Business Incorporation

Business Incorporation Services

At LilyWu Accounting Services, we possess extensive knowledge of business incorporation and are here to assist you in determining the most advantageous type of incorporation for your business activities. Our comprehensive business incorporation services are available to business owners throughout Burnaby and the Greater Vancouver Area.

Professional Corporations

In certain situations, professional organizations permit their members to register ventures through a corporation, establishing what is commonly known as a ‘Professional Corporation.’ While functioning similarly to regular corporations, a Professional Corporation is limited to providing specific professional services. Professionals such as dentists, pharmacists, doctors, lawyers, and others are eligible to establish these specialized corporations.

The Advantages of Incorporating Your Business

Incorporation stands out as the highly recommended long-term business strategy. Without this strategic move, you expose your finances to issues that may arise from the company. At LilyWu Accounting Services, we advocate for incorporation for its numerous benefits.

Benefits of Incorporating:

Limited Liability: Unlike partnerships and sole proprietorships, where owners bear all business liabilities, incorporation limits owners' liability to the amount of their investments in the business.
Business Continuity: An incorporated business remains operational even if shareholders change or depart, ensuring continuity despite ownership alterations.
Easier Capital Raising: Corporations can raise capital more efficiently through equity financing, involving the sale of shares to venture capitalists or angel investors.
Tax Savings: Incorporation subjects the company to favourable corporate income tax rates, surpassing individual tax rates.Additionally, incorporated businesses enable income splitting among family members, increasing tax savings.

Why Choose LilyWu Accounting Services to Incorporate Your Business

Business setup by an experienced accountant
Tailored share structure to accommodate future growth
Setup with CRA, including GST, Business Number, Payroll, and WCB
Expert advice on tax obligations
Tax planning to minimize liabilities
Guidance on managing books and records for CRA compliance
Year-end tax filing services
Business advisory solutions to address your unique challenges

Other Services

Have Questions About Your Accounting?

LilyWu Accounting and Financial Services is an experienced accounting firm, that can help you with almost every aspect of your accounting issues.

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Phone

(778) 998-6165

info [@] lilywuaccounting.ca

Address

2453-4720 Kingsway, Burnaby, BC