Tag Archives: Incorporation Services

Transferring Personal Assets into your Business – Tax Tips

Many small business owners use their personal belongings in their businesses. Doing this shows the banks and the CRA (Canada Revenue Agency) that you have a personal stake in the venture. Naturally, the CRA has put together some rules which you need to follow in order to account for these transactions. Here are some tax…
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Tax Obligations after Closing your Business

There are certain things you need to do if you are planning to close your business. This includes notifying the Canada Revenue Agency (CRA), paying any outstanding tax amounts, filing a final tax return and financing your succession planning. You won’t need your Business Number and there are certain forms you’ll have to fill out…
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Benefits of Incorporating for Medical Professionals

Getting right into it, here are the top benefits of incorporating your medical practice. 1. Life Insurance Once you’ve incorporated your practice, you can pay for a life insurance policy directly from the corporation. This is one of the biggest advantages of incorporating and will help you avoid taxes on the personal side. 2. Reduced…
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