5 {{ upvoteCount | shortNum }}
5 {{ upvoteCount | shortNum }}

Should I incorporate?

by IMStrategus
4 replies
  • ECOMMERCE
    • |
Hey guys. For those who are familiar with the online commerce. Should I get an LLC in USA if I'm located in Canada but my ecommerce business is for USA only?
#incorporate
  • Profile picture of the author malcsimm
    LLCs have advantages over companies. I am in the UK and run my biz with 3 x LLPs, the UK equivalent.

    But you need to talk to a tax advisor who knows Canada and USA tax biz.

    Even in the UK,.after 15 years of existance LLP law is changing in mid 2014 so I need to have someone at hand who can advise me on my strucure in light of these changes.

    So find an expert!

    If you are lucky you might find a deal; my tax accountant (different from my "compliance" accountant - the end of year guy) want his website sorted out, so we do a swap!

    Cheers

    Malc
    Signature

    You WILL banish # Procrastination, # Email bloat, # Wasting time, # Wasting money
    Getting Things Done PLUS Evernote turned my life around - read here how I do it
    {{ DiscussionBoard.errors[8880445].message }}
  • Profile picture of the author Daniel J
    I would also recommend consulting with an expert to determine the advantages/disadvantages in Canada (I'm in the U.S.) However, I can tell you that forming an LLC was a very beneficial decision for my business. It saves a lot on taxes (the more you make the more beneficial this will be) and it gives you some protection that you won't have otherwise. Hope this helps a bit.
    {{ DiscussionBoard.errors[8881425].message }}
    • Profile picture of the author malcsimm
      Originally Posted by Daniel J View Post

      I would also recommend consulting with an expert to determine the advantages/disadvantages in Canada (I'm in the U.S.) However, I can tell you that forming an LLC was a very beneficial decision for my business. It saves a lot on taxes (the more you make the more beneficial this will be) and it gives you some protection that you won't have otherwise. Hope this helps a bit.
      Agreed - UK LLP has saved me a lot of tax.



      Malc
      Signature

      You WILL banish # Procrastination, # Email bloat, # Wasting time, # Wasting money
      Getting Things Done PLUS Evernote turned my life around - read here how I do it
      {{ DiscussionBoard.errors[8884941].message }}
  • Profile picture of the author SamOne
    Consult with an expert man, but here's what I know because I consulted an expert... Long story short, if you are a Canadian and you have a US LLC, you will pay more tax than if you had a US C Corp.. just by the way the Canadian tax system treats an LLC.. this is what I was told but always seek the advice of a qualified accountant.
    {{ DiscussionBoard.errors[8977099].message }}

Trending Topics