How Canadian Ecommerce Brands Save Thousands With a USLLC

<p>M. Sal had his own Ecommerce store. He realized that no Canadian accountant understands US tax and virtually no one understands a Shopify business. That’s what led him to start SAL Accounting where their team now solve these problems for brands.</p><p></p><p><b>In This Conversation We Discuss: </b></p><ul><li>00:00 Introduction</li><li>01:13 Discussing the accounting brand</li><li>01:34 How the guest entered the ecommerce tax niche</li><li>03:09 The hidden Shopify fee for international sellers</li><li>04:13 Do you need a US LLC: Plus plan vs sales split</li><li>06:36 Revenue threshold for opening a US LLC</li><li>08:00 Step-by-step process to set up a US LLC</li><li>10:22 The costly mistake of naming yourself as owner</li><li>12:30 Do US brands need a Canadian setup too</li><li>13:56 The $25,000 penalty for missing Form 5472</li><li>15:38 Why proper bookkeeping matters for ecommerce brands</li><li>17:57 How monthly books help you save on taxes</li><li>19:33 The risk of hiring a cheap bookkeeper</li><li>22:00 Where to learn more and get help</li><li>23:43 Returning Questions to a Fellow Host<br /></li></ul><p><b>Resources:</b></p><ul><li><a rel="noopener noreferrer nofollow" href="https://www.youtube.com/c/HonestEcommerce?sub_confirmation=1" target="_blank">Subscribe</a> to Honest Ecommerce on Youtube</li><li>CPA Tax Accounting and Bookkeeping Firm <a rel="noopener noreferrer nofollow" href="http://salaccounting.ca/" target="_blank">salaccounting.ca/</a> </li><li>Follow M. Salman <a rel="noopener noreferrer nofollow" href="http://salaccounting.ca/author/salmansalat00/" target="_blank">salaccounting.ca/author/salmansalat00/</a> </li></ul><p></p><p><b>If you’re enjoying the show, we’d love it if you </b><a rel="noopener noreferrer nofollow" href="https://getpodcast.reviews/id/1447700156" target="_blank"><b>left Honest Ecommerce a review on Apple Podcasts</b></a><b>. It makes a huge impact on the success of the podcast, and we love reading every one of your reviews!</b></p><p></p>