Ready to Start Business - Follow-up
Thank you Valerie - a few follow up questions…
1. You noted that I should save expense receipts (phone, laptop, etc.). Do you mean that I can reclaim TVA, or is this for Income Tax deduction? I think Income Tax advantages are limited to 34% automatic rebate, so please clarify how I can benefit from expense receipts.
2. My wife and I will both be active in this consulting enterprise, serving the customers in different capacities. She will be mainly involved in research, report generation, communications, admin, and other in-house services, while I will be providing mainly in-field support. Would it make sense to set up separate micro enterprises from beginning for my wife and myself, or should we just wait until invoices approach annual limit to split up business then?
If so, then should we invoice some customers from one enterprise and others from the second, or would it make more sense to invoice retainers for in-house work from my wife’s enterprise and field services from mine? Thoughts?
Thank you for your guidance!