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Register as a business

by Sleika
4 replies
First off, big thank you to this forum, asked a couple very newbie questions and the support/advice was unexpected.

This is something im serious about venturing into but want to make sure i have everything lined up before i go foward, being from Canada, do i need to register myself as business for tax purposes, etc ...

Is there anything im overlooking before going forward ?
#business #register
  • Profile picture of the author BloggingPro
    This is really a question you should be asking a tax professional. Not trying to rain on the parade here, but definitely something you should talk to your local tax office or small business admin about.

    BP
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    You're going to fail. If you're afraid of failure then you do not belong in the Internet Marketing Business. Period.
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  • Profile picture of the author TheArticlePros
    Originally Posted by Sleika View Post

    First off, big thank you to this forum, asked a couple very newbie questions and the support/advice was unexpected.

    This is something im serious about venturing into but want to make sure i have everything lined up before i go foward, being from Canada, do i need to register myself as business for tax purposes, etc ...

    Is there anything im overlooking before going forward ?
    From a US standpoint, you definitely need to register yourself into a corporation of some sort. When you do any business as a sole proprietor, if someone choose to sue you, they can come after everything you own.

    For our court system, if you register as an LLC, they can only come after you for the amount of money you've invested into the corporation. Type S and Type C corps and LLPs are a little different, but they still protect your personal assets.

    Talk to an accountant and/or a lawyer and see what'll work the best in your situation.

    -- j
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  • Profile picture of the author AllanWM
    Without a doubt, contact a tax pro. Laws and regulations can change affecting which business entity may be right for you.

    In the US, I believe the LLC is the choice for most IMers, but courts seem to be scrutinizing the charging order for LLCs and so the protection once offered by an LLC may not be as cut and dry as it once was.

    Good Luck,
    Allan
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  • Profile picture of the author threezerozero
    i would say read up on the different types of incorporations to figure out their differences and choose the one that best fits. if you do decide to do an LLC, youll need to find a partner even if you're working alone, some people have a family member take 1% or 0.5% of the shares just so that there is more than one person on the LLC.

    once you figure out which type of incorporation you're looking to apply to definitely speak to a small business attorney or a tax professional to help you sort things out. applying is the easy part, but applying correctly with all the documents and articles that you need can sometimes be a headache. usually depends on the state that you'll be headquartered and for that, you might need registered agent services. if you do, check out Incorp Services:

    Registered Agent / Resident Agent Service - National Registered Agents
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