Wealth Support Services has formed entities for people living throughout the world. Many of these clients are citizens of Canada. Because it is a foreign country, US laws do not apply there, nor do their laws apply in this country. Many times actions taken in the United States will lead to negative results in a foreign country. Consequently, the actions taken in the Untied States for a US citizen or legal permanent resident would be totally inappropriate for a client who is a citizen of a foreign country. Canada is such a country where mistakes in the United States can result in horrendous tax consequences in Canada. If the entities are formed incorrectly in the United States, Canadian citizens may find that 80% of their profits will go for taxes! Obviously, this is something to be avoided.
Although Wealth Support Services’s offices are in Las Vegas, Nevada and not in Canada, members of our staff have had many conversations with Canadian attorneys and accountants in order to structure US entities to provide the Canadian citizens with not only asset protection, but also to reduce, as best as possible, the onerous Canadian taxation which results from Canadian citizens owning US income producing real estate.
A telephone call to our office will reassure the Canadian citizens that Wealth Support Services can structure your assets to provide asset protection and reduce taxes as much as possible.
