Cross-Border Financial Planning

As an American living in Canada, it's important that you seek the guidance of a cross-border accountant and a cross-border advisor. This post will provide you with some general information on U.S. taxes in Canada, but it’s no substitute for working with a professional.

As a US citizen, it’s common to get frustrated when you try to find information on what to do with your 401k.

You’re planning a move to Canada or you’ve already moved, and you’re wondering if you can move a 401(k) or IRA to an RRSP and what the tax implications might be.

When it comes to FBAR filing requirements and reporting, it can get complicated. So choosing to work with a cross-border accountant will likely be your best option.

A PFIC is a passive foreign investment company. If a non-US company satisfies either of the tests below, it is considered a PFIC.

In Canada, we do not have a Roth IRA. The most similar investment vehicle is the TFSA, which stands for tax-free savings account.

Moving your 401(k) to Canada without proper advice or planning can mean a significant tax bill.

Investments, trusts, taxes, and estate planning all work differently in Canada, so it’s essential to be prepared.

When you live in Canada and take money out of your 401(k), the US will withhold money to pay your US taxes.

If you're planning on leaving the US to live in another country, then you've probably heard about the US Exit Tax.

Canadians who pay foreign taxes can generally claim a credit for taxes paid on employment, business, and investment income.

If you are a U.S. person living in Canada—whether you're a Green Card holder, U.S. citizen, or dual citizen—understanding how to manage U.S. capital gains tax is critical.

When you contribute to a TFSA or a Roth IRA, you don't get a tax deduction at the end of the year.

Renouncing your Green Card is a major life decision, and for long-term residents, it can come with significant financial implications.

Moving to Canada can feel like an overwhelming task. For successful professionals in the U.S., it's not just about packing your bags and crossing the border.

A fiduciary is a professional who is legally bound to act in the best interests of their clients.

Are you planning on moving to the US from Canada? From sorting out visas to understanding tax changes, there's much to consider.

Unlike many other countries that impose a direct tax on inheritances, Canada's approach to taxing inheritances is more nuanced and indirect.

If you're a dual citizen of the U.S. and another country, like Canada, you are taxed on your worldwide income by the U.S., no matter where you live. For example, even if you're living in Canada and earning income there, the U.S. expects you to report your global earnings. However, most countries, including Canada, have tax treaties with the U.S. to help avoid double taxation.

Reporting a foreign inheritance to the Canada Revenue Agency (CRA) is crucial for compliance and avoiding potential penalties.