QUESTION:
I am a Australian Citizen, married to a US Citizen and currently residing in
Canada on a 2 year study visa (since August 2004). My husband is in Canada
as my dependant. We bought a house with some farm land which we are in the
process of renovating. We were intending to apply for residency in Canada &
live & work here, but have recently been offered the opportunity to take
over my father-in-law's business in Chicago, USA. We think at least part of
the business could be run from Canada (my brother-in-law lives in Chicago &
works for the business already), and would still like to live here some of
the time.
I need to apply for residency somewhere (either US or Canada) and want
advice on whether to apply for one or both from a tax point of view. Also,
I will probably be part owner of the business (limited liability company),
as well as working in it so will possibly need to earn income in the US and
Canada. Any advice would be gratefully received!!
---------------------------------
david ingram replies
This is just too big to answer here. You will receive a lot of emails which
will help you answer your question and you will get a lot by going to
www.centa.com and reading the US/Canada Income Tax section in the box on the
right hand side.
You likely want to send me more including dollar amounts and expect to pay
$375 Canadian for an hour phone consultation.
You could be living in Canada and running a US business or you could move to
Chicago and visit Canada. In general, my advice would be to spend three and
a half to four years in Canada and get your Canadian citizenship first.
Then have your husband apply for your US residency and eventual citizenship
if you decide to move.
Answers to this and other similar questions can be obtained free on Air
every Sunday morning.
Every Sunday at 9:00 AM on 600AM in Vancouver, Fred Snyder of Dundee Wealth
Management and I, David Ingram host a LIVE talk show called "ITS YOUR
MONEY"
Those outside of the Lower Mainland will be able to listen on the internet
at
www.600AM.com <http://www.600am.com/>
Local calls are taken at (604) 280-0600 and Long Distance calls (BC only)
are taken at 1( 866) 778-0600
Callers to the show are invited to attend free seminars on financial
planning with such specialities as deductible mortgage interest. They are
held at Fred Snyder's Office at 1764 West 7th in Vancouver - (604) 731-8900
for more information.
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Disclaimer: This question has been answered without detailed information or
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and all non-contractual duties are expressly denied. All readers should
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