U.S & Cross Border Tax Archives

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.

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.

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.

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.

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.

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.

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.

First Year U.S. Tax Issues for Canadians | Cross Border Tax Mississauga

First Year U.S. Tax Issues for Canadians Moving to the U.S. More Canadians are crossing the border to live in the U.S. than ever before, whether for career growth, business opportunities, education, or family. While the excitement of a new chapter is undeniable, moving to the U.S. means stepping into a very different tax system … Continue reading

Ultimate Guide to Cross-Border Tax for Canadians and Americans

Managing taxes is already complex – add international borders to the mix, and it becomes even more challenging. Whether you’re a Canadian investing in the U.S., an American living in Canada, or a snowbird splitting time between both countries, you need to understand how tax laws on both sides of the border affect you.

Doing Business in the U.S. for Canadian Companies

Chapter 1: Introduction The United States is the world’s largest economy and most dynamic consumer market, making it an attractive destination for Canadian companies seeking expansion. With strong bilateral trade, close geography, a shared language, and cultural familiarity, the U.S. is a natural next step for Canadian entrepreneurs. However, entering the U.S. market requires a … Continue reading

Changing how you use property? Here’s how to save on taxes

When a Canadian taxpayer changes the use of a property from personal use (such as a principal residence) to income-producing use (such as a rental), or vice versa, the Income Tax Act may trigger a deemed disposition at the property’s fair market value.

Cross Border Tax | Tips for Americans Moving to Canada

Are you planning a move from the United States to Canada? Congratulations – but along with your big move comes a web of complex tax implications that many Americans aren’t prepared for. Expert cross-border tax accountants from Madan CPA understand how overwhelming this can be. This guide highlights key tips every American moving to Canada … Continue reading

How to Manage Canadian-Source Income as a Non-Resident

Navigating the complexities of international tax can be daunting, especially when transitioning to non-residency status from Canada. Many individuals choose to become non-residents for various personal and financial reasons, seeking opportunities and advantages beyond Canada’s borders. However, it’s crucial to understand that severing physical residency does not necessarily eliminate all Canadian tax obligations.

The Impact of US Tariffs on Canada’s Economy

The ongoing trade dispute between the United States and Canada – in which leaders of both countries are imposing, or threatening to impose, tariffs on key goods – has left Canadians and business owners feeling unsettled about the economy. While the immediate impacts are evident in rising costs and uncertainty, the long-term consequences may force … Continue reading

An Accountant’s Tips for Cross Border Real Estate Investing

Investing in U.S. real estate offers a wealth of opportunities, from generating passive income to building long-term wealth. However, for Canadian investors, understanding the tax implications and choosing the right investment structure is critical. By strategically planning your investments with the help of a cross border accountant, you can navigate these complexities and make informed … Continue reading

Category: U.S & Cross Border Tax