Recommendations for US-Canada Taxes?

April 28, 2024

by a searcher from McGill University in Montreal, QC, Canada

Hi All,
I'm looking for a recomendation for a knowledgeable tax expert who can advice me as a Canadian resident with an interest in a US LLC.

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Reply by a professional
from Harvard University in Lynbrook, NY 11563, USA

Try Jonah Spiegelman for a tax lawyer familiar with the Canadian side and not crazy expensive. (For reviewing your return, I'd be very skeptical that H&R Block will do a proper job on a complex return...)

https://www.boughtonlaw.com/people/jonah-spiegelman/

Reply by a searcher
from Carleton University in Calgary, AB, Canada

The key question is what is the structure of the US LLC for tax purposes? If it is a C-Corp, you're OK. If it's an S-Corp, you have a big problem, including a busted S-Corp election. If it's a partnership, you have a big problem given that you will be taxed in the US but will not be able to deduct those taxes in Canada (double-taxation, overall tax rate of ~70%).

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