jeffblake

So I run a company by myself that has a physical and legal presence in both the US and Canada. (Business Banking, address, merchant processing, etc). The Canadian company is a Corp, the US entity is an LLC (Washington State). I am a US citizen who recently relocated from Canada back to the US.

I have no idea what I'm doing re: tax. My first year I stumbled through filing a net loss in Canada. Now that I'm doing significant money, I'm looking for some high level advice. One of my main questions is how to declare money that I've drawn from the Canadian company for living expenses. Since I can't legally work in Canada, I'm guessing it has to be a dividend. I don't want to get double taxed either.. the money is pretty substantial.

Thank you for any pointers. This is a bootstrapped business, so hiring the kind of accountant I would need to handle international tax seems too prohibitive.