Quote Originally Posted by CPST_Manda View Post
I also didn't want to give out my SIN on 100 receipts that may end up anywhere. I chose to spend the 60.00 to register my business in Ontario, but that does not require me to charge HST since daycare is exempt.
Does that affect anything other than not having to use your SIN and being able to use a name other than just your full name? I'm thinking of registering my business because I want the business name to be something other than just my name but I'm worried that it will just complicate things like income tax, insurance, etc. Do you pay yourself out of the money the business makes? (for example, the business makes $700, you pay yourself a salary of $450 and the rest goes for supplies) or do you just make the $700 and then basically pay for your own supplies out of "your own money"? Hopefully that makes sense. Basically, I just want an idea of how different it is having your business registered than not.