Incorporate a Business in Ontario

If you are planning to incorporate an existing business or a new business, either federally or provincially, we at Yag Accounting provide you with great planning opportunities and tax advantages that can set you on the right track. We have enormous options that can scale you to lots of provisions and limited liabilities.

Why is Incorporation of Business required?

Incorporation of your business helps you to do business all across Canada under the same business name, even if some other company has similar name operating in some province or territory.

Some of the key services about incorporating a business in Ontario:

  • Benefits of incorporating your business
  • Choosing the right corporate name
  • To check the availability of the corporate name
  • Information required registering corporation
  • Registered corporate address
  • Filling Forms, Articles and Initial Returns
  • Getting registered for HST, Payroll, WSIB
  • Corporate Trade Names
  • Registration Cost
  • Corporate Minute Book, Seal and Shares
  • To get registered for HST, Payroll, WSIB
  • Corporate Trade Names
  • Cost of Registration

We at Yag Accounting provide same day services by reviewing all the documents before initiating the documentation process for incorporating a business. Once the incorporation process is complete, the required documents such as certificate of incorporation, name registration, and business number are provided to you. If required, a GST/HST account number is also given furnished.

The main advantage of Federal Incorporating your business is that you can do business all across provinces and territories in Canada under the same business name, even if some other company, corporation, or organization is already using the name in some province or territory. So, if your company is federally incorporated, you can operate your business in any province or territory.

Corporation vs Sole Proprietorship vs Partnership

A corporation is a separate legal entity and is different from a sole proprietorship or partnership. A corporation has a separate legal existence independent of the owners of the business. A corporation can buy, own and sell the property, sue and be sued. It is taxed separately from their owners and it must file its own income tax returns.

Incorporating a business has large tax advantages and major benefits which include:

  • Reduce income tax rates
  • Carrying forward the losses offset profits in subsequent years
  • Income breakdown
  • Managing and controlling Income
  • Potential Tax Deferral
  • Advantages for Small Tax Deduction
  • Corporations Carry On – unlimited life span
  • Capital Acquisition

Incorporation – Provincial vs Federal

Provincial incorporation is your business operating primarily within one province, whereas Federal incorporation is your business needs the nationwide business name protection, or your business is or will be operating internationally.

At Yag Accounting, we provide the best accounting and financial solutions for your business to incorporate the financial needs in every aspect. We can assist you to Incorporate a Business in Ontario that keeps a record of all the accounts and financial situations that gives a vital gains for the widest number of prospects.