S-corp via LLC or C-corp

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greens
Posts: 1
Joined: Sun Nov 22, 2020 12:18 am

S-corp via LLC or C-corp

Post by greens » Sun Nov 22, 2020 12:38 am

I am dual U.S. and Canadian citizen, currently living in U.S. I will likely be moving to Canada sometime in 2021. I am in the process of setting up an online business and trying to set it up in a way that will make the most sense once I have to also start paying Canadian taxes. My understanding is that my best option is to set up an S-corp. I have spoken with a cross-border CPA who advised me to set it up as an LLC and then designate it as S-corp for tax purposes. From what I have read, the other way to get to an S-corp is via C-corp. I know that an LLC is not a good idea as a Canadian resident, so just want to make sure that going the LLC route to get to an S-corp will be effective. Any insight would be greatly appreciated. Thank you!

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