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...
by Brandon Davies | Jul 21, 2023 | Health Coverage & Insurance, Tax Planning
There is a lot of responsibility that comes with caring for a baby – emotionally, physically, and of course, financially. With inflation at record highs, affording the necessities in addition to taking time off work to care for your newborn can be a stressful...
by Nancy Zheng, B. Comm, CPA, CMA | Jul 21, 2023 | Tax Filing Requirements, Tax Planning
With the Canadian tax season now behind us, this is a good time to go over the newly released CRA trust reporting rules that will come into effect for the 2023 tax year. On December 15, 2022, Bill C-32, which enacted the enhanced trust reporting rules, received...
by Brandon Davies | Jul 21, 2023 | Tax Planning
Question from a Client: I currently live in Toronto and received a job offer in Houston, Texas. My wife and I are looking to relocate in the next 3-4 months. I’m worried about how much tax I’ll have to pay when I move. I asked my existing financial advisor, and they...
