Here Are 10 Tips To Help Make The Transition Smoother! Whether you are relocating to a new city for experience or a job, migrating from the United States of America to Canada is not as easy as you think. There are multiple factors to take into consideration when planning your move to Canada. Our guide … Continue reading Migrating to Canada from the United States?
Authors: Kul Makkar, Tan Garg (International Tax Advisors Canada) How would you determine that the price at which you are selling goods or services to your US subsidiary or branch is acceptable to both Canadian and US tax authorities? Essentially, any transaction between a related Canadian and overseas enterprise must successfully pass the test of arm’s … Continue reading Transfer Pricing – Concept and Procedures
As a Canadian, are you aware of the tax consequences of selling your US real estate properties? Most Canadian’s aren’t, even though they are buying US real estate more so than ever before. Read further to understand the tax implications of Canadians selling US properties. 15% Withholding tax As a Canadian or a non-resident of … Continue reading Tax Implications for Canadians selling US property, real estate
Expatriation tax is imposed on individuals who renounce their U.S. citizenship and certain long-term U.S. residents who terminate their residency status. This tax regime was introduced in 1966 and has been subsequently amended many times. The most current version of this tax regime is outlined in the Heroes Earnings Assistance and Relief Act (HEART) of … Continue reading US Expatriation Tax
If you are a Canadian citizen who has properties you want to give away in the United States, and if you know anyone who is deceased and thinking of transferring property, you may want to know about the tax implications surrounding how U.S. gift tax and estate tax affects Canadians. U.S. gift tax system creates … Continue reading U.S. Gift and Estate Taxes for Canadians
This article focuses on the tax implications when a Canadian gets rid of a vacation property in the US. Ridding of a property can be taken in two forms: 1) Selling the vacation property or 2) when the taxpayer passes away while having ownership of the property. Selling the vacation property: Once the vacation property … Continue reading Canadians Owning a Vacation Property in the US
Are you confused about the US Tax Return Filing Deadline? You are not alone. Because of its size and complexity, the US system can be source of great confusion for those filing personal income returns. This is especially true for residents and citizens who recently moved out of the U.S., who are used to filing … Continue reading When is the US Personal tax filing deadline?
Canadians conducting business in the United States must be aware of potential sales tax responsibilities. In addition to Federal and State income taxes, businesses in the US may be required to collect and remit sales taxes to State or Municipal governments. What do I need to know about Sales Tax in the United States? Sales … Continue reading Sales tax in the United States