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'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!