About RobertKoraca
Rank 294852
128 followers Joined April 2024
I'm just a guy who wants more out of life. I want to make my own dreams and be in complete control of my life.

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1

Questions

1

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asked in
Getting Started

I'm in Canada so I'm not sure how much or if it's any different than it would be in USA.
Do we register our business and if we do should it be Sole proprietorship, or LLC.

Whatever route you take, never try to evade paying your due taxes. It just isn't worth being caught out by the revenue men. They have the authority to go through everything.
On the plus side, keep all your valid receipts, claim for everything that can be legitimately linked to your business. Here in the UK I can also claim a small percentage of my household bills as I use a separate room as an office.
Tax evasion - not declaring what you should and trying to cheat.
Tax avoidance - claiming for everything that you legally can in order to reduce your tax burden.
The way I look at it, if I'm paying tax then I'm making money.
Good luck Robert.
Bux

Thank you very much for that Bux

Hello Robert
As far as the taxation goes, I really can't answer that for you. However, I do think it's probably best to have a separate bank account for your business. If for no other reason to keep any monies you gain from your affiliate marketing endeavors separate from your personal account.
Oh, and by the way I love the parts of Canada I've been in which are primarily the Alberta area and Banff. Beautiful country and great people.
I hope you have a great day.
Dan

Thanks for that.
Yes, Banff is beautiful.

You can start as self-employed till you become established, then think about an LLC; you do not need just as yet.

Resource I advise reaching out to a professional, as no two people's situations are the same.

Yes, this is very true.
Thank you very much for this.

You are welcome very much :)

Setting up a business is very easy in most states in the USA. I wouldn’t even worry about it in the beginning. Spend your time training and taking action to achieve your goals.!

Cool.
Thank you very much for that.

You’re welcome!

See more comments

What should we do as far as taxation and setting up our busniess?

What should we do as far as taxation and setting up our busniess?

asked in
Getting Started

I'm in Canada so I'm not sure how much or if it's any different than it would be in USA.
Do we register our business and if we do should it be Sole proprietorship, or LLC.

Whatever route you take, never try to evade paying your due taxes. It just isn't worth being caught out by the revenue men. They have the authority to go through everything.
On the plus side, keep all your valid receipts, claim for everything that can be legitimately linked to your business. Here in the UK I can also claim a small percentage of my household bills as I use a separate room as an office.
Tax evasion - not declaring what you should and trying to cheat.
Tax avoidance - claiming for everything that you legally can in order to reduce your tax burden.
The way I look at it, if I'm paying tax then I'm making money.
Good luck Robert.
Bux

Thank you very much for that Bux

Hello Robert
As far as the taxation goes, I really can't answer that for you. However, I do think it's probably best to have a separate bank account for your business. If for no other reason to keep any monies you gain from your affiliate marketing endeavors separate from your personal account.
Oh, and by the way I love the parts of Canada I've been in which are primarily the Alberta area and Banff. Beautiful country and great people.
I hope you have a great day.
Dan

Thanks for that.
Yes, Banff is beautiful.

You can start as self-employed till you become established, then think about an LLC; you do not need just as yet.

Resource I advise reaching out to a professional, as no two people's situations are the same.

Yes, this is very true.
Thank you very much for this.

You are welcome very much :)

Setting up a business is very easy in most states in the USA. I wouldn’t even worry about it in the beginning. Spend your time training and taking action to achieve your goals.!

Cool.
Thank you very much for that.

You’re welcome!

See more comments

Login
Create Your Free Wealthy Affiliate Account Today!
icon
4-Steps to Success Class
icon
One Profit Ready Website
icon
Market Research & Analysis Tools
icon
Millionaire Mentorship
icon
Core “Business Start Up” Training