by Madhuri Bhat | Jun 28, 2024 | Featured, Featured, Tax Filing Requirements, Tax Planning, Tax Planning
The Tax Cuts and Jobs Act (TCJA), passed in 2017, reshaped the U.S. tax system significantly, affecting numerous individual U.S. taxpayers. However, it’s essential to recognize that many of these changes weren’t permanent. Several TCJA provisions are...
by Brandon Davies | Apr 29, 2024 | Tax Planning
If you’re a US citizen who has relocated to Canada and still maintain US real estate, there are a lot of interweaving tax considerations on both sides of the border that you must contend with when you plan to eventually sell the property. In today’s blog, we are going...
by Nancy Zheng, B. Comm, CPA, CMA | Feb 14, 2024 | Tax Filing Requirements, Tax Planning
Predicting the housing market is already challenging due to interest rate fluctuations and other factors. Throw non-residency into the mix, and for someone departing Canada, it becomes a complicated decision whether to maintain one’s principal residence or to rent it...
by Madhuri Bhat | Dec 22, 2023 | Tax Filing Requirements, Tax Planning
What is the Net Investment Income Tax (NIIT) and when was it introduced? The Net Investment Income Tax (NIIT) is a surtax that the IRS applies in addition to regular income taxes. It applies to U.S. taxpayers with higher incomes who have certain types of passive...
by Brad Hemphill | Oct 20, 2023 | News, Tax Planning
As a US resident contemplating a potential move to Canada, there are many moving pieces that may factor into your decision-making process. One of the key considerations in any move, especially one that involves a new country of residence, is where you’re going to...
by Jessica Lachance | Jul 25, 2023 | Retirement Planning, Tax Planning
US citizens living in Canada or those who worked in the US in the past and later moved to Canada often have Roth IRAs. They may wonder what the impact is of contributing to their Roth IRA as a Canadian resident. After all, it is quite possible for a Canadian resident...
