Your Questions About Doing Business Online Government
Laura asks…
Online Business Store? – Canada?
Hello,
I am looking into opening an small online business store. I was just wondering (Canadians) if you have to notify the government.. like claim it or whatever? Like do they need to be aware of it?
Jere answers:
The government doesn’t need to be ‘notified’ of your business.
However, you do need to report all income, which amounts to the same thing. If you fail to do so, they will catch you, and you will go at minimum pay 2-3 times as much as you owe in penalties and interest, and if it’s egregious enough, you will be charged criminally, and go to jail.
Remember, by opening an internet store, you’re effectively advertising your presence, so it’s not like you can hide.
Sharon asks…
what are leagal constraints faced by ebay?
ebay is doing online business. is there any hurdle in the way of running online business by ebay. if government is not encouraging , what could be those issues i any let me know plz?
Jere answers:
As you can imagine there are lots of hurdles when it comes to running a business.
Ken asks…
Online Business Tax Help?
I am creating a online baby boutique selling clothing & bows for children as well as selling used clothing. How do I go about having taxes taken out so I don’t get in trouble with the government and what is the limit I can sell without getting in trouble? Any advice would be great thanks!
Jere answers:
You don’t. It is just like having a brick and mortar store. You have to plan and pay taxes on your own.
Nancy asks…
Im about to work as a research assosiate – What do i need to know ?
The thing is i have to do a research test in my next interview.
WHat is it actually this “research test”.
Does anyone know?
Company Profile: Is a company elected by clients to check on other companies which they are interested in doing business with.Diligence/Fraud/Government filing check.So i maybe hired as the research assosiate incharge of the article review/check company filing/online database check/goverment sourcing.
Thanks people and wish me luck!
Jere answers:
?
Sandra asks…
What do you think about how when companies do business over the internet (selling) they don’t pay sales tax?
Do you think it is beneficial to society that companies
doing business over the Internet should be exempt from collecting sales tax? Some feel that not to tax on-line business transactions is regressive. It disproportionately benefits upscale citizens most likely to shop on-line. It is said that state and local governments are being deprived of the sales-tax revenues they rely on to run schools, build roads and other services. What are your thoughts on this issue?
Jere answers:
Companies that buy stuff over the internet may not pay sales tax, but they are supposed to pay use tax. Use tax is the complement to sales tax, so the states will always get their revenues.
People are also supposed to pay use tax when they buy stuff online, but most people don’t bother and it’s practically unenforcable.
If people and companies paid their taxes right, then your argument is a moot point, since the tax will be collected by a state. Sales tax revenues are huge for states that do collect sales tax. Don’t forget that there are 5 states that don’t have sales tax. In these cases, they usually have higher income or property taxes to make up the difference.
I don’t think it makes a difference for “upscale citizens,” because if they make more, they pay more in income taxes; they also probably own property, so they’ll pay more in property taxes; they’re also spending more, so they’ll pay more in sales taxes.
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