Forum Moderators: martinibuster
Basically I offer webhosting services and adsense ads on my web sites. Therefore my first income is from Paypal for hosting services and other is from Adsense
If I register a business name how should I classify it. Marketing? Internet Services?
Since I will be offering both of them I am really confused, also I was wondering what are my liabilities as a business registered in Ontario Canada but have been receving money from U.S.?
And is it a positive thing on Google's eyes to be a business rather than an indivual?
I would defiently appreciate any help about this issue
Thanks,
Maybe it's not worth to register anything yet? For example I only earn low $#*$! a month and decided not to mess with the government yet (at least till I start making over $1k). Running costs would consume most of my earnings. I asked ladies in the bank wheter my cheques are noticeable by govt and she said "no, they will never hear about them, it's not like wire transfer". I confirmed it with few other people and they said it's true.
Oh... it's Eastern Europe here.
And is it a positive thing on Google's eyes to be a business rather than an indivual?
As far as I am aware, there is no difference in terms of positives/negatives when you choose this.
what are my liabilities as a business registered in Ontario Canada but have been receving money from U.S.?
There are no liabilities for this. You have to declare your earnings in which ever country you live in and pay tax on it accordingly. You do not have to declare anything to the US IRS as far as I am aware (I am based in the UK and am presuming that it works in a similar way in Canada to here).
If I register a business name how should I classify it. Marketing? Internet Services?
Call it what you want, I wouldnt worry too hard about this... Internet services sounds fine.. nice and general.
Maybe it's not worth to register anything yet? For example I only earn low $#*$! a month and decided not to mess with the government yet (at least till I start making over $1k). Running costs would consume most of my earnings. I asked ladies in the bank wheter my cheques are noticeable by govt and she said "no, they will never hear about them, it's not like wire transfer". I confirmed it with few other people and they said it's true.
I certainly wouldn't recommend withholding that kind of information from the inland revenue... It may not be as strict in eastern europe where you are, but most governments would consider this tax evasion and if you get caught you will get a hefty fine.