User talk:Mikelim

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1 Welcome
2 Canadian-US
3 LLC
4 Type of Entity
5 Flagging Discussions

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Welcome

Hello, and welcome to TaxAlmanac! My name is Tim Doyle and I serve here in the role of TaxAlmanac Moderator. If you haven't done so already, you might want to review our Quick Start Guide to help you get oriented.

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- Tim Doyle, TaxAlmanac Moderator 20:12, 9 February 2006 (CST)

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Canadian-US

Thank you Mike for getting in touch with me. I would be most happy to help you with your issues regarding international taxation as it pertains to your client. I am out of the country at the present but will try and get a connection this evening and try to write you an email.

Let me know what it is specifically you are needing assistance with. It may be as simple as a one line answer and of course, I don't intend on charging for anything like that. If it becomes time consuming to research and help develop a plan for your client, then I am sure we can agree on something fair.

Thank you again.

I will be returning to the US either the 23rd or the 30th. I am not quite sure at the moment as work is taking longer than expected. I am in Nassau at the present with my Canadian client, and things run slow in the islands to say the least :)

Sandy

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LLC

Hi Mike;

Tough to get from this spot, so I will make this quick. Your client will need to file a US income tax return from the K-1 of the LLC; but without a TIN or a SS#, this can't be done either.

My suggestion would be for her to continue to take payments into her Canadian corporation and then file a corporate return in the US doing business as a foreign entity. This may help prevent any taxation from the state level, but it seems that she has created nexus in the States and will be forced to file state returns. Since this is only going to be one year, I would forego setting up a new entity and just use her foreign corporation as they have been doing. Canadas taxation rates are much higher than the US, so this could save her alot of money in taxes with treaty benefits applied.

Easiest way to reach me is my email; easier to answer than here right now. The connection bites here :)

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