There are many financial and tax benefits to incorporating, but here are also some disadvantages to consider so you can decide when is the right time to do so. Ania takes you through the basic steps of why, how and when you should incorporate. She also explains the different tax rates and what happens after you incorporate. If you’re already running a successful business and are considering switching to an incorporated business, Ania explains a few of the extra steps you’ll need to take to make the change successfully.

Note: The information in this video is for Canadian small business owners, however many of these rules apply around the world. Make sure to check with your accountant on details for your specific needs.