Author Topic: New Resident of Canada with Passive American Income  (Read 438 times)

AlyBailey

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New Resident of Canada with Passive American Income
« on: November 14, 2019, 09:43:26 PM »
Hello,

I am an American citizen and have newly become a permanent resident of Canada.  I will be living and working there full-time soon. Although I am no longer working in the US, I will be receiving profit sharing or royalties from the business that I worked for in the US.

How do I go about doing my taxes? My very basic understanding is that I pay American taxes on what I make there, Canadian taxes on my net world income and taxes from one somehow get credited against the other. Any advice at all would be greatly appreciated