If you have the option of being a fiscal resident in either Canada (as a citizen) or the US (as a GC holder), which would have the lowest long-term tax cost? Income is 100% via self-employment (as a contractor) and (primarily) investment income.
If in Canada, I would likely live in Alberta. If in the US, likely Vermont in the short-term and out west (in a low-tax state) in the long-term. (If this is too generic a question, please let me know what other information I can provide.) Thanks for your help.
Long-term tax efficiency, US vs Canada
Moderator: Mark T Serbinski CA CPA
Re: Long-term tax efficiency, US vs Canada
Where will you be physically working?
If you want to keep your GC, you will need to live in US.
If you want to keep your GC, you will need to live in US.
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
Re: Long-term tax efficiency, US vs Canada
Okay, thanks. Good to know. I work remotely, so any low-tax state will do.
So even a marriage GC would be lost if not working in the US?
So even a marriage GC would be lost if not working in the US?
Re: Long-term tax efficiency, US vs Canada
Yes, after two years, or after it becomes clear to CBP that you live in Canada, whichever is shorter, your GC will be confiscated,
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