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Starting a corporation, set up properly from day one
We help you decide whether to incorporate, register the corporation federally or in Ontario, and open the CRA program accounts you need, so that the first year's books, HST and payroll start out right.
What's included
- Advice on sole proprietorship versus a corporation
- Federal or Ontario incorporation, numbered or named
- CRA business number, HST and payroll accounts
- WSIB registration where required
- A bookkeeping setup and a list of the records to keep
- A first-year calendar of filing dates
Who it's for
New business owners, and sole proprietors whose income has grown to the point where a corporation may save tax.
Common questions
Should I incorporate or stay a sole proprietor?
A corporation can lower and defer tax once profits are more than you need to live on, but it costs more to run and file. We look at your expected profit and personal needs before recommending either.
Federal or Ontario incorporation?
An Ontario corporation suits most businesses that operate only in Ontario. A federal corporation gives name protection across Canada and suits businesses working in several provinces.
Does a new corporation need its own bank account?
Yes. Keep the corporation's money separate from your own from the first day; mixing them is one of the most common problems we see at year-end.
Have a question about your taxes or books?
Call or send a short note. We reply within one business day.