Incorporating a Business in Canada: Corporation vs. Sole Proprietorship

Should you be incorporating your business or should you stay a sole proprietorship in Canada? That's one of the most popular questions I've been getting from all of my different small business and tax videos over the years. And finally, I'm here to provide some answers!

I ran my business as a sole proprietorship for 5 and a half years, even though I felt a lot of pressure from other business owners to incorporate. It's now been over a year since I incorporated my business, and I've gotta say, I'm so glad I waited (no regrets!).

Although I provide the pros and cons of incorporating, it's really a personal decision and one that working with an accountant can help you figure out. Hopefully, this video provides some insight and helps you make the right decision for you!

📖 CHAPTERS
00:00 Introduction
02:29 My journey from sole proprietorship to corporation
03:25 Benefits of incorporating your business in Canada
08:23 Rule of thumb for incorporating your business in Canada
10:08 How RRSPs can factor into your decision
11:38 Reasons why you SHOULDN'T incorporate

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