Awesome! That's like the ideal situation right there. I'm an American that moved to Canada back in 2002 and worked as a contractor for my US employer for more than 4 years. The yearly tax stuff drove me insane.
It's not so much ideal as a nice compromise. I'm still earning much less than I would with similar experience doing similar work in _Seattle_, but I get to stay in Canada and earn more than I could easily manage working for a local company.
We own shares in the American company and are paid through a Canadian subsidiary. That compensation scheme avoids burdening the employees with the difficulty of declaring foreign earnings come tax time.
So for the most part it's the same as working for a Canadian company, but the pay is better.