Incorporate Your New Business with Confidence
Strategic Incorporation Services for Maximum Benefit
Incorporating your business is a major step toward long-term success and financial stability. At Phoenix Knight Financial Solutions, we provide a comprehensive, step-by-step incorporation service designed to maximize the benefits of owning a corporation. From tax savings to asset protection, our tailored approach ensures your corporation is structured for optimal performance and compliance.
Service Details
Considering forming a corporation? Phoenix Knight Financial Solutions offers a comprehensive incorporation process that goes beyond standard services to ensure you get the most out of your corporate structure.
Our Unique ‘STEP BY STEP’ Approach
We don’t just file paperwork; we consider every detail of your personal and business life that might impact your corporation. This includes asset ownership and other factors that could influence your corporate structure and tax planning. Our goal is to establish a corporate setup that maximizes tax savings and provides numerous other benefits, ensuring you reap the full advantages of incorporation.
The Incorporation Process
After a free initial consultation, we’ll provide you with a documentation package to complete—a process that typically takes less than an hour. If you already have an established business with assets and debts to transfer, this process may take a bit longer, but every minute is well worth it for the benefits you’ll receive.
Why Incorporate?
There are many compelling reasons to incorporate your business, including :
- Substantial Tax Savings : Corporations often save and defer tens of thousands of dollars in taxes annually.
- Limited Personal Liability : Shareholders and directors are generally not personally liable for corporate income tax, providing a layer of protection.
- Business Credibility : Incorporating gives your business instant credibility, as it’s automatically recognized as a profit-making entity by the CRA.
- Asset Protection : Transferring personal assets to a corporation can offer protection from personal liabilities and enhance your estate planning efforts.
- Privacy : Corporations offer a higher degree of privacy than personal holdings, keeping your business activities more discreet.
Tax Benefits
With proper setup and administration, the tax benefits of incorporation can be significant :
- Low Corporate Tax Rates : Enjoy tax rates as low as 15% or lower on net income under $500,000, depending on your province.
- Income Splitting : Pay dividends to multiple classes of shares, reducing personal tax liabilities for you and your family members.
- No CPP Costs : Corporate earnings paid as dividends are exempt from CPP contributions, saving you thousands annually.
- Flexible Tax Timing : Corporations offer more favorable timing for tax filings and withdrawals, giving you greater control over your finances.
- Tax-Free Withdrawals : Take advantage of tax-free withdrawals from the corporation, such as when transferring goodwill or other assets.
Our Comprehensive Incorporation Service Includes :
- Consultation : We start with a thorough consultation to clarify your objectives and financial situation, ensuring the corporation fulfills your needs.
- Corporate Structure : We help determine whether a federal or provincial incorporation is best for you.
- Name Search and Registration : We assist in selecting and registering your corporate name, or setting up a numbered company.
- Documentation and Filing : We handle all necessary documentation, including applications, business numbers, and GST/HST registrations.
- Corporate Minute Book : We prepare a custom minute book, including by-laws, share certificates, and resolutions.
- Ongoing Support : Our team is available to answer any questions you may have, offering long-term accounting and tax preparation services as needed.
Reinstating a Dissolved Corporation?
If your corporation is in dissolution or has already been dissolved, we can help with filing annual returns or reinstating the corporation through our step-by-step process.
Incorporating your business is a strategic move toward financial security and growth. Let Phoenix Knight Financial Solutions guide you through the process with expert care and attention to detail.