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CPA Magazine – Taxing challenge for US expats
Jonah Z. Spiegelman and Matt C. Altro recently co-authored an article which appeared in the CPA Magazine's August edition. In the article, Jonah and Matt provide a review of the tax filing obligations for US [...]
The Lawyers Weekly – Be aware of dual jurisdiction when buying in U.S.
David A. Altro and Jason S. Ansel recently co-authored an article which appeared in The Lawyers Weekly in the October 10, 2014 edition. In the article, David and Jason explain the primary issues that Canadians [...]
Corporate Relocation: Managing Tax Residency Risk
In our globalized world, corporate relocation of employees between Canada and the U.S. is becoming more common. Mobilizing talent across borders is often a key strategy for companies hoping to maximize their human resources, but compliance with laws on both sides of the border can be challenging. Luckily, by considering tax and estate planning issues before an employee moves, the risks of relocation can be mitigated. Tax Residency A central issue is tax residency. Canadian income tax is based on residency, while the U.S. generally taxes its citizens on their worldwide income even if they are non-residents. Resident aliens (non-citizens) of the U.S. are also taxed on worldwide income, as if they are U.S. citizens (non-resident aliens are typically only taxed on their U.S.-source income). […]
US expats in Canada, the IRS is eyeing your RRSPs
David A. Altro and Jonah Z. Spiegleman’s book Americans in Canada – Smile the IRS is Watching You! has been excerpted in The Globe and Mail twice, most recently last week. The excerpt is a [...]
Advisor.ca – Client caught in cross-border trap
Matt C. Altro and Jonah Z. Spiegelman were recently interviewed by Dean DiSpalatro from Advisor's Edge to analyze a case study about cross-border traps. The analysis was published in the June edition of the Advisor's [...]
The Montreal Gazette – Tax Strategy: Expert Tackles Cross-Border Queries
David A. Altro is a regular contributor to Paul Delean's business column in the Montreal Gazette, please scroll down to read David's answer to three reader questions. Tax strategy: Expert Tackles Cross-Border Queries PAUL DELEAN [...]
Good Life Connoisseur – Snowbirds Looking to Nest in the U.S.A.
David A. Altro was asked to write an article for the Good Life Connoisseur magazine, which appeared in the magazine's Spring 2014 Edition on page 32. In the article, David explains the key tax and [...]
Advisor.ca – Reduce taxes for Canadians with U.S.-resident children
David A. Altro and Jonah Z. Spiegelman recently co-authored an article which appeared on Advisor.ca and is scheduled to appear in the April or May 2014 edition of Advisor’s Edge magazine. In the article, David [...]
The Future of FATCA in Canada: Pros and Cons of the IGA
The U.S. Foreign Account Tax Compliance Act, more commonly known as FATCA, was passed in 2010. FATCA requires foreign financial institutions (“FI”s) to report on the account information of U.S. citizens and residents (including dual citizens) to the IRS starting in July 2014. Although the requirement to report directly to the IRS violated Canadian privacy laws, there were withholding tax consequences for non-compliance with FATCA. The uproar in Canada over the privacy issue and the financial costs of implementing FATCA led to the signing of an intergovernmental agreement [“IGA”] between Canada and the U.S. on February 5, 2014. […]
Financial Post – The warm and fuzzy feeling of an estate freeze
David A. Altro was recently interviewed by Drew Hasselback for an article which appeared in the Financial Post section of the National Post. In the article, Drew asks David about the benefits of an estate [...]