I appreciate the advice you've given through your blog and podcast. Thanks for taking the time to create those things. They've been inspiring.
I'm wonder if a US LLC would be better for me? I'm a mISV in Canada. I use Stripe & PayPal and make almost enough to live on. I have a US bank account but Canadian everything else (sole proprietorship, business license, tax id, citizenship, etc.). I don't plan on ever being funded, selling the business, taking on partners or making more than a 150k/yr.
A Canadian sole proprietorship is about as simple as it gets, since you can file taxes on your T1 and business income just passes through to you. Stripe can also transfer USD straight to a USD account at a Canadian bank.
Any kind of corporation (US or Canadian) is much more effort, both from legal and accounting perspectives. It's worth it if you need legal protections a corporation gives you or care for some of the tax advantages. But it comes at the cost of extra effort in managing the complexities if a corporation.
US LLC has... interesting interactions with Canadian tax law and the US-Canada tax treaty. Even if it is formed in the US, if management and control are in Canada, it may be considered a Canadian corporation. Canadian-controlled private corporation is an advantageous tax status you'd miss out on with a US entity. Bottom line, see a Canadian tax accountant.
I'm wonder if a US LLC would be better for me? I'm a mISV in Canada. I use Stripe & PayPal and make almost enough to live on. I have a US bank account but Canadian everything else (sole proprietorship, business license, tax id, citizenship, etc.). I don't plan on ever being funded, selling the business, taking on partners or making more than a 150k/yr.