In the states you can use your personal name as business and use regular tax info like social security card. You just add income to taxes at end of year or you have to pay every three months if you make so much money.
Well i beleive virtually existing business arent compelled to register their business. I am not sure about this though. But will let you know once I get more information regarding this.
you have to legally register a business the second you start making money under a company name... I would recommend getting a legit business for several reasons... the biggest two are the tax benefits... having a legal business will save you butt loads of money in taxes... and the other reason.... PROTECTION! Having a legit business differs your liability. Nothing worse than having a weird little hitch in your business that causes you to lose a lot of your personal property... Registering a business is canada is easy... costs less than $200 and can be fully done in a couple weeks. Definitely worth the effort.
I just realized that when registering, I would also have to choose between sole propriotorship and a corportation.
Online businesses that exist on the internet do not have to register. However, make sure you comply with Federal tax regulations.
yup, and each has it's own advantage... do a google search to find the definitive differences between the two. I would suggest of corporation as it offers MUCH more protection, though it does cost a bit more to register To reiterate... That's true, you don't have to register but you MUST declare all income and pay your taxes on the income of that business.