U.S & Cross Border Tax Archives

US Expatriation Tax

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

Overview of U.S. gift and estate taxes for Canadians.

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. tax implications for Canadians working or living abroad

Are you a Canadian resident who travels to the United States frequently? If so, it is important that you are aware of the “Substantial Presence Test”. This assessment is issued by the IRS and is used to establish the tax status of a non-resident. Calculations are based upon the number of days an individual intends … Continue reading

Certificate of Coverage for Americans Working in Canada

Are you a U.S. citizen working in Canada? Is the thought of double taxation making you sweat? No need to worry, Allan Madan will take you through vital information pertaining to double taxation surrounding social security.

Canadians Owning a Vacation Property in the US

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

Tax implications of sending U.S. workers to Canada.

What are the tax implications for sending US Citizens to Work in Canada? This is a loaded question and the cross border tax implications are complex. In this blog, I will highlight the most important ones.

Taxes for Canadians selling property in the U.S. explained.

Canadians are continuing to invest in the red hot real estate market. But what they don’t realize is the amount of taxes to be paid when the US situated property is eventually sold. In this blog, I will cover the basic taxes for Canadians selling property in the US.

Tips for Americans providing services in Canada.

Are you an American citizens performing services in Canada? Are you confused about your Canadian tax obligations? If the answer to these questions is yes, this blog is for you!

Tax implications for Canadians traveling to the U.S.

Are you a Canadian snowbird? Make sure you understand the tax implications for Canadians traveling to the U.S.

Withdrawing from IRA and 401(k) for returning Canadians.

Are a returning Canadian with an IRA and 401K? The tax man could be around the corner. Learn the best ways for withdrawing your IRA and 401K.

Avoiding U.S. estate taxes with a two-tier partnership.

US estate taxes can bring heavy and unwanted charges that can affect the money you have earned. Setting up a two tier partnership can save you millions.

Tax on dividends from U.S. companies to Canadian parents.

As the last part of the three installments on ‘Foreign Accrual Property Income’, this article will focus on the Canadian taxation of dividends from foreign affiliates and controlled foreign affiliates that earns passive income. If you own a Canadian company that receives dividends from a US or foreign subsidiary then this article is for you. … Continue reading

When is the US Personal tax filing deadline?

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

Overview of FATCA and its impact on U.S. residents in Canada

On February, 2014, the government of Canada and the U.S. has finalized the Foreign Account Tax Compliance Act (FATCA) which will come into effect on July 1, 2014. This agreement will provide the Internal Revenue Service (IRS) with better access to information about US residents’ foreign bank activities and means trouble for US residents who … Continue reading

Tax-efficient strategies for Canadians buying U.S. property.

This article will discuss the top 3 strategies used by Canadian investors when purchasing a U.S. property. The goals of these 3 methods are to: Minimize risk Minimize tax burden Maximize returns

Category: U.S & Cross Border Tax