to work with incorporated IT contractors rather than single proprietor IT contractors because of the higher tax audit risk posed by the Canada Revenue Agency (CRA, previously Revenue Canada).

9. Additional Tax/Financial Strategies Available

Additional tax and financial planning methods, including as the establishment of joint venture firms, investment holding companies, and individual pension plans, are available to corporations.

About Us

We are businessmen by trade and explorers by heart, so we understand the challenges of running a small business while also leading a great life outside of work. We wish to make the same thing easier for you. We provide day-to-day financial planning, targeted coaching, and consulting services to help you better understand your company’s financial needs and plan to achieve your long-term objectives.

Contact Us

Phone: (403) 409-1999

Email:[email protected]

159 W Broadway
Suite 200-138
Salt Lake City, UT 84101

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