Professional Corporations

Contact Neufeld Legal PC for your incorporation legal work at 403-400-4092 / 905-616-8864 or Chris@NeufeldLegal.com

Professionals seeking to optimize their business operations through corporate structuring and the potential tax advantages that it can provide, need to look at the advantages available through the incorporation of one's professional practice as a Professional Corporation. A professional corporation is a legal construct, much in the way of other commercial companies, though having specific restrictions and obligations as a result of being regulated by the governing professional body, and in turn the provincial statute that has been enacted to permit the profession to structure its business operations into a professional corporation.

So what are the advantages available through a professional corporation. Potential advantages include: reduced corporate tax rates, ability to claim small business deduction, preferred capital gains tax treatment on the disposition of corporate shares including use of life time capital gains exemption, allowing family members to hold non-voting shares so as to facilitate income splitting, and tax deferral opportunities.

At Neufeld Legal P.C., we have the experience and insight to assist you in structuring your professional practice as a Professional Corporation, whether you are a physician, health care provider, dentist, veterinarian, accountant, engineer, architect, lawyer or other professional (provided it is permissible pursuant to provincial law). Contact us at 403-400-4092 [Alberta], 905-616-8864 [Ontario] or via email at Chris@NeufeldLegal.com.

* Please note that the flat rates associated with a standard incorporation are strictly limited to a basic incorporation (federal, Ontario, Alberta) and does not involve other matters that might be corrollary to the incorporation process or might be atypical for a standard incorporation, including but not limited to related legal or tax advice, engagement with other governmental bodies or professional bodies, professional corporations, licensing, drafting of pertinent business contracts (i.e., shareholders' agreements), negotiations, disputes, financing, coordination with other companies or other legal structuring.

 

Contact us via email at chris@neufeldlegal.com or call 403-400-4092 / 905-616-8864.