Cross Border Tax Consultants

Know your income tax obligations as an online seller in Canada? Being a Canadian resident, your worldwide earning is subject to Canadian tax. Whether you run your business as a sole proprietor or a partnership, you’ll have to fill out form T2125 for your Amazon e-commerce business earning from all countries. In the event you run more than one business, you’ve to fill separate T2125 forms for each business type. If you run a corporation, you’ve to file a T2 for your company inside 6 months of the financial year-end. If you’re a Canadian having a US e-commerce store, feel free to get in touch with the income tax professionals at Maroof HS CPA Professional Corporation . We would love to explain all your income tax obligations as an online seller in Canada. Become An Online Seller –Start Selling In The US from Canada: The United States is a massive market of over 300 million customers who welcome overseas products. So, with the right business strategies and professional assistance Cana...

Yes, they can open! Earlier, you required to open an individual Amazon seller account for each Amazon marketplace: one account for amazon.co.uk, another for amazon.com, another for amazon.ca, and so forth. Fortunately, today Amazon gives an NAUA (North America Unified Account) with which you are automatically set up to sell in all three North American marketplaces: the US, Canada, and Mexico. By using the same account, you can manage your listings in all these marketplaces. Fees & taxes when importing to the US: If you are fulfilling your orders yourself, you will have to deal with US imports every time you get an order there. In fact, you will likely still have to deal with US importing laws even if you do FBA (Fulfilled by Amazon), as you have to send your merchandise off to one of Amazon’s US warehouses. In one way or another, you may discover yourself needing to reimburse a range of taxes and fees, which can differ widely depending on what you are importing, where it is goi...

  Corporations and their shareholders are separate legal persons. Earnings of a corporation are not the earnings of Shareholders of a corporation. Shareholders can withdraw money either in the form of salary or dividends. What is the difference between a salary and a dividend? Read this post . Salary results in an income tax deduction which reduces the corporate income tax at the end. Salary is an employment income for the shareholders and the corporation must make source deductions on such a payment. A T4 is issued at the end of the year to the shareholder-employees who record it as an employment income in their personal income tax returns. A dividend is a distribution of the after-tax earnings of a corporation. Unlike salary payment, dividend distribution does not result in an income tax deduction for the corporation and does not reduce the corporate income tax. A corporation must issue a T5 to each shareholder at the end of the year. Shareholders record this as investment inc...