I have a completely virtual, web-based business located in Nevada, where I currently reside. I would like to move to Canada, but I’m unsure of how to best organize my taxes. I do not own property in Nevada.
- I heard about some type of exemption for the first 5 years of residency in Canada, is this still valid?
- Is there some way of keeping my US Citizenship so I can keep my business in Nevada, but still reside in Canada?
- I know if I remain out of the US for all but a few months per year, I will be tax free on the first $82,400 or there about. How can this potentially affect me?
Thanks in advance for any thoughts or advice.
As I own my own business (organized as an LLC) and will not gain employment in Canada, what would be the best way of gaining citizenship. Or, would it be more advantageous not to gain citizenship, somehow?