I am a Canadian permanent resident and I am negotiating with a company in USA for a remote job. I can work from my home remotely here in Ontario only for them, they plan to pay me by bank cheques every month or bi weekly. Note that I am not a US citizen, I hold a passport from an asian country and have a Canadian permanent residency.
Once they send me bank cheques work from their part will be done probably and I will need to manage things here when it comes to taxes or depositing the cheques. They will pay me in US Dollars btw. I am only a contractor and will be paid for my services so there is not much related to issuing shares etc and I want to ask which form of business should I setup here in Ontario for this. Should I setup an incorporation which can give me tax benefit as I can claim a bunch of things as expense or should I register myself as sole priorities? If I setup an incorporation they should be sending me bank cheques on the business name and not my personal name I believe.
anyone in similar situation? Please advise
canadian resident working for usa company
Moderator: Mark T Serbinski CA CPA
As a contarctor, you are entitled to many expaense regardless if yopu incorporate or not, so that should not be your deciding factor. Liability would be a greater one.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
[quote="nelsona"]As a contarctor, you are entitled to many expaense regardless if yopu incorporate or not, so that should not be your deciding factor. Liability would be a greater one.[/quote]
Thankyou for the reply.
Does this mean that with sole proprietor also I can send some part of salary to my spouse and claim it as an expense? exactly the same like incopuration .
Also I think if i register as sole proprietor the company will send me bank cheques on my name, so no need to open another bank account and I can use the one with TD here, if I incorpurate the company will send me bank cheques with the name of my company and not my personal name. Is this understanding correct?
Thankyou for the reply.
Does this mean that with sole proprietor also I can send some part of salary to my spouse and claim it as an expense? exactly the same like incopuration .
Also I think if i register as sole proprietor the company will send me bank cheques on my name, so no need to open another bank account and I can use the one with TD here, if I incorpurate the company will send me bank cheques with the name of my company and not my personal name. Is this understanding correct?