A Construction Contractor Saves Money by Incorporating | McEvoy Lelievre & Associates

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A Construction Contractor Saves Money by Incorporating

This construction contractor needed guidance when it came to maximizing his benefits. We offered up some smart solutions that helped him save money in ways he hadn’t even considered.

The Client

A Construction contractor.

The Challenge

Our client was looking to maximize his benefits, but was uncertain on how to proceed.

The Solution

By incorporating, this client could continue to maximize child benefits, while creating earnings which can be tapped into in the future.

By incorporating, and putting himself on payroll for a stipulated amount, he gained control over his personal income. And because the client’s personal residence is also used for his business, he was still able to charge a monthly fair market value rent to help cover his costs.

We also advised him that certain costs, such as that of vehicles used for business purposes, can also be moved in to the incorporated business.

Programs Used: Sage 50, Doc.it, Client Track, Office 365 | More About Virtual Programs »

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