New Federal Requirement: Starting January 1, 2024, most business entities in the US will need to report Beneficial Ownership Information.
Hello,
I read the advice to the Canadian doing business in the U.S. You suggested incorporation in the U.S. and have zero profits. All income would be Canadian.
Please tell me, is this easily managed by an ordinary business owner? Or, are there difficulties that are best managed by a professional firm?
I own a Canadian company for my [small] online retail sales.
Dear Jan,
It is generally a good idea to have a professional CPA firm help you with your bookkeeping, tax returns and tax planning. Try to find one that specialize in international taxation to see if there are additional strategies to minimize your tax liability both in the US and Canada.
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(b) Your card balance is too low;
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