You avoid the double taxation of paying corporate tax and individual tax.

In that scenario all of the gain will be subject to tax at that time.

Given the IRS scandal this summer and the actual abuses carried out in the name of political favoritism, this certainly would be a good time to change the way taxation works in our country.

Right now we're running 1 trillion deficit per year, even after the recent taxation (of everyone, by the way).

There should be specific clauses that prevent the wholesaler indebting the Corp. etcA Corp. makes it easy to cash out - with tax at 15% after a year, to bring in new partners or swap places with others.

Your Canadian partner should really sit down with a Canadian accountant who specialises in cross-boarder business before signing on to ensure that he won't be incurring extra taxation.

Everyone wants to make money, but we also want to pick just the low hanging fruit, if we have to climb the tree, it better be worth it, in my neck of the woods, 100k in 6 months, that should translate to 50k in my pocket after double taxation and everything.

The involved capital would be quite high, considered the city, and so the related risks.Closing costs in Italy are around 15% and you need to understand the taxation system.

Yes, doubt you'll be doing much else, you first need to speak to your accountant and elect the taxation for the LLC, fill out the Articles and file that takes minutes on line, get an EIN number after the Articles are filed, with the EIN you can open the bank account with a small contribution, better just to put all funds in there that will be needed, if it's a large sum you could have clearance issues putting money in an hour before closing and asking for certified funds.

Some form of debt forgiveness without the phantom taxation so they can move on with their live and not be forever saddled with a debt they can't ever escape.Or, perhaps some sort of principal and rate reduction for people who can afford the new terms and remain in their houses.