Yaros can you please tell us more about LLC and USA?

[afaceripedia]

Thanks for taking the time to share all this information. You've helped me a lot.

 

[Direct Webstore]

Thanks for taking the time to share all this information. You've helped me a lot.

Here's a video explaining it all ... But the main thing is, if you have a "business presence" or "Nexus" (Like your LLC is registered there) in a Sales Tax Free state ... you don't pay any sales tax. You only worry about your own country's taxes.

Also the bits where she talks about the "dropshipper" being in a state she's talking about the "original seller" or "supplier". She deals with suppliers in the U.S. In our case the supplier is in China. So they have no "Nexus" in any U.S states. So don't worry about that bit. That's covered in question 6 around the 13 minute mark in the video.

Of course the easiest way to avoid ALL this hassle selling to customers in the U.S is to not live there, not have any business there or any LLC there. I'm lucky I live in Australia and can get a Stripe account here.

 

[mustscience]

Running your business via a US LLC will not help you to save taxes, as long as you are still a resident of Canada. Canada will treat your CFC as a corporation. https://www.bnncpa.com/resources/library/the_unusual_tax_treatment_of_u.s._llcs_in_canada

And even if you could avoid paying CIT (which you can't), you would still have to pay full personal income tax in Canada.

 

[Polly]

I just keep track of my expenses and profits in an Excel workbook. But I'm thinking of downloading a copy of M.Y.O.B or some other accounting software. No greedy accountant is getting my money! lol.

It's not really that complicated. Just keep a record of your expenses (Some are tax deductible) and Gross profits ... then put those figures into your tax return each year.

I also have to keep a separate record of sales to Australians. When the sales get over $75,000 in a year, I have to pay GST. But I doubt my Australian sales will ever get that high. There's only 25 million of us ... But if they ever do go over that, I'll be rich enough to pay the tax anyway.

I live in Australia and don't need to set up an LLC in the U.S.A. The only reason I know so much about it is because I researched it before with plans of hiding my profits from the Australian Tax Department and keeping all my money outside Australia ... but then I decided to be honest instead. lol

Hi, just wondering how you keep track of your sales to Australia? Have you found a way to export any type of report from the plug in? I'm using the original plug and just trying to work out the reporting system which there seem to be none that I can see? Thanks Polly