Category: US and Canadian Individual

US & Canadian Cross-Border Tax Service - Cross-Border Financial Professional Corporation - US and Canadian Individual
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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RESP on US Tax Return

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

Registered Education Savings Plans (RESP) Basics – What You Need to Know A Registered Education Savings Plan (RESP) is a special savings account established by the Canadian government to help parents save for their children child’s post secondary education after-secondary education. The unique aspect of…
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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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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

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

The year an individual enters or departs the U.S., there are often several options for filing a U.S. tax return. Working with a cross-border tax specialist that knows the “ins and outs” of the options will help you maximize your tax benefits. (more…)
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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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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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