Opening a company to work for US employee

[Dimhil]

Hi,

I am currently on W2 with a US employee, as I have moved to Canada, this year, I filed my taxes and was shocked to see that I had to pay additional 50K to CRA above and beyond what I paid in US.
As now I am Canada and not moving back, I think It does make sense to stop my US payroll and start a company which can have a contract with my current US employer(My employer agreed to move me from w2 to contract).
My question is now, what should be my next steps:

How will being a company rather than w2 will help me in tax?
Should I open a cooperation ? and do I need to register in Ontario or just Federal?
How can I bring money in Canada? My employer doesn't have roots in Canada.

 

[canuck78]

Hi,

I am currently on W2 with a US employee, as I have moved to Canada, this year, I filed my taxes and was shocked to see that I had to pay additional 50K to CRA above and beyond what I paid in US.
As now I am Canada and not moving back, I think It does make sense to stop my US payroll and start a company which can have a contract with my current US employer(My employer agreed to move me from w2 to contract).
My question is now, what should be my next steps:

How will being a company rather than w2 will help me in tax?
Should I open a cooperation ? and do I need to register in Ontario or just Federal?
How can I bring money in Canada? My employer doesn't have roots in Canada.

How are you continuing on your US payroll after you became a Canadian resident? What type of work permit do you have in the US or do you have permanent status in the US?

 

[jclarke99]

You don't want to be a W2 US employee while residing in Canada, and it may well be illegal. At best, you should pay the required Canadian taxes and attempt to "claw-back" taxes paid to the U.S. using the bilateral tax credit.

 

[souleymanetoure714]

Hello sir very happy to write to you, I am looking for a job in case you need an employee, you can tell me because I will be very happy to integrate into your company!