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| QUESTION: Why should I incorporate my business? |
| TOPIC: Incorporating |
| ANSWER |
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One major benefit to incorporating is to avoid being liable personally. If the possibility of your business being sued is high, you may want to incorporate in order to limit it to the assets of the corporation. Another major benefit is the tax deferral. The income is initially taxed in your corporation at a lower tax rate. Also, if your company name carry one of the designator: "Inc.", "Incorporation", "Ltd.", "Limited", it can be perceived as much bigger than it is, and for some more credible than a sole propritorship or a general partnership.
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| RELATED LINKS |
| Related Resource Library Items |
- Canada Business Corporations Act: Dissolution
- Continuance
- Incorporation and business guide for Ontario
- Not-for-profit incorporator's handbook
- Small business guide to federal incorporation
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| User profiles which indicate this topic |
- Ms. Elsie Tam (Hopkins Consultancy Services Limited)
- Mr. David Michaels (INTELLIGUARD CORP.)
- Ms. Arlene Tober (Investors Group)
- Ms. Johanne Dixon (Integress Paralegal Solutions)
- Mr. Martin You (Ledgers (Markham))
- Ms. Rita Benedetto (Account on Me)
- Mr. Michael Carabash (Dynamic Lawyers)
- Mr. Nicholas dePencier Wright (Nicholas dePencier Wright, Barrister & Solicitor)
- Mr. Atul Mehra, CA, CPA (M and Co. CA's)
- Mr. Steve Selby (Business America Services)
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