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Canadian tax and cash in


labdog
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A Canadian passport and corporation would work well for those of us with the opportunity. Capital gains tax is only applied to 50% of the gain and at the cap rate of 25%. Translation; For every $1,000,000 gain you will be taxed 25% of $500,000 or $125,000! You will keep $875,000. It's no wonder many US Corporate offices are in Canada.

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You forget for corporation provincial taxes and a tax that was removed but will surely come back. The Capital Taxes that was about 1% yearly.

 

In your calculation you mix up personal capital gains taxes and corporate tax rates.

 

The example you give is for capital personal tax. That is close to 25%.

You also have a credit for your first 750K Capital gain 


Ol harper and his crooked cronies passed a bill , where banks can sieze bank accounts and safety deposit boxes . If they fall on hard times. Good luck

 

The same bill is true for the US. They consider the money in ur bank account as part of the bank capital. If the screw up then ur also screwed

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A Canadian passport and corporation would work well for those of us with the opportunity. Capital gains tax is only applied to 50% of the gain and at the cap rate of 25%. Translation; For every $1,000,000 gain you will be taxed 25% of $500,000 or $125,000! You will keep $875,000. It's no wonder many US Corporate offices are in Canada.

you are close, 35% of 50% out of 100%

that is the last time i filed last year,

davis

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dinar profits will probably be taxed as ordinary income- not capital gain. so the tax rate will be whatever the individal's total taxable income.  irs will make a ruling after the event. irs missed out on a lot of taxes when Kuwait revalued- not going to let it happen again.

retired cpa

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