5 Common Expat Cross-Border Tax Return Errors
In this episode of Crossing the 49th, Newsglobal from Beacon Hill Wealth Management discusses the top 5 tax return mistakes expats make when filing U.S. and Canadian returns.
From form 2555 errors to foreign tax credit issues, Phil covers the key pitfalls and how to avoid them for a smoother tax season.
Key Topics:
- Incorrect use of form 2555 for foreign earned income
- Reporting worldwide income on both U.S. and Canadian returns
- Proper handling of Social Security income
- Errors with foreign tax credit forms (1116)
- Why it’s best to file both returns through the same firm
If you have any questions about this topic or need advice on other cross-border tax or investment matters, feel free to contact Phil at phil@newsglobal.ca.
You can also take advantage of our complimentary tax consultation by visiting: https://chat.newsglobal.ca/o/c0b2f5c6
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Disclaimer: The information contained in this Podcast and YouTube video is for information purposes only and should not be construed as tax or financial planning advice. Tax and financial planning rules change from year to year and the information contained within may be outdated. Ensure to engage an experienced and competent tax and financial planner to help you with your tax and financial planning needs.