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Tax Residency. Why It Matters and How It Is Determined.

Your tax residency, in Canada or the United States, determines whether the CRA or the IRS has the power to tax you on your worldwide income or at least who gets to tax you first. There are significant tax differences between Canada and the U.S. Those differences create tax opportunities and problems.  Which tax laws apply can have a major financial impact, and if you get it […]

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Renunciation of U.S. Citizenship. What You Need to Know.

May 27, 2020

Renunciation of U.S. Citizenship is frequently motivated by a desire to reduce complexity of personal financial affairs and costs of complying with U.S. tax law. There are immigration and significant tax issues that should be considered, and plans that may need to be put in place before you take action. To give you a starting […]

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COVID-19 U.S. and Canadian Small Business Subsidies – A Comparison

April 6, 2020

Canada and the U.S. recently created multiple financial assistance programs for businesses and individuals to address the economic challenges during the COVID-19 pandemic. Details continue to emerge in the beginning of April.  We have been working with our clients who have business interests on both sides of the border to determine eligibility and application requirements. […]

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COVID-19 Pandemic: Assorted U.S. Corporate and Business Tax Relief Provisions

April 3, 2020

With the spread of the global COVID-19 pandemic to the U.S., and the resulting impact it has had on the U.S. economy, the U.S. Congress has responded by passing numerous tax law changes to assist small businesses and individuals. Although there are many changes that have been enacted, the following is a general summary of […]

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