Amazon FBA Tips For Canadians - Taxation, Cross Border Banking, Legal Entities - 

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FINALLY I’ve had these exact questions for months with no luck of finding any answers. Thank you Griffin for dedicating a video about issues that seemingly no one else talks about Cheers man

Thanks man👍🏼 after 4 years still very valuable video. Thanks for doing this

Honest to god brother, this video was amazing and one of the most informational videos i’ve watched on this topic so far. The example was by far the easiest for me to understand i loved this

Cheers from Québec too! Thanks for the info, you saved me the trouble of actually opening the wrong USD account :)

Thanks for making this video! Hadn't found anything explaining the business set-up side of Amazon FBA up till this point. Very helpful!

It was really helpful as a Canadian. Thanks a ton buddy !

Griffin deserves 10M subs, only channel where I watch the ads

Awesome video Griffen, always incorporate a business, this will protect you from a lawsuit and bankruptcy if that shall happen, but also has better taxation laws.

This video was amazing - the most informative I've seen in a while.

For a US bank account use Transferwise. I'm in Canada and was able to get approved very quickly by telling them I was an amazon seller. The fees are also a lot lower than traditional banks.

It took me a month to learn all of this on my own even though I have bought an expensive course that's supposed to clarify all this perfectly but its very general. I wish I came across this earlier, but at least you have confirmed everything I have learned so far. Thank you!

Best video for Canadian seller. Thank you so much bro

Great info for us Canadians! Thanks for this Griffin.

Thank you for your sharing. I also thought I could get the US Dollars to my US checking account in Canada. After watching your video, I prepare to open a cross-border bank account in the US. Thank you very much!

Thanks for providing this info for the Canadian viewers! Much success to you.

wow this is sooooo amazing for people. what a break down and much easier for people to understand. you are amazing for sharing buddy

Thanks, Griffin. I've been blundering around in the dark with my own bank officials for three months. My own bank officials do not seem to know what their employer can, (and CAN'T) do.

Super informative video as it described my situation, for I myself in Montreal, Canada & intend to start Amazon FBA Wholesale.

Thanks you for clarity with the bank account stuff and getting set up as a corporation . I'm in Canada and already have an incorporated manufacturing company but never did the BMO Harris thing .

Super valuable. Couldn’t find this anywhere. Thank you!

You were straight to the point and answered most of my questions I had in mind. keep going!!

Great vid man... pretty explained my identical situation regarding TD and corporations!

Who would have known that only BMO Harris offers the corporate account. Thanks for the info Griffin

FANTASTIC Video Griffin. Answered so many questions. You're right, very hard to find this info. Thank you!

MUCH appreciated! This is exactly what I have been wondering for months... Thank-you so much! :)

Finally someone explained it! Very informative! Thank you!!

Thank you for going into the details! Great video.

Man you answered alll question. Hats off to you

I appreciate the examples with numbers....helps a lot.

Thank you so much for this video! Would love to see more videos about taxes in Canada

Very interesting info. Thank you. It is really very help. I am happy I found your youtube videos. You are answering all my questions.

Thank you for the great information, straight to the point!

Interesting video! Thanks for bringing great information!

Thanks for this video bud. I own a Canadian Corporation so I don't want to lose a bunch in currency exchange.

Canadian living in Quebec, i am too, im subcribed, learned a lot. Liked!!

Extemely helpful, thanks Griffin!

This video was really informative. Cleared lots of my doubts. Thanks

Thank you soo much for this valuable information!! :)

Thank you Griffin, it was so helpful video. So useful and clear to understand. Thank you so much 😊

Excellent video!!!! Great info, well explained. I thank you for and give you thumbs up !!

Thank you Griffin! That’s what I was looking for!

Griffin. Thank you so much! This has saved me so much of agony

Thank you so much. Please can you make us a video about how to incorporate the business, I really have no clue about it. Thank you so much

That was tight. Much thanks dude!

Thanks man, great informative content 👍🏼

Hi! (also from Quebec), very nice video! I do FBA and FBM and both in US and Canada. My business is increasing so I have to register. Canadian part of taxation, its pretty clear to me. US part, not at all. - Do I have to collect and repay taxes to the US? Amazon use the Marketplace Facilitator Tax but not for all states. Do I have to collect anything and give back to the IRS? What are my obligation with the US? Thanks in advance.

Maybe using an llc is better. Less expensive, and it easier to eventually selling the business in usa

Hi Griffin, very interesting video! I do have a couple questions for you: 1. Do you sell exclusively on the .com marketplace or do you sell on .ca too? 2. Why do you recommend incorporating in Canada instead of opening an LLC in the US? I am registered as a Sole Prop. in Canada right now but I'm in the process of registering a single-member LLC in the US. It's a lot easier and less expensive than incorporating in Canada. I thought you needed an EIN to import into the US, plus most freight forwarders don't work with Sole Props. Since I'm a resident of Canada, I would be paying income tax in Canada not the US right? Instead of opening a bank account, I'm using TransferWise for supplier payments and my USD account. Do you have any experience with TransferWise? Thanks for making these great videos! Super helpful to learn from an experienced FBA seller!

Thanks for this, very helpful!

awesome info. props up!

Thank you! This is really helpful

Thanks a lot. It was very helpful for me. I've never seen or heard anything about it. By the way, I am from Montreal

Hi Griffin,Eric here i have a couple of questions for you that i think you will be able to answer me straight away. To star off with i will say this I am a Canadian resident, more specifically a Quebec resident from Drummondville moving to Sherbrooke in july. I am going to start a product on demand business with a supplier in the u.s. Now i will create a Shopify store for this and collect any sale in USD currency. Since i do not know if my business will be successful or not should I: 1.Become a sole proprietor, and if and when i do more than 30k/year move to become a corporate business? 2.Do i apply in my province of Quebec or federal? 3.Should i open a personal USA based checking account or go for it right away and open a business USA based checking account? or should I wait to see if i reach more than 30k / year first? 4.I might also sell on merch by Amazon in the future aswell so should i apply for an EIN? 5.On my website do i collect taxes for any sales. 6.Which bank would you personally refer me to if it was you? 7. probably a dumb question but if i were in the future to start another website for another type of business would i need to repeat that process for that business aswell. like incorporate and have another business account for that business not to mismatch the 2 business for accounting purposes? I know you are not a accountant but you are probably the closest thing to what i am currently trying to accomplish having gone through it yourself and been a fellow canadian/quebecois Thank you for taking the time to answer those questions. have a wonderful day!

Hey Griffin :) hello from Montreal, I join to also say thank you for a fantastic video that answers pretty much all the crucial questions. I've got two more if you don't mind: 1. did you go for a federal or Quebec incorporation? 2. Do I need to get to a BMO branch to set up the crossborder business account or is it done over the phone. Cheers.

Im in canada.. so what if i just wanna try the fba first..like i am planning to buy 50 products and resell on amazon and see if it will go well? Should i get fba membership? Or individual for now? I dont have big money to start .. Should i get lisence or not yet?

Thanks you very much from T.O

Great video...very informative. Quick question. If you're incorporated, do you need an EIN? If you're sole proprietor, do you need an EIN?

Amazing info. it's rear. not available anywhere Thanks alot Griffin

hi , thanks in usa sole perpriotorship has schedule c 1040 form for your tax profit and 15% rate tax on profit....

Thanks for the great info as you are right many people don't talk about this subject. Just wondering why you were recommending setting up a cross border US account in your Personal name as opposed to the LLC?

Hey Griffin thanks so much for this video it has been a huge help! One hurdle i have come across when setting up my BMO harris account is that they only provide a debit - master card. Essentially a debit card with the master card logo on it. So if for example as an amazon seller I need to buy $2000 worth of inventory, I need to make sure that the account has $2000 to begin with. This completely changes things as amazon already has major cash flow issues. What I have been doing up until now is getting my amazon expenses charged on a canadian credit card, and just paying off the card. The major benefit to this method is that I do not have to have the money already available and there in the account to begin with. What are your thoughts on this and how did you work around this issue?

Thanks for the video and tips. What did you use for your LLC? I am currently looking for the best place to use that is both cost effective and reputable.

Thaaank you so much! You helped alot! I have some concerns that hope you help me. 1. I'm wondering if I want to open a cross-border bank account at BMO, is it important how much money I put in that personal account? Should I get credit card or sth like this for Amazon registration?! Are they going to give me debit or credit card? ( I'm confused!) 2. As I know, when we want to register as a business in Amazon, they ask for an account. If I open cross-border account would it be enough to link it to the Amazon? 3. Do I need to make profit from business to fill out/ report the tax (as a sole proprietor? 4. Then if I have cross-border account, all the transaction with supplier in the other country would be in US dollars, Am I right? We are not going to pay supplier Canadian dollars!? 5. How can a supplier discover if I'm a sole proprietor or a corporation? Is it something that we have to tell them?

Hello, such a great video. Can you please do a video on how you file your taxes and what expenses you claim as Canadain tax resident Amazon seller? You mentioned you are in Quebec, did you registre with Registre des entreprise du quebec as you start selling on Amazon?

Hi Griffin, Could you please create a video on how to file corporate income tax for amazon.com sellers? Just started on one product and would like to file it myself. thank you

Awesome video Griffin! Will it be easier, if I directly open a corporation cross-board account?

The cross border bank account you mentioned in the us, is a personal or a corporate bank account. There was some confusions.

i see the Habs building lol. Also from south shore MTL

Hey Griffin, Using your video as a guide I'm getting everything together to do Amazon FBA selling and had a question about checking the quality of the Product: * Do you have the Product sent to Canada (check for quality control) and then on to a US Amazon Fulfillment centre?

Thank you so much

But they don’t let you get Amazon Account until you get signed up business Numbers in Ontario

thank you really helpful

thank you for all the info its very usefull!! i habe aquestion though: Can you open your FBA as a sole proprietor and later on when youll start to make money change it to incorporation staying on the same FBA account?

Hey Griffin, this is Alan, I greatly appreciated for all the great contents. Could you please mention that form name here please with correct spelling, I couldn’t catch it

Awesome. But how to get a seller permit in USA when u r a canadian corporation? So that u can buy from american wholesalers without paying sales tax for amazon fba.

Thanks for this video Griffin. We are getting started with Amazon and this cleared some questions up since I live in Canada. Are you familiar with setting up your sales tax and nexus for all the states for your sales for selling on Amazon USA as a Canadian. Thanks in advance for any advice you have here!

Thanks for the great video Griffin. Do you have any tips on sending inventory over to US FBA from Canada? Do you import your products into Canada and then export them back to the US or you have your supplier ship directly to the US? And how would you take advantage of Amazon partnered Carrier in the US with no physical US address?

Awesome video! thanks for this info, any additional information about getting a US business Credit card?

Hi Griffin, very informative video! I have a couple questions: 1. Is your fba income entirely exempt from IRS once you get your EIN and submit your W8BEN form or there is a certain threshold where above it you will still need to pay tax to IRS? I read from somewhere saying that "You get the full exemption for the first $10,000 (or $3,700, I found both these numbers on the Internet) you earn. After that, you must pay the IRS 5 or 10% of your profit" 2. Is it certain that we are to submit W8BEN but not W-8ECI ? I'm quite confused which one we need.

Hi Griffin, great video, congrats! I already have an Amazon USA store, those tips works if I want to sell on Amaxon Canadá?

I have a amazon account from Canada. I sell more on amazon fba US than in Canada. I did 50k in the US alone. I never received a 1099k... Why?

Hey Griffin, excellent video! I was just wondering what the difference was between a W-8BEN E/W-8BEN and an EIN? Thanks!

Amazing video thank you. The only thing I am not clear about is how to ship products from my supplier overseas directly to my 3PL located in usa as a Canadian corporation. Do I need to work with a US customs broker, do I need an EIN? Not clear on the what permits I need to do that... Don't want to ship to Canada and then ship back into USA, that seems inefficient. Thank you!

Thanks a lot!!

I came here looking for sales tax information... Does amazon collect US sales tax on all their orders? With the new nexus laws in place this is important to know this. If they do collect US sales tax on your amazon orders, does this mean you don't have to remit the US sales tax since amazon does it for you through their platform?

Great Video, thanks! How do you manage wire transfer payments from a cross-border account when your paying suppliers? Have you found this creates issues?

Good video

So you qualify for GST/HST if you do Amazon FBA? I thought you could only qualify for the credits if you collected the GST/HST on sales but I understand Amazon is the one that collects it…. Sorry I’m new to this and trying to figure it all out. Appreciate the video

This is helpful. Thank you! Considering I go with a Canadian proprietorship firm, would I still have to register a trade name in the US?

Hi, I have been watching videos for a while, but I am a bit confused about where to start with?...... I have a question: Q) what is the first step..should I start with getting a subscription of jungle scout and search for a valuable product OR start with incorporating my company and seller central account and US-based business bank account first and then search for the product? PLEASE HELP ME, WHERE TO START WITH. Thank you for your valuable videos and information.

Hi Griffin, Quick question for you. I heard that even if you are selling as a sole-proprietorship, you are not allowed to use personal US based bank account because they can see all the transactions (Amazon, Alibaba, etc...) are not "personal" use. I am not sure personal US bank accounts can be used for Amazon business or not. Please leave me a comment about this. Thank you!!!

Hi Griffin, Thank you for your video! I still have one question tho, if you have a corporate account with BMO Harries but wants to get paid in your canadian personal account, what is the best way to do it? Or could you share how you do it?

Hello from Ontario ! Great video ! I'm just starting out ..... starting small selling on Amazon.com . (I'm worried about taxes from the CRA) Should I incorporated a certain percentage like 7% to the total price of my selling item on amazon?

Hey, Griffin @10:53 I recently spoke to someone at td and they told me, you can actually do a corporate account? Also @11:15 you said for your Canadian corporation but I have a corporation in Utah, does that matter ? Thank-you if you can answer my questions

Hey quick question. I used personal borderless plan with TD and it got bounced once. I am attempting to try it again but according to this video, since it is a cross banking account, it shouldn't be a problem right?

Hi Griffin, I'm opening a USD based BMO Harris business account right now. The salesperson told me that we cannot apply for a credit card in the US, though. However, he did tell me that in the US, a debit card can also be used as a credit card, as long as the full amount is in the bank account prior to the transaction. However, I am skeptical about that as I did not mention I want to pay suppliers this way. Is that how this works? TIA

I am also from Canada. and living here. I opened an ebay account from the USA about 3 years ago. This year ebay sent me a 1099-K . What do I do with that? Go fill it out in USA or fill it out here in Canada? Some say just ignore it cause my body is in Canada?... Just wanted more info on that.

Have you ever transferred your inventory from your business in Canada to fba USA?

Excellent video Griffin! I live in canada, what are your thoughts on opening an account in the USA ? would that be a good idea?