Canadian Taxes For Amazon US Sellers- Opening an LLC, Tax Forms To File, EIN, Resellers Cert etc..
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- Опубликовано: 13 сен 2024
- In this video, we had a chance to interview an expert with regard to taxes and operating a business in the US as a Canadian. Most questions are asked by an Amazon seller, but most advice is applicable to Canadian etsy, shopify, ebay & poshmark sellers as well.
If you need help and want to reach out to him, here's the info:
Mohammad Akif, CPA(Texas), CPA, CA(Ontario), MBA, Author
International, Cross-Border and Expatriate Tax
info@akifcpa.com
akifcpa.com/
mohammad.cpa/
Ontario, Canada
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![How Much Should LLC Owners Save for Taxes? [Budgeting 101]](http://i.ytimg.com/vi/pcGBaX26kfE/mqdefault.jpg)
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Thank you SO MUCH for this!! You’re giving back to your Canadian community. This video really really helped me❤
I’m glad you benefit from it 🥰❤️
@@SherylMarcinek this is SOOOOOOOOOOOOOO helpful - thank you SO much for always asking the right questions that we need!!!!! You have a new subscriber
@@clairesongg2948 I’ll be do doing a follow up this year for this. We’ll be doing it around March. Please subscribe to my Instagram account @coachsherylmarcinek I usually post the announcements there. You’ll have to ask questions 😍
This was a fantastic video!!!! Very informative. I am a new Canadian Amazon I'm one of the fortunate ones to question all the initial advice I got and do my own research about this topic! I'm so glad I opened a Can. corporation and so happy to get even more info about EIN and forms! Also I have shared this with my fellow Canadian amazon sellers!
I’m glad this helped you🥰 I am so lucky to be able to interview him because this is actually a solid information that can help a lot of sellers. Join my free Facebook group. It’s in the description of this video. I will be interviewed in that group someone who can help with crossborder banking as well. This will take place in June
OK Sheryl, please correct me what I am saying here now.
1) If you are Canadian selling in US, you dont have to pay tax in either countries as far as you are buying stuff from US and selling in US itself.
2) If you have LLC in US and a sole owner of the incorporation, and you are selling in US market, again you dont need to pay taxes in US too.
Yea i am confused as well, why would there be ECI when I am a canadian operating remotely outside US, has no agent from state and only use 3PL from amazon
This was so helpful. Thank you for the great interview questions and answers! :)
Very informative and to the point information. Thanks for both of you
This is great. Thank you!
Helpful information. Thanks
Thank you. I am staying here
If you are just starting as a canadian seller. Is it recommended to register as a corporation or as an individual? or is individual same as a sole proprietor which you guys said is more complicated?
I'm confused, in my understanding a foreigner owned Delaware LLC with no employees or warehouse in the US isn’t required to pay any taxes in the US. Is that not true?
Yeah thats what i researched as well, he said if everything is done outside of canada, there is still ECI 11:13 , which is no true according yo Jame Baker CPA’s description on US LLC taxation
That was awesome
Thank you! This is very helpful! It cleared up a lot of confusion I had as a new Amazon seller.
For the resale certificate, do I only need to register with one state and collect sales tax from customers across all states?
Hi Sheryl, 11:13 indicated there must be ECI even when everything is operated remotely. I beg to differ. From James Baker, canadian not necessary have ECI if set up correctly, refer to ruclips.net/video/cQl6Z18ClII/видео.htmlsi=G51tHU_zvEQOR_sA 2:22 about ECI
amazing!!!!!
hello if you are just startingas a canadian seller, do you recommended registering as a corporation or as an individual? is individual same as sole proprietor becuase you said that sole proprietor is more complicated?
If you’re starting you may open a sole proprietor IN Canada. It gets complicated if you start opening business account in the US
Great discussion. I appreciate that. Sheryl. To sell in US, does a Canadian Amazon seller need to open a provincial Canadian corporation or a Federal corporation? Thank you.
From what I understand, if you want to move around your business to different provinces, then federal is better. If not then provincial is better. I’m not sure though but ask an expert to be sure
Informative video. I understand that related to taxes is better to have a LLC bc you pay until you bring the money to CA right?? So, from this video what I understood is that LLC works if is a coporate LLC??
That's correct 🥰
Hello thank you! I have canadian corporation and want to sell on Amazon fba in usa. Does having a 3PL/Amazon FBA Prep center in the usa make me have PE? Thank you!
I don’t think so. That’s what I know
So how do I get a resale certificate as a Canadian corp? There's no clear guide anywhere.
We don’t get it if we only have a Canadian Corp. You can still find tons of suppliers who won’t ask you for it and just give the copy of your Canadian business license
Being a Canadian citizen how can I get exemption, if I'm shipping to US warehouse from Alibaba?
Did you get answer for this?
Hello, I have a company in Canada. If I incorporate in the US, will I have to pay US taxes as well on US sales?
I'm not an accountant but I know that once you set up a company there you are required to file taxes there for that company
Mashaallah
First of All thank you so much for this video. I live in CA and no company in Canada , ı have llc company in Us ,ein number and ssn , I buy my product ın Ca and Saling on Amazon USA , ı Transfering my income from Us to Ca . I filled it up the tax documents on april and sended Irs US . But I dont know process about What ı am gonna do in Ca about taxes ??
You should file taxes for those income in Canada, I suggest to contact your accountant for better advise
Hello, I’m same boat. Did you pay double taxes or only in Canada or USA? Please help me