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Cname

Newbie
Nov 2, 2015
1
0
Hey everyone,

Here is my situation. I am an independent contractor for a company based in Switzerland. So I get paid on a monthly basis. Here's the thing, I opened up a US-based bank account so that they could directly deposit funds into my account from their US-based account so that I would not be charged wire transfer fees.

To do this I had to fill out a W8-BEN US tax form and send it off to my bank for approval. Now when money gets deposited to my US-based bank account I can just transfer it out into my Canadian account.

I'm wondering if this messes with my taxes at all? Does anyone know if I would need to pay double taxes because I have a US-based intermediary bank account with money being deposited into it? I know I will have to pay the CRA taxes as an independent contractor but can anyone shed some light if there will be any implications for me with the US?

Thanks
 
Hi,
I'm also interested in knowing the way out of this and possible options.

I think if your company deducts tax for your gross pay then you shouldn't have to pay taxes again.