And CA is a funky critter when it comes to taxation and regulation. 

@Michele ZugschwerdtIf you are looking to get involved in real estate, you want a CPA who specializes in real estate taxation.Taxation when you have spouses living in two different states does make state taxation more complicated.

@Francesca TindalNew Yorkers who have an investment property outside of the state are required to file a non-resident state tax return where the property is located.Since you mention possible errors on the return, you may want to look at getting the return amended before working on the 2019 return.There are a couple CPA's who specialize in real estate taxation on this messageboard

To be sure you properly file and receive these credits, make sure you are working with a CPA that understands multi-state taxation.

LLCs also provide flexibility in management and offer the  benefit of pass-through taxation which means that the profits and losses of the  business pass through to its owners, who report them on their personal tax  returns.

My question is more of how taxation and foreign exchange will impact investors.

While Paul provides you links to some good information in his standard form welcome message, keep in-mind that areas of finance, regulation and taxation are somewhat different in Canada ... and different again in PQ from RoC.There is a small active cadre of Canadians here on BP, so when you do have a question specific to home, feel free to give a shout.

I would like to incorporate before getting into dealing so i can officially do business as the company (marketing, selling, dealing) so the question i have is what state is good to incorporate (i am thinking of an LLC) from the viewpoints of taxation, privacy/anonymity, asset protection, annual fees?

The income I earn from flipping homes can't simply be passed through and then subject only to my income tax.  At

@Ned Carey I am still learning all the fun and exciting aspects of taxation in real estate.