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Updated 3 days ago, 12/12/2024
Double taxation for foreign nationals ( Canadian investor)
Hello,
I am wondering if anyone knows the answer to this, I am a Canadian citizen with many single family houses that I own in my Florida LLP, I am currently using the structure of paying taxes from the the profits from the LLP flow thru into my personal name, paying taxes in Florida and then having to pay the difference in taxes in Canada ( minus the amount I paid in Florida as a foreign tax credit). I am paying the tax in both places and Canada tax rate is higher. What I am wondering is there a way to structure the ownership of my LLP's to stop having to legally pay taxes in Canada and only in florida . I currently live in Canada, but am moving to Orlando in August.