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).
Last edited by itolduandso; 07-03-2021 at 11:43 AM.
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