SRJ has accountants specializing in a wide range of consulting, including Financial Consulting, Financial Information Technology Consulting, Management Consulting, Payroll Human Resources Consulting, and Startup & New Business Consulting Services. Having timely access and expert opinion for your business will help you with growth and success. SRJ is here to provide you with the support you need to feel free to contact us!
Business Consultants
Professional Corporation Setup & Tax Planning in Toronto
A business that provides professional services to the public may be entitled to establish a professional corporation. Professionals that may incorporate their services include:
- Chiropractors
- Dental hygienists
- Dental surgeons
- Dental technologists
- Pharmacists
- Physicians and surgeons
CPA Services for Professional Corporations
The laws regarding incorporation of a professional service corporation can be
quite complex. For this reason it is crucial that you consult with our team of
expert tax specialists in Toronto before determining the best course of action for
you and your business. We will work to advise you with the best solution for
timing, setup, structure and maintenance of your corporation.
Incorporating your services will also allow you to benefit from favourable tax
rates for professional corporations in Ontario. By merely incorporating your
business you can save thousands of dollars every year by lowering the overall
income taxes you pay.
Corporate Tax Return Services in Toronto
We understand that most professionals may not want to use a good chunk of
their valuable time and resources on all the accounting, legal and tax issues that
arise and that must be considered to run their services and business. Our goal
at SRJCA is to handle all these issues so you can focus on what you do best.
Our tax specialists in Toronto will handle every step of the process including
filing the articles of incorporation, bookkeeping, preparing financial statements
and preparing and filing all the necessary tax documents and the corporate
income tax return.
Why Choose SRJ Chartered Accountants
The laws regarding incorporation of a professional service corporation can be
quite complex. For this reason it is crucial that you consult with our team of
expert tax specialists in Toronto before determining the best course of action for
you and your business. We will work to advise you with the best solution for
timing, setup, structure and maintenance of your corporation.
We will work to advise you with the best solution for timing, setup, structure and
maintenance of your corporation.
Other Tax Benefits
In addition to the tax benefits received by incorporating your services, there is also more flexibility in how you pay yourself. A sole proprietorship gets taxed on earnings right when it is received whereas a professional corporation has the choice to defer taxes by leaving money inside the corporation until it is needed or until it is more beneficial from a tax perspective. Other methods of receiving favourable tax treatment is by employing a family member and paying them regular salary or paying dividends to yourself as a shareholder.
There are many tax saving opportunities available if a professional corporation is properly set up. Consult our team of tax specialists in Toronto to establish a corporation that meets all your needs. We will find the best methods to minimize taxes for you. Learn about self-employed tax returns Toronto.
Read about Tax specialist for dentists Toronto, Accountant for chiropractors Toronto, Accountant for lawyers Toronto
Professional Corporation
Tax Advantages
- Benefit from favourable tax rates
- Flexibility in how you pay yourself
- Employ family members
- Pay yourself dividends
- Reduce tax from 50% to 15.5% (personal high tax bracket vs professional corporation tax)
Professional Corporation
Watch this short video to learn more about choosing the right accounting firm for your professional corporation:
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Set up a consultation with us to help you in your business. Leave the number crunching to us so you can focus on running your business.
SRJ Chartered Accountants has two conveniently located offices in the Greater Toronto Area.
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Client Success Stories
Alyza Raithatha - Integra Health Centre
Craig Gibson - Scotiabank
Abraham Top - Diamond and Diamond Lawyers
Shayan Rashid, CPA
Co-Founder
Shayan Rashid is dedicated to helping businesses grow by providing expert business consultation in Toronto and across Canada. With his strong knowledge in accounting, tax, and advisory, Shayan helps entrepreneurs and startups navigate complexity to build opportunities.
Junaid Usmani, CPA, CA, MTax
Co-Founder
Junaid Usmani works with entrepreneurs, startups, and businesses in growth mode, offering expert Business Consultations in Toronto and across Canada. He is an expert in tax strategy, financial planning, and company growth, helping businesses make smarter decisions by simplifying complexity.
Tracie Heier, CPA, CA, MPAcc
Partner
Tracie is a tax, accounting, and advisory professional for growing businesses, providing expert Business Consultation Services in Toronto and all across Canada. She has more than a decade of experience in helping growing businesses with strategic business advice.
FAQ
Frequently Asked Questions
SRJ Chartered Professional Accountants offers a comprehensive range of business consulting services, primarily focused on financial management. These involve bookkeeping, automation, financial forecasting, which helps businesses plan future revenues and expenses; budgeting, which ensures that funds are allocated effectively; and tax planning, which aims to minimize liabilities and maximize tax savings. We also offer payroll management to make sure that employees receive accurate pay and at the right time, and assist businesses in establishing accounting systems that allow them to operate smoothly. Moreover, SRJ CPA helps companies with compliance consulting, so the companies do not violate local tax regulations.
The number of meetings that you have with a business consultant will mostly rely on the needs of your business and the complexity of the services needed. To maintain continuous financial advisory services, e.g., tax planning, budgeting, and forecasting, it is common to check in every one to three months so that the business remains on track financially. To provide more project-specific information, such as significant business restructuring or expansion, more frequent meetings might occur at the start, and a reduction in frequency as the projects stabilize. Meeting once every quarter or so to review business objectives, which are subsequently adjusted according to the financial performance, and keeping the business focused towards its long-term goals is also beneficial.
Yes, SRJ Chartered Professional Accountants specialize in financial forecasting and budgeting, working closely with business owners to project future financial performance. We help businesses by analyzing past performance, predicting future revenue and costs, and allocating resources in a way that ensures business growth. SRJ CPA’s consultants provide detailed projections and work with owners to set realistic financial goals, monitor progress, and adjust strategies as needed. With a focus on cash flow management, we ensure that businesses are equipped to handle both short-term expenses and long-term investments, ultimately enhancing the business’s financial stability and ensuring its goals are met.
A business consultant can significantly contribute to your company’s growth by providing expert advice and actionable strategies across several key areas. These include optimizing financial operations, which can lead to increased efficiency and profitability, and ensuring tax efficiency to help retain more revenue. Consultants also assist with cash flow optimization by identifying areas where costs can be reduced and funds can be better allocated. By crafting strategic financial plans, they align the business’s operations with its growth objectives, helping the company scale effectively.
SRJ CPA’s consultants work closely with business owners by taking a hands-on approach, starting with a deep understanding of the company’s unique challenges, goals, and market environment. We then tailor our services, whether it’s accounting system setup, tax planning, or payroll management, to address specific needs. The consultants act as trusted advisors, guiding business owners through key decisions that will impact financial performance and operational efficiency. We provide continuous support, offering insights and recommendations based on real-time financial data, industry best practices, and regulatory updates.