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Sole Proprietor or Corporation?

1 min read · Running the business

The trade-offs between operating personally and through a corporation.

Sole proprietor

Simple and cheap
Income taxed personally
No separation between you and the business

Corporation

Separate legal entity
Possible tax deferral on profits left in the company
Annual filings and accounting costs

When sellers incorporate

Usually once profit is consistent and higher than they need to live on.

Marketplace accounts

Marketplaces have rules about accounts and ownership. Read them before opening a second account.

General information for resellers, not financial, tax or legal advice. Marketplace fees and policies change; check the current rules before you buy.

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Keep reading

Running the businessOrganizing Inventory at Home

A small space works if every item has a place and a label.

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A short list of the supplies that cover most reselling needs.

Running the businessCanada Post vs Couriers for Seller-Fulfilled Orders

How to choose a carrier for orders you ship yourself.