Hi,
I am a Canadian citizen started work in US 2 weeks ago on TN visa with my family on TD visa. I am doing business on my canadian corporation on a corp-to-corp basis and I am the owner and showed myself as an employee of my corporation.
I have corporation bank accounts, both in US$ and Can$ in Canadian bank. The agency who hired me to work for a client pays me in $US. My questions are:
1) Do I need to open bank account in USA or deposit cheque drawn to my corporation name in US$ account in a Canadian bank.
2) Do I need to pay taxes in US or only in Canada or both.
3) Will the agency to whom I am working for will pay my coporation GST amount or its only if I work for a Canadian employer in Canada.
4) Which expenses I can show at the end of year in my corporation.
5) Can I pay myself from my company/corporation account and show my wife as a corpoation employee so that tax brackets will be low? By paying myself and to my wife, what important things I should consider and rules of CRA.
Thanks a lot in advance and appretiate your help.
Canadian citizen on TN
Moderator: Mark T Serbinski CA CPA