Canadian Investing In Tax Liens
i am canadian i heard i need to set up a corporation and get a federal tax id number is this true and what is the best way to get started in tax lien investing thank you mark miller **Please See My Profile**
You can buy liens in your own name.
Check with the county you want to buy from what they want. Explain your situation.
Foreign nationals are not required by the IRS to have a tax ID. In cases where they do not have one the estimated tax is withheld at source.
You can get a tax ID and then not have the withheld at source estimated tax hit.
John
[addsig]
You may not need a tax number but I would still recommend you consider incorporation. If you are concerned with heirs etc. you will find that they have a much cheaper & easier time transferring shares in a company than numerous liens in various municipalities and/or states. Good Luck
All you need to register with the county in order to buy TLs is a social security number or a tax ID number. You can get either easily by applying via website.
Francoise
I am from Toronto, Canada, where would i get the TAX ID number or social sercurity # by website? Also, can I purchase these liens the internet, mail etc? which counties allow this? which do not?
Thanks
Little Bishop
I know in the state of florida non-residents can establish a corporation. With the corporation you can get a federal tax id and use that.
Although probably the best thing would be to register a company in Canada and then have that company become a foreign limited liability company (LLC or LTD)