This may well be answered later in the course, if so please indicate if that’s the case. I’m very interested to know how to step in and out of the public if I need to….without mistakenly exposing myself through error to the public. I operate a couple of businesses…one provides services to businesses (primarily online). Those businesses want to be able to deduct the cost of my services so in theory the “income” is traceable back to me. I also don’t want to have to collect and submit HST Another business is a restaurant. 80%+ of our sales is via debit/credit. In order to get the payment processing services one needs a “business account”, in order to get a “business acount” one needs to show a business REGISTRATION. A private members organization (would like more details on how to establish and maintain) may be the answer but the acceptance of debit/credit may be tricky. Is a way to open a “business” account privately or is it by definition going into the public. Thank You
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There should not be a need to show a business REGISTRATION in order to get a business account. There should not be a need for a business account either. A legal entity with a tax ID should suffice. I use a trust and a private members organization. I was able to get a bank account, a card processor and do not charge tax because I did not volunteer to be a tax collector and did not register to obtain a business license. A good source for trust and a private members organization set up is https://www.houseofmarkus.org