Abrams Financial Toronto, Insurance | Wealth Management | Tax Advisory

Incorporated Professionals

The Incorporation Advantage:

  • Ability to Defer Taxes Each Year: Ability to indefinitely defer tax EACH YEAR, which would otherwise be payable immediately if the professional was unincorporated
  • Take Advantage of Low Corporate Tax Rates: Corporations in Ontario pay tax at a rate of 15.5% on the first $500,000 of active business income, allowing for the tax-efficient operation of your practice
  • Increased Ability to Income Split: Ability to allocate what would otherwise be YOUR earned income to low-income family members who are shareholders to significantly reduce your overall tax-burden.
  • Tax-Efficient Funding of Business Expenses: Ability to purchase day-to-day business expenses cheaper than if you were operating as a sole proprietor
  • Flexibility in How You Are Remunerated: The ability to pay dividends to shareholders who are over the age of 17 provides added flexibility and advantages from a tax perspective, unavailable to unincorporated professionals
  • Access to $800,000 in tax-free Capital Gains: On an eventual sale of the shares of your incorporated practice, $800,000 of capital gains can potentially be earned without paying any tax!
  • Ability to Select non-calendar Year-End: Enables income earned by the corporation in one year to be taxed In your hands in the subsequent year.
  • Probate Planning & the Ability to Reduce Probate Fees on Death

How Can We Help?

Abrams Financial can provide you, the Incorporated Professional, with the entire range of services required to operate your Professional Corporation so that you can focus on what’s important: your business & your clients!

We work with Ontario’s leading accountants to make sure all our professional clients are taking advantage of all the amazing benefits incorporation has to offer.

Please call us (416) 238-5536 for a complimentary consultation on setting up your incorporated practice.

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