Canadian Software Developers Working as Contractors for US Companies?

I’m a Canadian software developer exploring the possibility of working remotely for a US-based company. For those who have done this, did you set up a US company or work as a contractor instead of an employee? What were the tax and legal implications of your arrangement in both Canada and the US?

Additionally, did your US employer recognize Canadian statutory holidays, and overall, was the effort involved in navigating these complexities worthwhile? I’d appreciate any advice or insights based on your experiences.