Which US states allow the formation of LLLPs for US real estate investments?

Question: I’m a Canadian citizen and resident. My Canadian accountant told me to purchase US real estate through an LLP or LLLP. Which states allow for LLPs vs LLLPs to be setup? Answer: Unlike LLPs which can be formed in any state, only certain states offer the option for the creation of an LLLP. These … Continue reading Which US states allow the formation of LLLPs for US real estate investments?

What’s the difference between an LLP and LLLP with respect to US real estate purchases?

Question: I live in Canada and I’m a US real estate investor. I want to set up a limited partnership in the US for real estate I own but I have no idea what the difference between an LLP and an LLLP is. Answer: In an LLP (limited liability partnership), the partners assume the management … Continue reading What’s the difference between an LLP and LLLP with respect to US real estate purchases?

Taxes for U.S. Expatriates in Canada

This article about taxes for US expatriates is aimed at helping anyone looking for information regarding tax consequences for Americans working overseas.

What are the Canadian Taxes for Expatriates?

This article surrounding tax breaks for US expatriates is about foreign earned income exclusion, and if you are a US expat or are planning on moving abroad this will definitely help.

If I am a non-resident of the US, do I need a social security number to file taxes?

As a non-resident of the US, you will require an ITIN (International Tax Identification Number) to file US Tax Returns. In order to receive this number you will need to fill out form W-7 and attach it with your US Tax Return for the year.

If I am sending Canadian employees to work in the United States, do I need to withhold social security taxes from their pay in both Canada and the USA?

If you own a Canadian corporation that is sending Canadians to work on its behalf in the USA, the USA-Canada tax treaty gives you the option of not withholding social security taxes from your employees’ pay-cheques. To be eligible for this provision, you must apply for a certificate of coverage.  

A US corporation is considering doing business in Canada. What are some of the formalities that must be fulfilled?

You must obtain a Business Number, Sales Tax Number (i.e. GST #) and a Payroll Number, if there are employees. If the corporation does not have a physical presence in Canada, then a Treaty-based corporate tax return must be filed every year in order to avoid paying income tax. Otherwise, absence of filing will result in the corporation … Continue reading A US corporation is considering doing business in Canada. What are some of the formalities that must be fulfilled?

How can I avoid double taxes on my payroll if I am a US citizen working in Canada?

Question: I am a US Citizen taking up work in Canada this year. My family and home will still reside in the US. How can I avoid double taxes on my payroll? Answer: If you a resident of the US, and you work in Canada, you can file an election to have your US Payroll … Continue reading How can I avoid double taxes on my payroll if I am a US citizen working in Canada?

What happens if you take out your US Retirement savings after moving to Canada?

Under Canada and US tax rules, funds withdrawn from an IRA or 401K are taxed as income in year of withdrawal. The amount withdrawn must be included as income on your Canadian tax return. However, you can claim a a tax deduction for the entire amount of the withdrawal, if all amounts are transferred to … Continue reading What happens if you take out your US Retirement savings after moving to Canada?

Taxes for US Citizens Living In Canada

Before we go ahead with the rest of the article, here’s a little introduction. My name in Allan Madan. I’m a chartered accountant and tax expert in the Oakville, Toronto and Mississauga regions of Ontario, Canada. This article is about US Citizens Living in Canada and taxes.

Americans Working in Canada and Taxes

Are you an American working in Canada? Consider the major tax consequences that will directly affect you! Here are 7 seven major tax implications that Americans working in Canada should watch out for.

Tax Implications of U.S. Companies Expanding to Canada

Many American companies today are looking towards Canada as one of the primary destinations for international expansion due to geographical proximity and Canada’s relatively strong and stable economy.

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