Tax structure for Canadians buying US properties
Hi! I'm a Canadian investor interested in investing in US real estate. I have invested previously using LLCs owned by an LLP. An LLP was necessary to avoid double taxation because LLCs are not recognized in Canada (unfortunate as they are a fantastic structure for Americans). My understanding is that the LLP structure is no longer a viable option. Due to the 2017 US corporate tax cuts, a US corp subsidiary may be an option. I am interested if anyone on the board has already set up a similar structure and can provide some advice. I have a Canadian accountant (CA) and US accountant (CPA) but generally they are not comfortable with cross border tax issues which are complex. Any advice welcome. Thanks.