Archive: June 2017

Canadians and US Real Estate Laws

Many Canadians dream about owning a property in the US for retirement or investment purposes or simply to escape winter. Regardless of the reason for owning US property, Canadians need to be aware of the rules and tax issues they are subject to when renting or selling such property. Rental Income If Canadians rent their US real estate for 15 days or more, they may have to file a US income tax return to report their rental activity. Rental income paid to Canadians is subject to a 30% US federal withholding tax. This amount is applied to gross rental income, […]

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