Ask Allan Forum
Get expert answers to your tax questions straight from Allan, our owner and experienced CPA. It’s free, direct, and designed to help you make the best decisions when it comes to your taxes.
Hello I'm a Canadian resident and citizen and I'm considering taking a consulting position with a US based firm. I have my permanent home in Toronto but would be commuting on a regular basis to work in the US. I watched some of your videos which I found helpful.
I would appreciate any advice if I decide to take the position.
Thanks kindly
If you maintain your home in Canada and travel back and forth the US for work, then you will likely remain a resident of Canada and a non-resident of the US pursuant to the Canada-US tax treaty. That means you will have to pay income tax in the US on your US earnings. As a Canadian tax resident, you will be responsible for paying Canadian income tax on your worldwide income. However, you can claim a foreign tax credit on your Canadian return for the American taxes paid.
I can prepare both your US and Canadian returns if you require.