For professionals such as lawyers, accountants, doctors, and other healthcare practitioners, forming a professional corporation (PC) offers numerous advantages, including personal asset protection and tax benefits. At BARR LLP, our knowledgeable lawyers specialize in establishing and managing professional corporations, helping you safeguard your practice and optimize your financial situation.
Our professional corporation services include:
- PC Formation: We guide you through the entire process of forming a professional corporation, from drafting and filing the required documents to obtaining the necessary license to practice from your profession’s governing body.
- Tax Planning: By operating your practice through a professional corporation, you can benefit from lower corporate tax rates and income-splitting opportunities with your spouse or adult children. Our lawyers will advise you on effective tax planning strategies to maximize these benefits.
- Corporate Governance: We assist in establishing corporate governance structures for your professional corporation, such as bylaws, resolutions, and shareholder agreements, ensuring compliance with legal requirements and efficient business operations.
- Ongoing Support and Maintenance: BARR LLP provides ongoing legal support for your professional corporation, including annual return filings, updates to corporate records, and advice on changes to corporate structure or regulatory requirements.
- Practice Transitions: If you plan to retire, sell, or otherwise transition your practice, our experienced lawyers can guide you through the process, ensuring a smooth and orderly handover of your professional corporation’s assets and operations.
By entrusting BARR LLP with your professional corporation formation and management, you can focus on providing exceptional services to your clients while enjoying the peace of mind that comes from knowing your practice is legally protected and financially optimized.
