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US & Canadian Cross-Border Tax Service - Cross-Border Financial Professional Corporation
TFSA On US Tax Return

Canadian Tax-Free Savings Accounts – Pitfalls on a U.S. Tax Return

Financial planning involves understanding various savings and investment accounts. Each account has unique rules and benefits. The Tax-Free Savings Account (TFSA) is popular among Canadians. Yet, it becomes more complex when dealing with cross-border tax rules. In this blog post, we will explore the intricacies…
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Key Tax Deadlines for U.S. and Canadian Individual Tax Filers: 2025 Filing and Reporting Deadline Insights

Getting Cross-Border U.S. Canadian Tax right means keeping on top of cross-border tax planning, meeting U.S. Canada tax deadlines, and reporting foreign assets. Whether you’re an expat, investor or have connections across the border, working with a cross-border tax advisor can make a real difference…
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Navigating the ITIN Application Process: Default Methods and Exceptions

When applying for a U.S. Individual Taxpayer Identification Number (ITIN), many applicants follow the default application process, which involves submitting a Form W-7 along with a U.S. tax return to the Internal Revenue Service (IRS). An ITIN is essential for individuals who do not have…
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Cross Border Tax Accountants: Your Essential Guide to Moving North or South

Life rarely respects national borders. You might find yourself moving for a career opportunity in Silicon Valley, retiring to the coast of British Columbia, or investing in real estate across the line. While the physical move requires logistics and packing tape, the financial move requires…
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The Underused Housing Tax (UHT) Return & Election Form: Some Key Points to Know

The Underused Housing Tax (UHT) Return & Election Form: Some Key Points to Know

Are you a residential property owner in Canada? If so, it’s important to understand the Underused Housing Tax (UHT) and how it applies to your situation. The UHT applies to residential properties that are “underused” based on certain criteria. In this blog post, we will…
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OAS and CPP Taxation for U.S. & Canadian Dual Tax Filers

OAS and CPP Taxation for U.S. & Canadian Dual Tax Filers

U.S. & Canadian dual tax filers often wonder if the Canada Pension Plan (CPP) and Old Age Security (OAS) payments, which provide retirement benefits to Canadians in their later years, is taxable in the U.S. and Canada. The answer depends on where you live! (more…)
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US and Canadian Pensions - Tax Rate Under Treaty

US and Canadian Pensions – Tax Rate Under Treaty

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US LLC: A Viable Option for Canadian Residents?

US LLC: A Viable Option for Canadian Residents?

Many Canadians view the U.S. as “ripe” with opportunities for investment. With U.S. LLCs offering up many benefits to American-only filers, it’s no wonder that this country is becoming more popular among Canadian investors. But before taking such a plunge head first – especially when…
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Canadian Tax-Free Savings Accounts - Pitfalls on a U.S. Tax Return

Canadian Tax-Free Savings Accounts – Pitfalls on a U.S. Tax Return

Assessing the benefits of maintaining a Tax-Free Savings Account (TFSA) is often off the radar of a U.S. income tax filer. With all the advantages to a Canadian resident, most view TFSAs as something good. However, there are a few reasons why U.S. filers should…
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Achieving International Compliance on a U.S. Income Tax Return – IRS Streamlined Tax Filing and Other Procedures

Achieving International Compliance on a U.S. Income Tax Return – IRS Streamlined Tax Filing and Other Procedures

So many individuals leave the U.S. to reside in Canada or elsewhere thinking they are free from filing a U.S. tax return with uncle Sam. They move along with their lives not realizing that even though they are not living in the U.S., they may…
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