Incorporated Professional Firm
Assisting with Incorporation and Expansion
We Provide Incorporation Services
Incorporation is a vital legal process that establishes a new business entity, offering protection to its owners from legal liabilities. This process adheres to federal or provincial laws, depending on the corporation's jurisdiction. It is crucial to have someone well-versed in the incorporation laws and regulations relevant to your profession and location. At Business Development Services, we simplify this process for you by guiding you through the necessary steps and informing you about the essential requirements.
Incorporating your business comes with numerous advantages. While starting a business using your personal identity may be common initially, it is not a sustainable long-term strategy. As your business expands, incorporating it can safeguard your personal assets from potential legal issues and debts owed to creditors, offering valuable protection for you and your family.
Incorporating a company comes with the advantage of enjoying lower corporate income tax rates compared to individual tax rates. This reduction in taxes means there will be more funds available to invest in the business's growth and development. Additionally, corporations offer the opportunity for income splitting among family members, resulting in further tax savings when compared to running a sole proprietorship. By strategically involving family members in lower tax brackets, income splitting through a corporation can effectively reduce the overall tax burden for the family.
Incorporated Professional Firm
In specific instances, certain professional organizations permit their members to register their businesses as "Professional Corporations." These entities function similarly to regular corporations but are limited to providing specific types of professional services as defined by the governing body regulating the respective profession. The following professions are eligible to establish a professional corporation: List some eligible professions here.
- Accountants
- Chiropractors
- Dentists
- Doctors
- Lawyers
- Pharmacists
Although establishing a professional corporation offers numerous advantages, the process can be intricate, and seeking professional guidance is highly recommended.
For those interested in incorporating their business, we encourage you to reach out to Business Development Services. Our team is eager to assist you throughout the process, setting your business on a trajectory toward success. Explore our litigation support service to further enhance your business endeavors.
Formation of Corporations
At Business Development Services, we are highly knowledgeable in incorporation laws and taxation. With our extensive experience, we have been streamlining the incorporation process for businesses for several years. Let us assist you in taking the next crucial step toward expanding your professional endeavors.