@pk This is helpful and I think I want to evaluate this approach (self-employment income). Question: let's assume I wanted to see if the "self-employment" income would yield a lower tax due in the U.S. I don't see where I can enter self-employment income in my version of TurboTax Premium online. I have a section for W2 income, Investments, and 1099 OID/Foreign Accounts. I don't see any section for self-employment income.
Question regarding this below: And YES it does expose you SECA ( 15.3 % of Schedule-C Net income ) , but because US and Canada have a Totalization agreement in place, you can choose to pay to ONE country only by providing a "Certification of Participation " to the country where you do not pay SECA. On Schedule-SE, you enter the exclusion clause .
Question: Is this to say that if I were to provide the U.S. a "Certification of Participation" then that I don't need to pay the U.S. any SECA because I am already being taxed by Canada as an employee? How do I go about providing said certificate? And if I don't need to pay the IRS any SECA, would I need to then pay Canada also SECA or not necessarily because they are already taxing me as a full time employee? Thanks in advance!
