Proprietorship

From a Single or Duo Ownership to Incorporation in QuickBooks

So you started out as a Proprietorship or Partnership and after several years your business has become so successful that your accountant has suggested it’s time to incorporate. This may due to a number of factors, but the amount of income tax you pay as a single entity in comparison to an incorporation, will be a key one. Okay, now what do I do about the company file that I am currently...

Read More

If you are a Sole Proprietor Should you Incorporate?

Although this is a QuickBooks site and having been in the accounting profession since 1988, I also consult with a number of clients that are still in the starting stages of their Canadian company. With most clients of this type, they have set up their business structure as a Proprietorship, which is okay, depending on the type of industry they are in and the amount of before tax net income they...

Read More