Tax Loophole for Canadians Day Traders

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Tax loophole for day Canadian Day traders
0:00: See this
1:49: Brokerage account in Canada
2:13: Expatriate from Canada
3:32: Tax loophole with an US LLC
6:16: Resume options

How many videos of James have you watched today?
Do you want to skip the line and get the answers to your questions right away?
Do you want to learn exactly how you can have a Tax Free US Company and bank account without traveling to the US?
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You can schedule a FREE discovery call with our team with the link below.

Or get your questions answered right away on a call with James. Schedule with the link below to receive clarity on your tax situation and stop spinning wheels.

Would you like to learn our 3 step strategy for owning and operating a US Company? Do you want to grow your business and pay no taxes without spending hours and hours learning how everything works on youtube?
You can schedule a FREE discovery call with our team with the link below.

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Check out James’ top recommended videos here - these are cornerstone videos that should answer many of your questions.

-----Longer videos that explain it all!

-----Guides and How tos

-----And don’t forget to check out all of the “CALLS WITH JIM”

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Do you want to learn how to open and operate a Tax Free Company in the USA even if you live outside the US and don’t have a visa.

Already have an LLC? Did you already complete form 5472 for your company? Did you know there is a $25,000 penalty for not doing this form? I’ve made a short training that explains exactly what you need to do and why so you can get this done quickly and correctly, the first time around.

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Looking for help with your SALES TAXES? Check out a couple of our videos on the topic -

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Lawyer Disclaimer (Occupational Hazard): This is not legal advice. Everything here is for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney for advice regarding any particular issue or problem.

[iqwebserve]

TY for this James. I live in Toronto and found this so helpful.

[chineduogbonna]

I invest using contracts for difference (CFD), through Oanda brokerage. CFD’s are leveraged products 1:50. The broker loans money to trader and charges daily interests ONLY if positions are held overnight . These charges are called holding costs or overnight financing charges.

Do you know if these charges are tax deductible expenses?

[losttale]

Good job mentionining exit tax. Since it's treated as a corporation I expect there to be a deemed disposition when leaving Canada. So better to just leave Canada first atleast tax wise. Someone either the taxpayer or their heir will eventually have to pay. Tax free compounding is good of course.

[KillianGuerin-iw]

I think investors should always put their cash to work, especially In 2025, we'll start to see more market diversification. Considering the performance of bitcoin lately it is safe to say the crypto market is the best smart investment out there. Hoping I’m not the only one with this thought

[xkrimzonxrsps]

What if you only trade once a week or once a month selling options

[ntlineman]

As a Canadian would I have to pay taxes on U.S. LLC if I cash in when I’m in the U.S. ?

[freeflysi]

James, Can you use this stratagy if you are trading crypto?

[moosa]

What if i am a dual citizen living in Canada?

[kamalsaini]

how much you charge to setup my us llc. i am from canada and i want to go for option 3.

[Canadianforestfairy]

Couldnt you just open a US bank account like Tangerine and work w a US brokerage?

[everybitofknowledge]

What if I do it as a side hustle and make 5-10 k in one year should I have to pay tax ?

[LuckyCat_Trades]

Hi James, I'm an American prop trader, 1099 contractor. Do you provide tax services for people like me? I am looking for a CPA. Thank You

[kaveen_r]

I DO A DAYTRADING AND I RESEARCHED ABOUT TAXES BUT IM CONFUSED BECAUSE I TRADE THROUGH THE PROP FIRMS( AS A CONTRACTOR) SO WHAT IS THE SITUATION FOR ME REGARDING TAXES. i trade as a contractor by futures company . can you please suggest me

[exrayZap-rygh]

"That might apply" so up to everyone to figure that out....

[MichaelRosmer]

No this doesn't work.

Corporate residency rules, & either source income or FAPI rules prevent this

[peterschmidhuber]

Why not open a Bahamas company and keep the money there and avoid North America all together?