Although not explicitly stated, I believe the laws are in place to cover your situation. There are two components to your question. First is whether or not you need to have a registered sole proprietorship or company with the ACRA.HaleyF wrote:Hi there, long time lurker, first time poster You guys are awesome and I was hoping to get some advice.
So I'm Canadian, living in Singapore on a Dependent Pass (my husband has a job). Before moving here I was working in the US and have retained some of my freelance clients (I do web/product design). I was getting paid under the table there, but now that I don't have a day job they want to increase my workload and are worried about explaining to the IRS what all those personal gifts are for haha.
I'm not really sure how to legally set this up. I know Canada doesn't care about my income. I assume because I'm living in Singapore, I pay taxes here and not to the US, correct? To work legitimately here it looks like I need to register with ACRA, however, I found some language saying I didn't need to if I worked less than 60 days per year. What if I make under the $3300 a month? I only ask because I'm not sure I'd actually make that much every single month. The work has been crazy some months, and 0 others. I'm not looking to make a full-time job out of this, it's just a side gig I occasionally do.
I'd like to deposit the money into my American bank account if that makes any difference. Would the IRS tax me for keeping a nominal amount in an account there?
Thank you guys so much for any advice!
Canada is pretty much like Singapore... as long as taxes are being collected somewhere (by tax treaty) then they won't go after collecting tax.sundaymorningstaple wrote:Additionally, if she was doing this freelance (under the table - her words), regarding US taxes, as she is no longer in the US, then, as a Canadian citizen, shouldn't she be liable for Canadian taxes then? e.g., either Canadian or Singapore taxes as the case may be?
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