Independent Contractor (US Citizen) for US Company living in Canada

[amenahi]

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!

 

[KVM_BC]

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?

 

[HamiltonApplicant]

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