Pierre, a client of ours from Quebec, came to us with a problem. He owned a condo in Florida, and since Micheline recently passed away, he did not want to go to the vacation home anymore and wanted to sell it. The title ownership was in Micheline’s name alone, but her Quebec notarial will left [...]
For whatever the reason, each and every day people make the decision to move away from their native country to pursue a life elsewhere. Whether it is a dual citizen looking to give up their passport of one country, or someone looking for a fresh start, the tax implications of being an expatriate are a complicated [...]
This year, Altro & Associates was proud to be present as a Platinum/Platine sponsor at the Bal Réseau Sélection in a night to honour their residents. It was a lovely event with dinner, dancing and entertainment that we are happy to participate in. The event supports many charitable causes in the Montreal area, for which we [...]
David A. Altro has been a proud member of STEP since 2006 and was very pleased to participate in a 60-second interview with the organization when he was asked to be a featured member in one of their October 2012 STEP Journal newsletters. You can read David’s answers below or see the STEP newsletter online for [...]
US citizens who live in Canada are liable for US gift and estate tax on their worldwide assets, even if they have never actually lived in the US. This means that assets transferred during life or on death are taxed by the IRS at rates of up to 35%, subject to certain annual and lifetime exclusions. [...]
Due to the continuing uncertainty regarding U.S. estate tax rules for Canadians who pass away owning U.S. real estate in their names personally, you may find interesting the below article published in The New York Times on August 1, 2012. The House approved a one-year extension to the Bush-era tax cuts but it is unlikely that [...]
David A. Altro is a frequent contributor to Paul Delean's business column in the Montreal Gazette, please scroll down to read David's answers from Paul Delean's article on tax strategy. Tax Strategy: Canadian working abroad must still pay tax here PAUL DELEAN The Gazette Monday, July 30, 2012 Taxes on overseas income and on a U.S. [...]
Being an American citizen is, for many around the world, a highly sought after position. Some might call it a gift, though I doubt the United States IRS would classify it that way. In fact, for the IRS, American citizenship is only one half of the bargain. At least, this appears to be the mindset behind [...]
We are pleased to announce that Altro & Associates, LLP returned as a Champion Court Sponsor of the 5th Annual RBC Squash Crohn’s Tournament. The event was held on Sunday, May 20th, 2012 at Midtown Le Sporting Club Sanctuaire in Montreal. Squash Crohn’s was joined by squash legend and world champion squash player Jonathon Power, who [...]
Canadian departure tax: obstacle or opportunity? By David A. Altro, B.A., LL.L, J.D, D.D.N, Fin. Pl., TEP and Matt Altro, B.Comm., CFP®, F. PL. Canadians move to the US for a variety of reasons. Proximity to family, lifestyle, sunny weather, employment, health issues and lower income tax rates are some of the more popular reasons. If [...]
