Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

Advice on money transfer business
As soon as I see the word "friends" along with money transfer I think scam. But ignoring that red flag.... You will have American companies reporting to the IRS that you are a Canadian Vendor they have hired. Then you are transferring money to people in Bangladesh.  Assuming also that you fill out all the regulatory paperwork to establish this Money transfer business  you may still face annual reporting requirements to 3 national taxing authorities. In the United states there are situations where the US Government hires a large company to complete a project. As part of that contract they require the large company to hire small businesses to complete some of the tasks. In a situation where the large company is imply serving as a conduit for the money between the government and the sub-contractor; and the large company has no other responsibilities; the usual fee for providing that function is 8% of the funds. This pays for their expenses for their accounting functions plus profit and the taxes that will trigger. Yet you said "At the end of the day, I will not earn much, but the transactions will just burden my tax returns."  The 8 percent fee doesn't include doesn't include having to file paperwork with 3 nations.  Adding this to all the other risks associated with being an international bank, plus the legal costs of making sure you are following all the regulations...No thanks.