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amenahi

Newbie
Apr 17, 2017
1
0
Hi All,

I'll be moving to Toronto, ON this summer and will work remotely as an Independent Contractor (working as Project Management Consultant) for a US Company. I am an American Citizen and we plan to live in Toronto for 2 years due to my husband (dual US & Canadian Citizen) accepting a job offer there. I have an LLC registered in the US. I have applied for an Open Work Permit in Canada and will apply for a PR once we get there.

From a tax perspective, can I keep my LLC operating in the states? Do I have to do anything else besides file taxes for both countries? Is there another scenario that will be financially beneficial to me?

Any input is appreciated!
 
I have almost the exact same scenario, though I am in Canada on a study permit while my husband is on a work permit. I too have a sole-member LLC based in the US, and am wondering if I can maintain it before/after PR. Did you ever get an answer to this?
 
Hi All,

I'll be moving to Toronto, ON this summer and will work remotely as an Independent Contractor (working as Project Management Consultant) for a US Company. I am an American Citizen and we plan to live in Toronto for 2 years due to my husband (dual US & Canadian Citizen) accepting a job offer there. I have an LLC registered in the US. I have applied for an Open Work Permit in Canada and will apply for a PR once we get there.

From a tax perspective, can I keep my LLC operating in the states? Do I have to do anything else besides file taxes for both countries? Is there another scenario that will be financially beneficial to me?

Any input is appreciated!
can I keep my LLC operating in the states?
Ans: Yes
Do I have to do anything else besides file taxes for both countries?
Ans: In Canada, you are required to declare your worldwide income; which means, you might have to pay some tax in Canada for your income in the US...
Is there another scenario that will be financially beneficial to me?
Ans: Parking some money in schemes like RRSP might save you some tax dollars