Forum

Seller's private address on Amazon - avoid by setting up company? (tax impact?)
 

Canadian sellers selling on Amazon - if you don't want the private address show on Amazon, what do you do? Is the only solution setting up a company?

I am currently doing taxes on T1 Personal Tax return and I am simplifying things by filing the taxes on paper and attach a simple P&L statement, similar to one suggested on ebay community:

http://www.pierrelebel.com/lists/P&L-sample.htm

If I register company, can I continue with the same P&L statement and file T2 business tax statement? Or do I need to do proper accounting and have a tax accountant file taxes.

I want to keep things simple as I don't have any sales on Amazon yet and I don't know when am I going to start generate any income.

But I want to avoid having my name and address showing on Amazon as seller's address.

I am newbie to Amazon so still learning. How do avoid showing my name on Amazon?

If the only way to hide my name is I need to setup company, what's the simplest way to do taxes?

(What are my options? - I mean the official options .... I am quite overwhelmed with getting my amazon listings up and running so I don't really have the bandwidth to deal with some "stealth" things etc.. unless I really have to do that. I am trying to do everything by the book so hopefully I don't get kicked out of Amazon just after listing my first item.)

Thank you.

(PS I was looking into setting up an LLC in the US, it's quite simple, that would give me a company name and I would be able to do the taxes on my T1 personal statement, however, the issue with this setup is that there will be potential double taxation involved because the income generated in the LLC doesn't necessary reflect on the T1 for the same period etc.. among other issues. SO I guess this isn't a good way to solve the problem I am trying to solve).

Re: Seller's private address on Amazon - avoid by setting up company? (tax impact?)
 

keep it simple,pay your taxes.

Re: Seller's private address on Amazon - avoid by setting up company? (tax impact?)
 

Just don't comment if you don't understand what's being asked. He said nothing about avoiding taxes. D@mn you feeling the need to comment in every thread with irrelevant comments gets on my nerves. Not paying taxes is exponentially more simple than paying them anyway. :mad2:

@OP - your question is pretty in-depth for this board. "Talk to an accountant" is the typical answer given when users start asking about the legal aspects of using a business for your selling identity.

One thing I can tell you which may or may not be relevant to your situation is that single member LLC's in the USA do not pay taxes. Since they are run by one person they are treated as "pass through entities" and all of the business income goes on the personal tax return of the sole owner. I don't think there would be any risk of double taxation if you started using a single member LLC - I'm just not sure if the income from such an LLC could be passed to a foreign (Canadian) tax return.

Re: Seller's private address on Amazon - avoid by setting up company? (tax impact?)
 

Get a mailbox in Canada or the US, and use that mailbox or forwarding company as the business address

That way at most people can see publicly is your mailbox address, not a personal home address etc.