Moving a Business from Canada to the US: Financial Strategies for a Successful Business Move
If you are an Ontario business owner considering a move to the United States, you probably have many questions about how to make a financially successful move. For example, you may have questions about purchasing health insurance for you and your employees, investing in property for your new business location, and how to avoid being double taxed. You may also be wondering just how much relocating your business is going to cost you. At Hogg, Shain & Scheck, we are dedicated to providing you with the answers you need for a successful business relocation.
Make a plan
Having a solid financial plan in place before relocation will make for a smoother transition. Mapping out your plan with the expert help of a trusted, experienced financial planner will help you to avoid unnecessary risks that could include paying higher taxes or even breaking immigration or tax laws.
Although we highly recommend hiring a financial planner with experience on both sides of the border, it also pays off to educate yourself on the many business differences between the US and Canada. For example, you’ll need to know the differences between employment law in both countries, as well as the differences between business related taxes. Also, you may need to change your business model. What worked in Ontario may not work in the United States.
You’ve grown used to doing things one way in Canada but you’re also ready to try something new. Whether your goal is business expansion or cutting business costs by relocating to the United States, let us help you. Contact Hogg, Shain & Scheck before you and your business cross the border.