You operate a business as a sole proprietor or a partnership. Is it the right time to incorporate your business as a CCPC?
Keep reading to find the answer ...
I attended an IPBC (Institute of Professional Bookkeepers of Canada) webinar in 2009 by Debi Peverill CA from SBR Communications ... where the topic of when to incorporate as a CCPC was discussed. This is a very brief summary of what I took away from the hour long webinar.
This chat gives you TALKING points to DISCUSS with your accountant ...
because incorporation isn't right for every business.
My conclusion after attending the IPBC webinar - if the owner is withdrawing all profits instead of leaving them in the company, there is little advantage or reason to incorporate.
Industry Canada has a chapter in their incorporation guide publication called Chapter 1 - Why Should I Incorporate? if you want to investigate further. You can find it at www.ic.gc.ca under Just for Businesses> Incorporate > > Learn about the benefits of incorporation> scroll to the bottom of the page and click on the link to the Guide to Federal Incorporation.
For information on splitting income with children under 18, see these references about "kiddie tax":
INDEX for My Notes on CCPCs
Is Incorporation Right For You And Your Business? |
Part 1
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Part 2
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Part 3
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Home › Canadian Bookkeeping Resources › CCPC › When to incorporate
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