How to File US Tax Returns in Canada (Ultimate Guide updated for 2023) Key Points U.S. citizens and green card holders living in Canada must file U.S. tax returns annually, regardless of residency. The Foreign Earned Income Exclusion and Foreign Tax Credit can help avoid double taxation on income earned in Canada. Filing U.S. tax…
Does the Tax-Free First Home Savings Account (FHSA) work for Americans in Canada? Key Points The Tax-Free First Home Savings Account (FHSA) offers Canadian residents tax-free savings for their first home purchase. U.S. citizens in Canada may face U.S. tax reporting and potential taxation on FHSA contributions and earnings. The FHSA is not recognized under…
Cross-Border Tax and Investment QA – Episode 6 Note: apologies for the audio quality on this one. It will be fixed on the subsequent podcast. On episode #6 of Crossing the 49th Podcast we walk through some common cross-border tax and investment questions that clients have. Question 1: How do I report my US IRA…
Citizenship Based Taxation is not going Away, but these 5 Changes Would Change the Game (for the better) Many Americans living abroad have been advocating aggressively for the repeal of Citizenship based taxation (CBT). These advocates argue that the rules that tax US citizens abroad are unfair and overly punitive. Although I do not entirely…
Retiring to Victoria BC from California – Need Tax and Investment Advice Question Hello I found information online when I was doing my research. My wife and I are in the process of planning our move from San Diego to Vancouver Island some time later this year. We won’t need help with taxes and investment…
Ask your Cross Border Tax Questions Here… I’ve started this post to help those having trouble answering their Canada-US cross border expat tax and financial planning questions. Please leave your question in the comments and we’ll do our best to help answer. Also don’t forget to keep current on cross border tax and financial planning…
Can I Extend my US 1040 Income Tax Return Past October 15th? Question I’m a US citizen living in Canada that has yet to file his US tax return. I was told by a friend that I could have until December 15th, 2017 to file my return. However I can’t find any information online about…
Question Related to non-resident property sale by American Dear Mr. Hogan, I seek your guidance. I am currently on XXXXXXXX and once the international ferry starts up again after 4 November, I could come to your Victoria office. Or perhaps you do consults by phone, email and FAX. I need: 1) a determination of my current…
If Trump Wins I’m Moving to Canada! – But What About Taxes? Not many thought he could get this far through the election cycle, but as Donald Trump secures the Republican nomination many Americans are seriously considering a long-term move to Canada. Unfortunately for most Americans a move to Canada may not be as simple…
New US Citizen in Canada video just posted! Hi everyone Just uploaded a new video to youtube explaining some requirements for US expats. Hope you enjoy!
Common Questions Asked By US Citizens in Canada – FATCA and Tax Related We get a lot of tax and FATCA (Foreign Account Tax Compliance Act) related questions and I wanted to take the opportunity to outline some of the most common questions in an effort to help anyone who may have similar questions about…