by Not an Accountant
(Ontario)
Sometimes You Need Tax Advice
Hello, and thank you for offering this opportunity to ask and read through various bookkeeping and accounting questions.
We're a family run operation (2 parties) looking to incorporate. Part of our work is purchasing stock and part is selling. The bulk of our sales occur in online locations and to individuals in the USA; a minority of sales are Canadian (spread out relatively equally across the Provinces) and a minority of sales are International (spread out across different Countries). The bulk of purchases occur in Ontario (our home base) with a minority from International (predominately US) locations.
Does it make more sense for us to Incorporate Federally or Provincially? And would it make sense for the selling arm and purchasing arm of the business to be incorporated as separate entities?
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