Category: Canadian Individual Tax

US & Canadian Cross-Border Tax Service - Cross-Border Financial Professional Corporation - Canadian Individual Tax
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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Tax Tips Moving from Canada to the US

Tax Tips for Moving from Canada to the U.S.

Moving from Canada to the U.S. comes with financial and tax-related complexities that can prove daunting. This guide is designed to help you navigate these challenges by providing accessible, concise, and accurate information on several key areas. Topics covered include tax implications of obtaining a…
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OAS and CPP on US Tax Return

The Taxation of OAS and CPP Payments for Canadians on a U.S. Tax Return

Navigating the tax landscape for Canadians filing a U.S. tax return can be a challenging endeavor due to the intricate interplay between the tax laws of both countries. This article aims to shed light on the tax implications for Old Age Security (OAS) and Canada…
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Filing US Tax Returns in Canada

How to File a U.S. Tax Return from Canada as an American?

Navigating the taxation landscape as a U.S. citizen living in Canada can be complex and challenging. The tax systems in both countries have their own unique requirements and deadlines, and understanding them is crucial to ensure accurate reporting and prevent penalties. This blog post aims…
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Moving from the U.S. to Canada Tax Tips

Tax Savvy Americans: Important Things to Consider Before Moving from the U.S. to Canada

Moving from the U.S. to Canada? Learn 10 important tax factors to consider. John and Jane had been dreaming of a life in Canada for years. They loved the idea of living in Canada – with its laid-back lifestyle, beautiful scenery, and ample opportunities for…
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Determining Canadian Residency

Determining your residency status is fundamental to assessing tax impacts. Why? Your liability for tax will depend on whether you’re a resident, or not. In Canada, resident individuals are generally taxed on their worldwide income – even if earned outside of Canada. A non-resident Canadian…
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A Quick Tax Guide to Canadian Residency and the US-Canada Tax Treaty Tie-Breaker Rules

With Canadian residency impacting an individual’s tax status, it is important to have a clear understanding of what it means to be a Canadian resident for tax purposes, including the tie-breaker rules under the US-Canada tax treaty. Individuals immigrating to, or emigrating from Canada, those…
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Reducing Canadian Withholding Taxes When Earning Rental Income From The U.S.

An offer to work on assignment in the U.S. may be good reason to be filled with excitement. Benefits often include a pay raise, new work challenges, exposures and even housing and school benefits for your kids. But as you consider these perks and the…
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Should the Sale of a Canadian Principal Residence Be Avoided When Subject to U.S. Taxation?

Your principal residence is likely one of, if not your largest asset. As a dual U.S. and Canadian tax filer, planning for the tax implications is key. (more…)
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Do I need to File a US Tax Return?

Do I need to File a US Tax Return? If you are a US Citizen, Resident Alien (Green Card holder, or deemed US resident), or a non-resident with certain US source income, the answer may be, “Yes.” US Citizen or Resident Alien? Figuring out whether…
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