Tax Tip: Incorporate & Split Income

by Dean Paley on January 26, 2013

Here is a proven strategy to reduce your overall tax bill by incorporating your business.

The top personal tax rate in Ontario is 45% on income over $132,000 and 48% on income over $500,000. For small business corporation, the tax rate is 15.5% and the personal rate for dividends is quite attractive.

By incorporating your business and issuing shares to yourself and your spouse, you may be able to significantly lower your overall tax bill and Pay Less Tax!

Pay Less Tax Services

If you would like to have us prepare your personal income tax, please give a call at (289) 288-206 or email us to arrange your appointment. If you are out-of-town, you may take advantage of our tax-by-email or tax-by-fax services.

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