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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.
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