Tip: Self-Employment Tax (US)
- March 29
- cware
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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
- March 23
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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
- March 10
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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
- February 18
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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…”
- February 01
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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?
- January 25
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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 Basics
- January 13
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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
- January 06
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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
Necessary Evil
- November 21
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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
- November 16
- cware
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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.