Should I base the business in the US or Canada

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eortlund
Posts: 272
Joined: Tue Aug 07, 2007 12:18 pm

Should I base the business in the US or Canada

Post by eortlund »

I am an American living in Canada. My husband has a work permit and we are applying for PR. I could get an open work permit and an SIN. I am interesting in starting a home-based business. I could go ahead and get that Canadian work permit and set it up in Canada. Or I could set it up so that it's an American business and any income I earn goes into an American account. I'm wondering which one would be more advantageous. We're been doing the Foreign Tax Credit on our US taxes. I understand I could deduct business expenses on my taxes, and I'm guessing this would be easiest to do if I got a work permit and set it up as a Canadian business?
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