Umbrella Company

I have a sole proprietorship company in US. Things might be different in Canada, but your question strikes me as odd.

IN US, there is no such notion as "umbrella" sole proprietorship company or registering your company under someone else's sole proprietorship business.

The "sole" in "sole proprietorship" means "one" i.e. there's only one person owning that business. What sole proprietorship gives you is pretty much a fictional name that you can use when doing business instead of using your real name.

You can't do business under the name of your father's proprietorship - that would mean that all the income goes to his pocket.

I'm not sure what do you mean by "umbrella" company. Usually it's used to describe ownership e.g. Lab126 is a wholly-owned Amazon subsidiary, meaning that it operates as a separate company when it comes to taxes etc. but Amazon owns all the profits etc.

This doesn't apply to sole proprietorship because it can't issue shares of itself. Only businesses like LLC or C Corp or S Corp can be owned in that way. Sole proprietorship is just a name behind a person and you can't own people.

Like others said: you seem to misunderstand basics of taxes, corporate structures etc. You should take a few weeks with a book that explain those issues before asking intricate questions.

And as others also pointed out: this forum is mostly visited by US people. When asking about legal/tax advice, you need to always state that you're in Canada and even then understand that you'll be better off finding a Canadian-centric community for legal/tax issues.

How does the taxing works? I am not selling anything, just making revenue from advertising.

it is irrelevant whether you sell goods, get people donate money for screen space or make money running a business making bets (which actually one my my business operations does). What counts is profit. NET INCOME.

Income - Expenses = Profit. Profit is taxes.

Where the income comes from is irrelevant, as long as it is legal and not part of additional regulations (rarely). Same with expenses, though you may not be able to deduct ALL expenses, depends on tax law details.

Also, will I have to pay taxes? What are some benefits of registering other than preserving brands (I am aware of obvious things like, you gain trust, things like more opportunities such as B2B). Should I even register if I just have to pay taxes? What are somethings that will happen once I register? I have to report everything?

DO NOT START A BUSINESS - being clueless in running a business is the first step in making yourself a fool, which costs money.

Talk to your dad and have him explain you how a business RUNS, what to do etc. Yes, you will have to report eveything. This is part of what businesses do. You will have to pay taxes and fees (like for registration).

You forget one core advantage of registering a business - YOU ARE LEGAL. In most jsrisdictions it is illegal to run a busienss without registering. For example, you can notw write invoices without giving your business tax number which you cn only get - after registering. You can not legally sign a contract as a business without - having registered as one and stuff like that.

I'm sorry, but I can't figure out how what your dad recommended is even possible, let alone advisable.

If each of you has a sole proprietorship, then each of you solely owns his business. I see no way that yours can be "under" his.

Is there something that I am missing?

Disclaimer: This post does not constitute legal advice and does not establish an attorney-client relationship.

What is your motive for placing it under your dad's company? I am not sure it is possible and rather than getting questions to your answers it seems like you should spend more time justifying your approach. I also think as others have hinted that you need a little bit more expecriene and knowledge to move forward. If you are serious, you are asking some pretty basic questions.