[nish1500]

I haven't incorporated and don't intend to. I don't need limited liability, and I am not working with companies that require me to incorporate.

Incorporation would mean a ton of paper work, more taxes (in Canada at least), more complications, and 3x the accountant's fees.

For what it's worth, my project nets 200k, is 3 year-old, and I have a degree in accounting and taxation.

[kohanz]

I run a sole prop in Canada too. I agree for the most part, but I think the "more taxes" aspect would be very situationally-dependent. Perhaps if you intend to flow all of the corporations earnings through as income immediately then you may pay more taxes, but often one reason to incorporate is to be able to defer those taxes by only taking the income that you require at the time (tax deferral to years when you'll be in a lower bracket). The only way I've been able to avoid huge income tax bills as a sole prop is by making massive RRSP contributions. Being incorporated would give me a bit more flexibility in that regard.

You could also employ a spouse in a role (e.g. administrative) to provide a form of income splitting (although the gov't is planning to crack down on abuse of this).

[tempestn]

This is all true, but if you haven't seen them already, you'll probably want to read up on the changes that are being proposed to taxation of CCPCs currently. All the details are supposed to come out with the 2018 budget, but here are some blog posts covering the developments so far:

http://www.thebluntbeancounter.com/2017/09/tax-planning-usin... http://www.thebluntbeancounter.com/2017/10/tax-planning-usin... http://www.thebluntbeancounter.com/2018/01/the-revised-tax-o...

[monting]

Curious, so are you running as a sole proprietor? Wouldn’t it be eligible for the small business deduction?

[juicy-fruit]

Ah man. I'm in Canada too and I wanted to incorporate for the sole reason of getting a Apple Developer account as a company instead of having my name. This would make my "startup" seem more legit. I guess even if an accountant doesn't want to bother with the headache of paperwork and taxes, I shouldn't either.

I'll just get a regular developer membership instead.

[s0rin]

Is your project based around financial/accounting technology?