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Moving to the USA from Canada
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Tiger Man Offline
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Post: #26
RE: Moving to the USA from Canada
Laner,

You say you are married with a family, so I don't know how interested you are in travelling a few times a year. But, if you have it in you to set up shop "primarily" in the US, you could do a PT type thing. If you live in the US four months out of the year, you should never become resident for tax purposes. Further, if you establish legal residency in a third country (Panama would be your best bet, from what I know), you could split 8 months of the year between Canada and the US (four in each). Then, you would just need to figure out where to spend the rest of the year. I know a few people who successfully do this. Some even have small children. The major benefit of this is that it functionally takes your personal income tax level to 0. That is worth the effort for a lot of people, in my opinion. But, again, I don't know if you'd consider something like that.

Currently out of office.
04-12-2018 05:41 AM
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JohnQPublic Offline
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Post: #27
RE: Moving to the USA from Canada
If you make enough to want to move, you should consider a consultation with a Price Waterhouse. They'll charge you a lot and it will be money very well spent. They'll know all the loopholes and will be able to set up a structure where you maximize profit while still paying all those taxes. Companies like Price Waterhouse are the reason why Mitt Romney pays a lower income tax rate than the lowest paid person in any of his companies. I did this once and i can't count how many times people told me it must be illegal. But when the tax office called me in, they said I was paying too much. So while everybody thought it was too good to be true, the accountant was actually being cautious.
(This post was last modified: 04-13-2018 02:39 PM by JohnQPublic.)
04-13-2018 02:37 PM
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Jagnum Offline
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Post: #28
RE: Moving to the USA from Canada
We'll welcome you to Washington.

Lynden is probably the perfect location. You're just outside Bellingham if you need anything. You're two hours from Seattle, you're basically a commute away from Vancouver. You're close to Baker to ski, my preferred mountain in the state, very laid back vibe.

The Delta border is pretty quick, faster than I-5 as you know.

(07-13-2015 04:02 AM)Suits Wrote:  If you're serious about self improvement and make real effort, this forum will always have your back.
(This post was last modified: 04-20-2018 12:16 AM by Jagnum.)
04-20-2018 12:14 AM
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jbkunt2 Offline
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Post: #29
RE: Moving to the USA from Canada
I would strongly recommend the USA and not some Caribbean tax haven.

There will be a ton of hidden costs and hassle if you moved your company to Panama. You have a family so it’s not even worth considering.

If you are married, take the new 20% S-Corp deduction and pick a state without income tax, you will pay a very nominal rate on even a high income. If you bet $500k you will barely push 20% taxes. That is fantastic when compared to other developed countries.
04-20-2018 09:28 AM
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Ski pro Offline
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Post: #30
RE: Moving to the USA from Canada
I have no experience of moving from Canada to the USA however you're experience of the government taking half is what pissed me off about the businesses that I ran in the Uk.

That feeling that you couldn't 'get on' was ultimately why I left.

Doing business here is more complicated in some respects but at least there is a culture of enterprise here.

Good luck with the move. You won't regret it.
04-20-2018 09:52 AM
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Laner Offline
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Post: #31
RE: Moving to the USA from Canada
A mentor of mine, a man in his 80's, has offered to sell me his business. He had offered about five years ago, but I was not really in the same mentality as I am now.

I have a growing business here in Canada, and his business is in the same industry. I would be interesting in acquiring his operation as a way to move into the USA - both personally and business wise. His also comes with a house and 5 acres in the Bellingham area.

This will likely be an acquisition over my head, but if these two big US based contracts come through like I think they will, then this move for some US based operations might be a good move.

Its my family that are dragging their feet. Also my business partner, but he is getting more sick of Canada each day.
04-20-2018 11:45 AM
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