Tag: us and cross border tax

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Under Canada and US tax rules, funds withdrawn from an IRA or 401K are taxed as income in year of withdrawal. The amount withdrawn must be included as income on your Canadian tax return.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 Watch Video

Before we go ahead with the rest of the article, here’s a little introduction.

Americans Working in Canada and Taxes Watch Video

Are you an American working in Canada? Consider the major tax consequences that will directly affect you!

Tax Implications for US Companies Expanding to Canada Video

Many American companies today are looking towards Canada as one of the primary destinations

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