Business Tax Question American moving to Canada *web design

[treelifedesigns]

Hey Guys,

Here is my situation. My wife is Canadian and I am American and we are moving to Canada. She is going to sponsor me as a Permanent Resident and that is all taken care of. My main concern is with my business.

I am the owner of a web design company in America and it is setup as an LLC. I get clients from all over the world and make a nice little living on what I do. Living in Canada do I pay Canadian taxes or American taxes on my profits . I imagine I won't be double taxed, but how do I handle it.

Do i need to do any paperwork or registering my business in Canada or can I do business as usual and keep filing my american taxes for my business, since I am just living in canada?

Let me know if you need any more information

Thanks in advance, Nate

[lindashoff01]

Clients will also, hire a tax accountant to represent them and should they come, under the investigation of the Internal Revenue Service (IRS). The accountant will act on his client’s behalf and deals with the IRS agents, during an audit or will fight off any claims against the client made by the IRS. He will also, represent the client in tax disputes and will make tax refund claims, if any, for his client.

[LucilleLoveland]

Hi! The guys above really thank you very much for sharing, really useful information

[MentonDaniel]

Yes, you will need to register yourself as an individual entrepreneur. And moving to Canada with your business is exactly the right decision! Developed economy, financial, and banking sectors. The Canadian economy has also benefited from the growth of exports of goods in recent years due to the abundance of natural resources

[MentonDaniel]

MentonDaniel wrote:
Yes, you will need to register yourself as an individual entrepreneur. And moving to Canada with your business is exactly the right decision! Developed economy, financial, and banking sectors. The Canadian economy has also benefited from the growth of exports of goods in recent years due to the abundance of natural resources
The state of the economy means that organizations expanding there will have access to a vast consumer base and various resources. You can also take the <a href="https://clubvip777.com/">anchor</a>Wall Street Prep Financial Modeling Course to create a financial model for your business, considering the specifics of the Canadian market.

[Fricenaz]

Hey Nate,
I went through a similar situation when I moved from the U.S. to Canada. I kept my business based in the States and continued to file U.S. taxes for it. You'll need to report your worldwide income to the CRA, but the U.S.-Canada tax treaty should help you avoid double taxation.
When I moved, I registered my business as an extra-provincial corporation in my province just to be safe. It's a bit of extra paperwork, but it was worth it for peace of mind.