C Corporation accounting

[Ramir]

What is the name of your state (only U.S. law)? Delaware

Hello. I am a Canadian resident that has a C corporation in the States. I have never resided in the US and I am not a citizen. My corporation buys tax certificates and then gets interest on them. As well, it assigns contracts for a fee. All these offers to purchase real estate.

I spoke with an accountant in Canada who told me ALL income coming into my corporation must be added to my personal income in Canada and will be taxed at 35%. While I know that tax can be minimize if the income is treated differently in my corporation, or re-invested in certain way, he didn't explain the process.

What do I have to do , in the US, with the income to minimize the tax? Are the activities I mentioned taxable the way my accountant stated?

 

[davew128]

I can't speak to the Canadian treatment (although I suspect the info you got was incorrect) but you don't be virtue of being a shareholder of the US corporation pay US tax on corporate income. There are additional filing requirements because you're a Canadian owner of the corporation, but there would be no US tax to you unless you receive a dividend.