Hacker News Reader

The USA sucks for incorporation. Here in Canada, I can create a fully fledged federal corporation that is as bulletproof as any for personal liability, for $200.

Annually, I have to pay $20 to file an annual return. Taxes you can do yourself if they are simple - as in a single consultant.

We don’t have LLCs.

View on HN

You do have to file 2 tax returns and suffer double taxation for your Canadian corporation. The benefit of a LLC is that it's pass through and reported on your personal tax return. It can minimize tax prep and taxes (YMMV).

Well, it’s not really double taxation because you can just flow through the income to yourself, leading to a loss for the company and a profit to you personally.

But you are correct about the two tax return thing. That is a slight bummer.

Reply on news.ycombinator.com