Corporate structure suggestions required

[marct]

I'm a Canadian tax resident, and don't intend to leave the country for longer than 183 days per year. I own a corporation in Canada (Ontario), which is currently unused but registered as a numbered company. I own a few LLCs in the US and a C-Corp, LLCs are in Wyoming, New Mexico, Delaware. I do not have an ITIN, I'm someone who never visits the US and doesn't intend to. All banking is done via Wise and Mercury.

I'm looking to minimize my taxation. This year I should be in a position to take out ~$500K. I want to bring this back into Canada, and hold the majority of it in my Corporation to invest in the market and other companies. I'd like to take only a small portion of it out to myself.

What is the best way to do this while incurring minimal taxation? Is there a way to defer taxation entirely on the personal level?

 

[daniels27]

If you manage a company from Canada, it is liable to taxation in Canada. You can either relocate or hire a director in another jurisdiction to manage the company.

 

[marct]

daniels27 said:
If you manage a company from Canada, it is liable to taxation in Canada. You can either relocate or hire a director in another jurisdiction to manage the company.
Click to expand...

I don't believe you read my question. My question was about limiting personal taxation.

 

[yngmind]

marct said:
I'm a Canadian tax resident, and don't intend to leave the country for longer than 183 days per year. I own a corporation in Canada (Ontario), which is currently unused but registered as a numbered company. I own a few LLCs in the US and a C-Corp, LLCs are in Wyoming, New Mexico, Delaware. I do not have an ITIN, I'm someone who never visits the US and doesn't intend to. All banking is done via Wise and Mercury.

I'm looking to minimize my taxation. This year I should be in a position to take out ~$500K. I want to bring this back into Canada, and hold the majority of it in my Corporation to invest in the market and other companies. I'd like to take only a small portion of it out to myself.

What is the best way to do this while incurring minimal taxation? Is there a way to defer taxation entirely on the personal level?
Click to expand...

You better talk about that with your accountant. Your only way is business expenses: buy the needed stuff using a company account and deduct it as expenses.

Toggle signature
I'm not a tax advisor, so please don't consider my posts here as tax advice. Always seek a professional opinion.
___
Business Bank Account for your US LLC Remotely