How does a corporation go about buying bitcoin? Our landscaping business is incorporated so is it as simple as the company just buying bitcoin as an asset?
#asknostr
Discussion
Where are you based?
Ontario, Canada
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know more about buying in Canadania
shakepay is easiest
I use Shakepay all the time for my personal buys, but just wondering about our business buying Bitcoin?
why would that be different
I wouldn’t think it is, but that’s why I’m asking. So the business can just buy and hold it? Any tax consequences?
Looks like they have a business product:
Cool, I’ll have a look. Thanks!
Depending on where you are in Canada, nostr:nprofile1qqs94rjcrut2qyhzf54xgq2j44tzqkxtqe0pmu5wjp7ph75zc9gv3wspzemhxue69uhhyetvv9ujuurjd9kkzmpwdejhgqgjwaehxw309ac82unsd3jhqct89ejhxqg5waehxw309aex2mrp0yhxgctdw4eju6t05aupqu just announced a venture with Bow Valley Credit Union (Alberta) where you can buy directly from your bank account. In your case, a business account.
After transaction you can immediately sweep into cold storage.
Might be worth looking into, if you're in Wild Rose Country.
Open corporate account at nostr:nprofile1qqsza56ed667de7q6mu6uxspetg7gzadqtkeug3plserzcj2nz6vc7qpz4mhxue69uhk2er9dchxummnw3ezumrpdejqzrthwden5te0dehhxtnvdakqzxrhwden5te0wfjkccte9eekummjwsh8xmmrd9skcsd3hux
Or
Don't fool around with shakepay. They probably work with the fed.
I set up my business to buy btc, we use bull bitcoin… super helpful with documentation and recording etc… dm if you need any help or have anymore questions if you want !
DM sent
it's nothing fancy. Just create a wallet that's cold and hold it there. If you record it on the books, which I guess you should, then idk you'd list it under assets, unless you're adding it to equity.
Either way it'll be under assets.
Got to ask yourself, why would you want your business to hold BTC? You're in landscaping?
Yes, I’m a landscaper.
The business has capital just sitting at the bank, I’m thinking maybe it’s way to grow it?
No idea how it all works or if it’s even beneficial for the business ..
No you need to rehab your mowers into miners. Make the blades the fans and put some computer chips next to the pistons.
