My wife and children are dual citizens (Canadian / American) and I am a US citizen. We plan to move to BC in 2-3 years. My wife would sponsor me and I would be a resident of Canada until I can apply for my Candian citizenship (~3 years). I would like to get some direction on how to structure my income from my company. I am self employed (service industry), no employees (my wife helps me) and currently have a S-Corporation. At this time, all the income is salary (reasonable salary) and I pay FICA (15.3%) on that income. When I move to BC, I am going to keep my clients and run the company from Canada. What is the best way to structure my company to eliminate FICA and pay CPP? I know that living in Canada and being a US citizen requires me to file US
taxes (would be exempt of paying them with the treaty) and paying taxes in Canada. My goal is to transfer the income generated in the USA and pay CPP, federal and provincial taxes in Canada. I need to have the business seperate for limited liability in the USA. Should I convert the S-Corp to an LLC or C-Corp? When I move, the income generated will be around 60K.