To Incorporate or Not to Incorporate – Very Good Question
I’m frequently asked by new and current clients if they should incorporate. In most cases the answer is not straightforward as there are a number of issues to consider;
- Is your type of business vulnerable to lawsuits?
- How much control do you want to have?
- Are you planning to re-invest earnings into the business?
- To what degree can you see your business growing?
- Are you aware of the tax implications of the different ownership structures?
Below are the 3 Canadian basic business structures and their description, along with the Pros and Cons of each..