As a bookkkeeper, I see a lot of small business owners who start out as a sole proprietorship and think that that they are either too small to incorporate, or that it’s too complicated to incorporate. I always recommend that they speak to their accountant – as I feel there are a lot of advantages to incorporating. For my own company, I have seen the benefits, and have never regretted my decision to incorporate.

Recently, the following was posted on Linked In by Doug Cumpson of the Vine Group, and he’s given his permission to post it on my blog. Thank you Doug – I hope people read this and ask the questions!

Some small business owners . . . are operating a business as a Partnership/Sole-Proprietorship and are completing your taxes and find themselves caught in the CRA TAX TRAP . . . want help? Did you know . . . the tax laws have changed considerably over the years and next year small business owners will reap the best benefit . . . by getting incorporated . . . one of the Specialty Services we at Vine Group provides is Incorporation Advice and Assistance. Most people think incorporating their business is a complicated expensive undertaking, however, I will demonstrate that it actually saves you money. New remuneration strategies permit business owners to take home upto $60,000 in income with virtually no personal tax obligation. When compared to paying tax on the profits of your sole-proprietorship or the money you paid yourself from your own company the tax savings is huge . . . and over 25-30 I can show you if you invest the difference into a TSFA or RRSP you will have huge retirement savings . . . contact me at dougc@vine.on.ca for the rest of the story . . . Vine Group . . . not your typical accounting firm.

See http://www.vine.on.ca or Doug’s LinkedIn Profile: http://ca.linkedin.com/pub/doug-cumpson/11/72b/372