[Verse 1]
When you start your consulting game
Two paths ahead, they're not the same
Sole proprietorship keeps it plain
All on T2125, profits and pain
Your business losses help you save
Offset your income, that's the way
[Chorus]
Two structures, two different doors
Sole prop's simple, corporation's more
T2125 versus separate returns
Different strategies, different burns
Same deductions in many ways
But incorporation opens new days
[Verse 2]
Partnership follows similar rules
Same form, same administrative tools
But when you incorporate the scene
Your business becomes a separate machine
Canadian-Controlled Private Corp they call
A taxpayer standing on its own, standing tall
[Chorus]
Two structures, two different doors
Sole prop's simple, corporation's more
T2125 versus separate returns
Different strategies, different burns
Same deductions in many ways
But incorporation opens new days
[Bridge]
Small business rate at eleven to twelve-point-five
On first five hundred thousand, keeps profits alive
Salary, dividends, rental, reimbursement flow
Private health plans and vehicle arrangements grow
Money moves from corporate to personal space
Planning opportunities all over the place
[Verse 3]
Sole prop administration's light
But fewer options for tax planning might
Corporation's got complexity more
But opens up that strategic door
Both can claim the same deductions true
But how they flow depends on you
[Chorus]
Two structures, two different doors
Sole prop's simple, corporation's more
T2125 versus separate returns
Different strategies, different burns
Same deductions in many ways
But incorporation opens new days
[Outro]
Choose your structure, choose your way
Both have merits for your pay
Simple sole prop or corporate scheme
Both can help you reach your dream