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You do have to file 2 tax returns and suffer double taxation for your Canadian corporation. The benefit of a LLC is that it's pass through and reported on your
by seanmccann 8y ago
You do have to file 2 tax returns and suffer double taxation for your Canadian corporation. The benefit of a LLC is that it's pass through and reported on your personal tax return. It can minimize tax prep and taxes (YMMV).
- ttul 8y agoWell, it’s not really double taxation because you can just flow through the income to yourself, leading to a loss for the company and a profit to you personally. But you are correct about the two tax return thing. That is a slight bummer.