Tax on Business Income

If you have business income reported on your personal income tax return, you may be paying more income tax than necessary. If your business income exceeds that which you require to live on, you should consider incorporating a small business corporation. Tax savings gained through the operation of a corporation may enhance the wealth creation to which you aspire. In addition, issues of business liability affecting your personal assets may be mitigated through a corporate entity. Consideration of a corporate business structure must be carefully planned and tailored to each individual situation. Please consult a professional if you feel you could benefit from incorporating.