We aim to provide educational, understandable content around common corporate tax issues. 聽We also help incorporated businesses in Canada to navigate the complexities of corporate taxation.
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A Section 85 Rollover can be used to reduce personal taxes when incorporating your sole proprietorship. This article will explain how a Section 85 Rollover works and give some examples to illustrate this tax planning technique.
Being classified as a personal services business means that your corporation will lose out on many of the tax benefits that usually exist for a corporation in Canada. Let鈥檚 learn why this happens and how to mitigate the negative consequences.
