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| *The Commerce Journal>>>Canada Taxes |
If I live in canada, but work for a US consulting compnay. Do I pay taxes in the US, Canada or both? |
I do not travel to the US, but work remotely It would depend upon how your employer treats your situation. You very well could be having US federal or a State tax taken off your income or pay cheques. If this is the case you would need to file both Federal and State returns in order to claim refunds. As a resident of Canada they will be taxing you on your world wide income so you would need to include your US consulting income converted using Rev Can averages or the actual dollar amounts in Cdn along with reporting any US federal or state taxes paid. Reporting worldwide income although not favoured by many out of Canada workers assists with increasing your RRSP contribution limit which will allow you somewhat of a break but you should always check with a tax service or your local tax preparer. You should be paying taxes where you work not who you work for It is based on where you are when you perform services. So if you are working remotely in Canada, then you should not be subject to tax in the US. Hopefully your employer is not withholding US taxes, then you would have to file a US tax return to claim a refund of those taxes. |
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