While there are many benefits of incorporation, including protecting your assets and saving money, one of the most important reasons to incorporate is for the favourable tax results. Running your business as an officially incorporated company provides distinct tax advantages and reduces the risk of being audited. Here are some easy steps to make incorporation beneficial to you and your tax liability.
every penny in taxes you save is a penny you can reinvest in your small business. Most small businesses pay more in taxes than they need to, simply because they are unaware of the full extent of the tax write-offs available. With proper planning and a rudimentary knowledge of tax law, you can greatly reduce your company's tax burden and make it more attractive to investors.