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🌟Ask An Expert: Time to Save $—The Ultimate Home Service Tax Plan with Robert Gauvreau🌟
Did you know that 92% of business owners pay more tax than they’re legally required to? I’m Robert Gauvreau, founder and CEO of Gauvreau | Accounting, Tax, Law & Advisory, and I’m here to help you ...
Hey Robert! I do some work under my name, and I have an incorporated business (limited liability) in Canada.
Is it advisable to register my name as a sole proprietor under my LLC to maximize my tax deductibility? Thanks!
Hey Julie. Is there any reason why you wouldn't bill everything from your incorporated business? Since you have it, I would suggest you do all of your work out of the incorporated business and bill from there (since it is already in place). Tax rate in the incorporated business will be around 12% and provide you with an added layer of protection. LLC's are only US based, so nothing to do there. The incorporation should be used for everything and maximize your deductions in there.
Thank you for clarifying! From the sound of it, it would be best to stick to billing everything through my incorporated business. I appreciate your advice!
