Wholesaler · usa · Member since 2021 · 221 posts · 67 votes
Hello, I need some help, please; I live in Canada and am virtually wholesaling in Houston, Texas. Based on my research for a business like wholesaling, an LLC would be best; it has been brought to my attention that if I were to register an LLC, I would be paying double tax to IRS and CRA. Does anyone know the best approach to set up my business for maximum protection and minimal taxes, please?
Investor · Amarillo, TX · Member since 2022 · 37 posts · 21 votes
3y
How are you paying double taxes to the IRS and CRA when you will be making the money in the US if you are wholesaling in the US. From my understanding Canada doesn't tax the money it's citizens make outside of it's borders. Where in the CRA does it mention that it taxes citizens on the money they make outside of Canada? Read EY Worldwide Corporate Tax Guide here for Canada on page 277.