02-11-2011 02:51 PM
I have to admit I'm not familiar with US tax laws. In Canada, I refer to setting up a sole proprietor or individual business. Here, you can operate as a business, but you report taxes on your personal tax return as if it is just your personal income (ie. no need for separate filing or expenses), and you can also deduct expenses there as well. Unlike an incorporation, this type of business does not provide separation (ie. you and the business are legally one and the same). However, the plus is you can present yourself as a busines with a business name, and also more clearly provides the mechanism to enter deductions for business expenses.
But yes, as you mention, best to check local area laws and regulations. I simply offer a suggestion for an alternate to consider.
02-11-2011 03:42 PM
Having just gone through this process I can say it was painless really.
Tuesday afternoon, applied online to BlackBerry App World.
Wednesday afternoon, received E-mail with document to notarize and send in.
Thursday morning, stopped at bank - they notarized (my bank did it free of charge) and I E-mailed it in.
Friday afternoon, received E-mail that I could submit my app to the App World.
Might seem like a long process for some, but for those that really want to do this it's quite painless.
02-11-2011 03:46 PM
Yes, the process to register for the Vendor Portal was not too bad. We were talking about the process to setup a business and how there are things to consider when deciding to choose your business structure (tax, paperwork, registration, revenue, liability, etc.).
03-17-2011 10:41 AM - edited 03-17-2011 10:43 AM
Quick question for you. I have recently registered as a sole proprietor and Im about to also register for an HST (ontario) account so I can gain tax credits on expensies. The problem I see though is that I will need to start charging tax on all items sold. hows does that factor in with the Blackberry App world? when they pay us do they say how much of that is for tax? or are we some how exempt from tax in this case (and how so)? is there some option I did not see in the app world portal to give a HST number?
Not sure if you have an answer here, but if you do it would help me out since I cant find this information anywhere.
03-17-2011 11:44 AM