I'm also a Canadian registering an LLC in the US.
I've been offered a 9 month contract in WA and my brother advised me on starting an LLC in the US to write off my rent, health insurance, relocation expenses. I would be entering the US on a TN1 visa. A company is hiring me and recruiting my services to another company.
As a recent graduate (with limited finances), I am unsure if this is financially doable. On top of having to possibly pay for business liability insurance and other insurance related the LLC, my contract says I will be getting paid every 1.5-2 months, which is already a significant amount of time for me to wait, but I need a job!
I was told an LLC could save a tremendous amount of money. However, is this even worth it considering the length of the contract? How would Canada tax me for having a corporation in the US if I'm earning ~70k (based on yearly salary)? Wouldn't that mean a huge amount of
taxes from the Canadian government even if it's earned in the US? Would I need accountants in both Canada and the US or is Quickbooks enough?
I would like advice from someone who has done something similar or knows about this. I'm in my early 20's and I am not sure if the reward of this system is worth all the paperwork!
Thanks
