Tip: Self-Employment Tax (US)
So here’s a quick comment on something that I see often: As a US citizen, you have to declare 100% of your worldwide income. This
Coming Back To Canada? = Cost Base Adjustment
When a person moves out of Canada and becomes a non-resident, Canada’s Income Tax Act has a rule that comes into play, known as the
Form 8938 Basics
Form 8938 is a form that you might need to fill out if you have certain financial assets located outside of the United States. If
FBARs/FinCEN 114 Crash Course
FBAR stands for Foreign Bank Account Report, and it’s a form that U.S. taxpayers may need to file if they have certain foreign financial accounts.
“But CRA Said…”
So this is a fun one. Well I called CRA and they said… I know this might be a shocker, but CRA is known to
So You Want To File An FBAR?
Straight to the point today: Here’s some tips on completing your FBAR filings: Keep detailed records of all foreign financial accounts: to accurately complete the
FIRPTA stands for Foreign Investment in Real Property Tax Act, and it’s a U.S. tax law that applies to non-U.S. persons who sell U.S. real
Dual Status and TN Visa
So, you have your shiny new TN status, and you’re off to live the American Dream. See you later Snow and Hockey and Plaid and
So a nifty case came out of TCC in October (Burke V. The King). This is hugely summarized (and probably written poorly.) But here we
New TFSA Limits Are Out
CRA has updated the 2023 TFSA contribution limit (among other things.) See the list here. What you need to know: 2023 limit is $6,500.