Transitioning to a Corporation
If you are a sole proprietorship and thinking about converting to a corporation, you’ve come to the right place. At Colin Phillips, CPA Professional Corporation, we are here to discuss the pros and cons of converting your sole proprietorship into a corporation. Whether you’re a start-up or have been operating as a sole proprietorship for many years, we can evaluate your business situation along with your family circumstances and advise you on the best legal form for your operations.
You may have decided to run your business as a sole proprietorship because it was a less expensive and less complicated way to start. However, as revenue grew, so did your need for financial protection and tax-saving options.
We can help you decide if the time is right to incorporate – sometimes it isn’t. If it is, we can help make the transition straight-forward while utilizing the tax rules during the rollover.