Category: US and Canadian Individual

US & Canadian Cross-Border Tax Service - Cross-Border Financial Professional Corporation - US and Canadian Individual
U.S. Dual-Status Tax Returns – Why You May Need A Cross-Border Tax Accountant

U.S. Dual-Status Tax Returns – Why You May Need A Cross-Border Tax Accountant

U.S. Dual-Status Returns: Guide by a Cross Border Accountant Toronto Moving across the border involves more than just packing boxes and hiring movers. The year an individual enters or departs the U.S. often brings a complex web of tax obligations. If you are navigating this…
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RESP on US Tax Return

The ABCs of Canadian RESPs for U.S. Tax Filers

The ABCs of Canadian RESPs for U.S. Tax Filers: A Guide for U.S. Citizens in Canada Saving for your child’s education is one of the most responsible financial steps a parent can take. In Canada, the Registered Education Savings Plan (RESP) is a powerful tool…
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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 is often overwhelming. You likely face unique requirements and deadlines from two different countries, and understanding them is crucial to prevent penalties. Whether you are searching for a cross border accountant in Toronto or…
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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

John and Jane had dreamed of a life in Canada for years. They loved the idea of living in Toronto, drawn by its vibrant culture, safe neighborhoods, and ample business opportunities. When the chance to move finally arrived, they didn’t hesitate. However, like many Americans…
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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. is an exciting new chapter, but it also introduces financial and tax complexities that can feel overwhelming. Navigating the tax systems of two different countries requires careful planning and a deep understanding of the rules. This guide is here…
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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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US Employer, Working in Canada? Tax Treaty Tips for Non-Residents

Working in Canada for a US-Based Employer – Possible Canada/US Tax Treaty Exemption for Non-Resident Individuals

Income from employment is generally sourced to where the work is performed. This means that the country where the work was performed usually has the first right to tax payments or withholdings on the income. If you are a tax resident of a country that…
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FICA Exemptions for Canadians on a U.S. Income Tax Return

FICA Exemptions for Canadians on a U.S. Income Tax Return

If heading to the U.S. on an assignment, it’s important to consider whether you expect to be there for the short-term, or to permanently set up shop. Why? You will want to plan for social security tax payments and whether those should be made in…
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Should the Sale of a Canadian Principal Residence Be Avoided When Subject to U.S. Taxation?

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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Your RRSP Tip Sheet for U.S. & Canadian Tax Returns

Your RRSP Tip Sheet for U.S. & Canadian Tax Returns

You’ve worked hard for your retirement income. If you’ve decided to retire in Canada and are approaching the age of 71, you may find that a bit of year end tax planning may save you a lot. (more…)
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