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How to File Your U.S. Tax Return While Living in Canada
It’s a conversation we have almost every week.
A client sits down, looking confused and a little frustrated. They’ve lived in Canada for fifteen years, they pay their taxes to the CRA on time, and they consider themselves fully Canadian.
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How to File Your U.S. Tax Return While Living in Canada
It’s a conversation we have almost every week. A client sits down, looking confused and a little frustrated. They’ve lived in Canada for fifteen years, they pay their taxes to the CRA on time, and they consider themselves fully Canadian.
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Loading...How To File Foreign Business Income Taxes In Canada
It used to be that “foreign business income” was something only massive corporations worried about. Today, it’s Mark, a graphic designer in Toronto who freelances for a startup in New York. It’s Sarah, who sells handmade jewelry on Etsy to customers in France.
(No Ratings Yet)Loading...How to Avoid Double Taxation Between the U.S. and Canada
Imagine working hard all year, only to find out that both the Canada Revenue Agency (CRA) and the Internal Revenue Service (IRS) want a full slice of your income. Suddenly, a $100,000 salary could look more like $40,000 after both countries take their cut.
(No Ratings Yet)Loading...How a Tax Accountant Can Simplify Cross-Border Tax Issues
Last month, a client came to us panicking about a $10,000 FBAR penalty notice. She had no idea her Toronto savings account needed to be reported to the IRS.
(No Ratings Yet)Loading...Should You Invest in Cryptocurrency Personally or Through Your Corporation?
As cryptocurrency investing in Canada continues to grow, many incorporated professionals – especially consultants, IT specialists, and entrepreneurs – are asking an important question: Is it better to invest in crypto personally or through my corporation?
(No Ratings Yet)Loading...Cross-Border Inheritance: How Canada and the U.S. Tax Estates and Inheritances
As families live and invest across borders, many people are surprised to learn how differently Canada and the United States handle taxes when someone passes away.
(No Ratings Yet)Loading...Things to Know About Canada/U.S. Cross Border Taxation
If you’re a Canadian with ties to the United States, whether through work, investments, property, or family, your taxes don’t stop at the border. Understanding how cross-border taxation works is crucial to protecting your money and staying on the right side of both tax authorities.
(No Ratings Yet)Loading...Canadian Departure Tax: What You Need to Know Before Moving to the U.S.
Thinking of moving to the U.S.? Don’t forget about Canada’s departure tax – it can cost you thousands if you don’t plan ahead.
(No Ratings Yet)Loading...Tax Implications of Selling Your Business in Canada
Selling a business is one of the biggest financial decisions an entrepreneur can make. Beyond negotiating the right price, business owners need to carefully consider how the sale will be structured, since taxes can drastically affect how much money you actually keep.
(No Ratings Yet)Loading...Estate Planning in Canada: Avoiding Unnecessary Taxes for Your Heirs
Estate planning is about more than just deciding who will inherit your assets. In Canada, when someone passes away, the Canada Revenue Agency (CRA) treats their assets as if they were sold at fair market value the day before death. This is called a “deemed disposition”, which can create a significant tax bill for your … Continue reading Estate Planning in Canada: Avoiding Unnecessary Taxes for Your Heirs
(No Ratings Yet)Loading...Free Online Tax Assessment
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