Why Set Up Your Business With a CPA?
The way you set up your business affects how much tax you pay, how you pay yourself and how much paperwork you face every year. Online incorporation services can file the forms, but they rarely tell you whether incorporating makes sense, which year end to choose or how to structure your shares.
Because we also prepare corporate tax returns, we set up your corporation with your future tax filings in mind. That means fewer surprises at your first year end and a structure that supports your goals.
Thinking about incorporating? Find out if it makes sense for your income before you file.
Federal vs. Ontario Incorporation
You can incorporate federally under the Canada Business Corporations Act or provincially under Ontario’s Business Corporations Act. A federal corporation can use its name across Canada, while an Ontario corporation is simpler when you plan to operate only in Ontario. We explain the differences, including name protection and filing requirements, and help you choose the option that fits your plans.
Who We Help Register
Business Corporations
For owners who want limited liability, lower corporate tax rates on retained profits and room to grow.
Professional Corporations
For doctors, dentists, chiropractors, pharmacists and other regulated professionals who are allowed to practise through a corporation.
Not-for-Profit Corporations
For community groups, associations and charities that need a formal legal structure.
Sole Proprietorships and General Partnerships
For new or smaller businesses that want a simple, low-cost start. When you are ready, we prepare your business tax return each year.
Our Business Registration Services Include
- Conducting preliminary name searches and obtaining NUANS name search reports
- Preparing Articles of Incorporation
- Drafting share conditions, as appropriate
- Preparing organizational board and shareholder resolutions and related corporate documents to issue shares
- Electing directors and appointing officers
- Enacting the general operating by-law and borrowing by-law
- Selecting the financial year end
- Completing minute book registers and ledgers, and assembling the minute book for delivery to you
- Business name registration in Ontario
We can handle all of your incorporation and business registration needs anywhere in Ontario and Canada.
NUANS search, articles, by-laws and minute book, all done for you by one CPA team.
Should You Incorporate?
Incorporating is not right for every business. A corporation can offer lower tax on profits you leave in the business, limited liability and more flexibility in how you pay yourself. It also comes with extra costs, including annual corporate tax returns, financial statements and more bookkeeping.
We review your income, expenses and plans, then show you the numbers side by side. If it makes sense to stay a sole proprietor for now, we tell you. For a deeper review, see our tax planning services or our business consulting services.
After You Incorporate
Setting up the corporation is only the first step. We can also help with:
- Bookkeeping and accounting setup so your records are ready for year end. See our bookkeeping services.
- Year-end financial statements for your corporation, lenders and CRA. Learn about our financial statement services.
- Corporate tax returns (T2), payroll, and T4 and T5 slips for owners and employees.
- Salary vs. dividends advice so you pay yourself in the most tax-efficient way.
Our Simple Process
- Consultation. We discuss your business, goals and whether incorporating is the right move.
- Fixed quote. You know the full cost before any work begins.
- Name search. We run a preliminary search and obtain a NUANS report.
- Incorporation documents. We prepare articles, share conditions, by-laws and resolutions.
- Filing. We file with the federal or Ontario government.
- Minute book delivery. You receive a completed minute book, ready for your records.
Start your corporation on the right foot. Speak with a Brampton CPA today.
Common Incorporation Mistakes We Help You Avoid
Many new owners incorporate quickly online and only find problems at their first year end. Common issues include choosing a year end that does not suit the business, issuing shares without proper resolutions, keeping no minute book, and mixing personal and corporate bank accounts. Others forget that a corporation must file its own T2 return every year, even with no income, and may need to register for HST and payroll accounts with CRA.
When we set up your corporation, we look ahead to these issues. We help you choose a sensible year end, put the right share structure in place from the start and prepare complete corporate records. We also explain the ongoing filings your new corporation will have, so you start your first year with clear expectations and no surprises.
Serving New Businesses Across the GTA and Ontario
Our office is at 2 County Court Blvd, Suite 400, in Brampton. We incorporate and register businesses for entrepreneurs in Brampton, Mississauga, Caledon, Bolton, Georgetown, Milton, Toronto, Etobicoke, Vaughan, Oakville and across Ontario.
At Bajwa CPA, we take the time to learn about and understand each client’s business to make sure we truly meet their needs and provide outstanding professional service. Our goal is to deliver our services in an easy-to-understand manner that is both timely and reliable.
Frequently Asked Questions
Should I incorporate federally or in Ontario?
If you plan to operate only in Ontario, a provincial corporation is often simpler. If you want name protection across Canada or plan to expand to other provinces, a federal corporation may be the better choice.
What is a NUANS report?
A NUANS report is a name search that compares your proposed corporate name with existing business names and trademarks. It is generally required when incorporating with a name rather than a number.
Can a professional incorporate?
Many regulated professionals, such as doctors, dentists, chiropractors and pharmacists, can practise through a professional corporation, subject to the rules of their governing body.
Do I need to register a sole proprietorship in Ontario?
If you operate under a business name that is different from your own legal name, you generally need to register that name in Ontario.
What is a minute book?
A minute book holds your corporation’s key records, including articles, by-laws, resolutions and registers of directors, officers and shareholders. We prepare and deliver it to you.
Get Started Today
Looking for incorporation and business registration services in Brampton or Mississauga? Call 416-907-0568 or contact us today to book a consultation and get a fixed quote.
