by Nancy Zheng, B. Comm, CPA, CMA | Jul 22, 2024 | Featured, Featured, Tax Planning, Tax Planning
In my previous blog, (https://mcacrossborder.com/renting-out-your-property-as-a-non-resident-of-canada), I discussed the tax compliance rules around renting out your property in Canada as a non-resident. In this blog, I would like to continue this discussion by...
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 Jonah Ravel B.A., F.Pl., CFP® (Canada), CFP® (US) | Feb 14, 2024 | News, Tax Planning
Canadians moving to the U.S. often ask about tax saving opportunities which await them as future U.S. residents. One such opportunity available to U.S. residents that we love explaining due to the powerful tax benefits it provides is the Health Savings Account or...
by Sherry Zheng CPA (Delaware), MTax | Dec 22, 2023 | News, Tax Planning
The 2023 federal budget announced significant changes to the Alternative Minimum Tax (AMT) regime to better target the AMT to high‑income individuals. On August 4, 2023, the Department of Finance released draft legislative proposals to modify the AMT regime, effective...
by Jonah Ravel B.A., F.Pl., CFP® (Canada), CFP® (US) | Jul 21, 2023 | News, Tax Planning
With skyrocketing mortgage interest rates upon us, now may be an opportune time for a refresher on the cross-border differences in mortgage interest tax deductibility in Canada and the U.S. Canadian Rules There’s a reason why Canadians are famously averse to mortgage...
by Sherry Zheng CPA (Delaware), MTax | Apr 4, 2022 | News, Tax Planning
What You Can Do if the Federal Government Increases the Capital Gains Rate in 2022 Introduction Although the Canadian government has considered raising the capital gains rate in previous years and declined to do so, some are speculating that increasing debt, campaign...
