Already missed the Canadian boom. Plus, you ever file taxes with income sources outside the US? Pass.
V
The COVID19 SCAMdemic... Economy So Strong That eBay Hard Up For Business
- Thread starter zrickety
- Start date
Strange Mud
Autocross Champion
- Location
- Small Town CT
- Car(s)
- Assorted
I saw a handmade Trump 2024 sign already. I will admit that I saw a Yang 2024 one first. Also handmade (just slapped a 4 on the end) guess what it was on?
StorableComa
Autocross Champion
- Location
- SoCal, USA
- Car(s)
- 17 GSW S FWD
You'd have to pay taxes on your US investments either way. Plus you'd be paying taxes to Canada first and then get a credit for that on your US taxes:
"In the U.S., your quarterly dividend income is taxable on your U.S. tax return. Your Canadian tax already paid is eligible as a foreign tax credit on filing to help avoid double taxation."
https://www.moneysense.ca/save/taxes/owning-canadian-stocks-as-a-u-s-resident/
While you missed the boom, there is still growth potential there as they expand into the US as more states allow Medicinal and recreational.
Honestly you've probably already missed the Green wave in the US, unless you wait for a state that hasn't legalized to do so and jump in on a local investment. Colorado and CA already have there networks setup, the biggest issue is handling money. Though we're seeing more Credit unions allow Weed money with stricter rules, which is better than no federal money institution would touch you because Pot.
If you want to go that route, you could invest in POT in a round a bout way by investing in the credit unions that are doing business with the Pot companies and handling their finances.
"In the U.S., your quarterly dividend income is taxable on your U.S. tax return. Your Canadian tax already paid is eligible as a foreign tax credit on filing to help avoid double taxation."
https://www.moneysense.ca/save/taxes/owning-canadian-stocks-as-a-u-s-resident/
While you missed the boom, there is still growth potential there as they expand into the US as more states allow Medicinal and recreational.
Honestly you've probably already missed the Green wave in the US, unless you wait for a state that hasn't legalized to do so and jump in on a local investment. Colorado and CA already have there networks setup, the biggest issue is handling money. Though we're seeing more Credit unions allow Weed money with stricter rules, which is better than no federal money institution would touch you because Pot.
If you want to go that route, you could invest in POT in a round a bout way by investing in the credit unions that are doing business with the Pot companies and handling their finances.
StorableComa
Autocross Champion
- Location
- SoCal, USA
- Car(s)
- 17 GSW S FWD
Could also go with those that are traded on both exchanges, there are a few Canadian pot comanies on the NASDAQ.
From above link:
"Of note is that U.S. investors can buy about 171 Canadian stocks that are currently inter-listed on the New York Stock Exchange (NYSE), the NASDAQ or the NYSE American (AMEX). In case you want to more easily invest in Canada while you’re in the U.S., AJ, here is the complete list. And if you’re looking for U.S. listed exchange-traded funds (ETFs) that invest in Canada, the list is very short, but here it is."
The original Canadian Pot company link also shares which ones are traded in the US as well.
From above link:
"Of note is that U.S. investors can buy about 171 Canadian stocks that are currently inter-listed on the New York Stock Exchange (NYSE), the NASDAQ or the NYSE American (AMEX). In case you want to more easily invest in Canada while you’re in the U.S., AJ, here is the complete list. And if you’re looking for U.S. listed exchange-traded funds (ETFs) that invest in Canada, the list is very short, but here it is."
The original Canadian Pot company link also shares which ones are traded in the US as well.
cb1111
Newbie
- Location
- Virginia, USA
Strange Mud
Autocross Champion
- Location
- Small Town CT
- Car(s)
- Assorted
that's what I was thinking. Yeah use of it can bite you in the ass. For many it doesn't matter but it certainly can and the political climate can flip.
jay745
What Would Glenn Danzig Do
- Location
- Slightly Outside Chicago
- Car(s)
- Mk6 racecar, Tacoma
Cb missed the 420 joke. Not surprised
cb1111
Newbie
- Location
- Virginia, USA
No, I got the 420 joke, but it was clearly a serious question
JC_451
Autocross Champion
- Location
- NJ, one of the nice parts.
- Car(s)
- 2017 GTI Sport
Yeah, these are precisely the type of concerns I have. Plus filling taxes means you're creating a legal record of your illegal activity and reporting it to the government. In theory, at any time, an AG could just decide "we're going to pursue this now" and all these investors would be in deep shit.
JC_451
Autocross Champion
- Location
- NJ, one of the nice parts.
- Car(s)
- 2017 GTI Sport
The stretch from investor in weed corp to supplying capital to a criminal enterprise is a reach too far even for Mr. Fantastic.
JC_451
Autocross Champion
- Location
- NJ, one of the nice parts.
- Car(s)
- 2017 GTI Sport
That bitch doesn't pay.