Should I Incorporate?

Transcript:

Hello. I am Jonathan Sears. I work for a Chartered Accountancy firm called Sears Chartered Accountants and topic number one is Should I Incorporate?

Should I incorporate is not an easy question. All the facts have to be considered very carefully. The most important fact is first of all, would you be considered as an employee the way you are right now. If you are an employee right now, you probably fall offside and become a personal services business if you decide to incorporate which I will address at a later topic.

Assuming you wouldn’t there is a great advantage from a tax perspective to incorporate. The three main advantages are creditor proofing, income splitting and tax referral which I will tackle individually on the next three topics. But the most important thing is whether you should incorporate or not is to come and talk to somebody like me.