Incorporate Your Business with Ease
Let Emerald help you incorporate your business today
Are you starting a new business and looking to incorporate? Emerald can help! Our team of small business specialists will make sure that the process is completed quickly and accurately.
Incorporating your business can provide numerous benefits, including limited liability and tax advantages. However, it can be a complex process with many legal requirements to consider. At Emerald, we have years of experience in incorporating businesses and can guide you through the process.
We will help you choose the right business structure for your needs and make sure all necessary documentation is completed correctly. Our team will also handle the registration of your business number and GST number, making sure that everything is in order for your new business venture.
Don’t let the incorporation process hold you back from starting your dream business. Let Emerald take care of it all for you. Contact us today to learn more about how we can help you incorporate your business with ease.
Taxes for sole proprietorship vs corporation
As a sole proprietor, you pay personal tax rates on your business’s earnings, which increase as your income rises. However, if you incorporate, you pay personal tax rates only on what your company pays you, while your business pays the corporate tax rate on its earnings, which does not increase with higher business income.
Incorporation offers many benefits, including tax savings, increased credibility, and limited liability protection. With Emerald’s team, you can obtain your incorporation document within 24 hours, allowing you to start enjoying these advantages as soon as possible.
When should you incorporate
Generally, significant tax savings begin when a sole proprietorship hits $50,000 to $60,000 in gross annual revenue. However, waiting until then is not necessary.
If you project your business to earn over $50,000 in a twelve-month period, incorporating right away is the better choice.
Don’t wait to start pocketing tax savings! Contact Emerald’s team to learn more about the benefits of incorporation and how we can help you get started.
Incorporating not only offers tax savings but also provides liability protection. In a sole proprietorship, if the business is sued, personal assets such as a house can be targeted.
However, in a corporation, the business is a separate legal entity, limiting the liability to the corporation’s assets only, keeping personal assets safe.
How to incorporate
Incorporating your business may seem daunting, but it doesn’t have to be. You may be thinking that it’s a hard and confusing process, and you’re not alone in that thought. However, waiting in line at a registry and filling out a bunch of government forms is no longer necessary.
There’s an easier way – and you don’t even have to leave your couch.