Search Blogs

Renouncing Your U.S. Citizenship? – Count ALL Your Assets

Renouncing U.S. citizenship raises the issue of whether U.S. exit tax applies and what that calculation includes.
Read More

900,000 Canadian Bank Records Were Recently Sent to the IRS – What you Need to Know

November 15, 2019
Sharp increase in records sent to the IRS under the Canada-U.S. information sharing deal.
Read More

US Federal Income Tax – Gains on Sale of your Home Part 1

December 14, 2012

Generally, Canadians living in Canada are not subject to tax on gains from the sale of their principal residence. However, for a Canadian resident who is also a U.S. citizen or resident (including permanent resident or “green-card” holder and those meeting the “substantial presence” test), the same capital gain may be taxable on his or […]

Read More

US Persons Holding Non-U.S. Mutual Funds

November 20, 2012

U.S. citizens and lawful permanent residents (green card holders) who hold certain investments may unknowingly be subject to adverse US tax implications where the investments are characterized as investments in Passive Foreign Investment Companies (“PFICs”). PFICs include non-U.S. mutual funds and exchange traded funds (ETFs) which are typically organized as corporations or trusts in Canada. […]

Read More
Do NOT follow this link or you will be banned from the site!