Steven Flynn, CPA, CA, CPA (Washington), Author at Andersen in Canada

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IMAGE - US Education Savings Plans for Residents of Canada

Tax Advantages for Canadian Students Attending U.S. Universities

Steven Flynn, CPA, CA, CPA (Washington) 01/07/2022

Thousands of Canadian students pursue their post-secondary studies in the U.S. each year. The cost of attending a U.S. university is generally higher than Canadian schools. Scholarships that U.S. schools offer can have Canadian tax advantages. Tax-Free Scholarship Income Students from Canada attending U.S. schools generally remain ...

Canadian COVID-19 Guidelines – International Tax

Steven Flynn, CPA, CA, CPA (Washington) 04/06/2021

On April 1, 2021, Canada Revenue Agency (“CRA”) updated its guidance with Part VII – Supplemental Guidance[1] which provides further relief from Canadian residency and Canadian permanent establishment for certain non-residents of Canada and businesses by extending the relief period to December 31, 2020. The updated ...

Top 5 Tax Issues: Canadians with U.S. Vacation Property

Steven Flynn, CPA, CA, CPA (Washington) 11/13/2020

Many Canadians own U.S. vacation property and look forward to winter when they can spend time in their sunny second homes. Canadians that own U.S. real property need to understand the U.S. and Canadian tax issues on the rental or sale of their property. This article ...

Canadians Selling U.S. Vacation Property

Steven Flynn, CPA, CA, CPA (Washington) 08/12/2020

Canadians that own U.S. vacation property look forward to winter when they can spend time in their sunny second homes. The Covid-19 pandemic has dramatically changed plans for those not willing to put themselves and their families at risk by travelling to the U.S. Some ...

Canadian Investment in the U.S.: Entity Choices

Steven Flynn, CPA, CA, CPA (Washington) 08/04/2020

In a recent video, we review the legal entities available for investing in the United States, including LLPs, LLCs, S, and C corporations. Each of these entities has different tax implications in Canada and the United States that help determine whether they are advantageous or ...

U.S. Federal Corporate Income Tax and Canadian Businesses Operating in the United States. What You Need to Know.

Steven Flynn, CPA, CA, CPA (Washington) 06/17/2020

In our latest video, Andersen partner Steven Flynn provides insights on the impact of U.S. federal corporate income tax for Canadian businesses operating in the United States. The video illustrates that there is now more flexibility for Canadian businesses seeking to do business in the ...

COVID-19 U.S. and Canadian Small Business Subsidies – A Comparison

Steven Flynn, CPA, CA, CPA (Washington) 04/06/2020

Canada and the U.S. recently created multiple financial assistance programs for businesses and individuals to address the economic challenges during the COVID-19 pandemic. Details continue to emerge in the beginning of April. We have been working with our clients who have business interests on both ...

IRS Assistance With Estate Taxes For International Filers

Steven Flynn, CPA, CA, CPA (Washington) 03/02/2020

Last fall, the Internal Revenue Service created a series of frequently asked questions on estate taxes for international tax filers. They addressed situations where descendants are non-residents and non-citizens of the U.S. at death but may have U.S. federal estate tax and filing obligations. A ...

IRS Amnesty Programs Are Closing Soon. What You Need to Know.

Steven Flynn, CPA, CA, CPA (Washington) 01/23/2020

Explanation of IRS Amnesty Programs The Internal Revenue Service offers amnesty programs for individuals, corporations and other entities who fail to timely file certain U.S. federal income tax returns and forms pay applicable taxes. Participating in these programs allows taxpayers to correct delinquencies while minimizing ...

Renouncing Your U.S. Citizenship? – Count ALL Your Assets

Steven Flynn, CPA, CA, CPA (Washington) 11/19/2019

Canadians with U.S. citizenship continue to review its benefits and costs. Its benefits include unlimited access to work and travel to the U.S. while its costs include the application of complex U.S. tax laws and requirement to file annual U.S. federal income tax returns to ...

The member firms of Andersen in Canada focus on Canadian, international and Canada-U.S. cross-border tax matters. With offices across Canada, our tax professionals work with a broad range of businesses and individual clients to develop innovative tax solutions for a diverse range of issues. Our senior leaders and many of our professional staff have extensive experience in Canadian, international, U.S. and cross-border tax matters with major international accounting firms, as well as practical experience working with businesses and individuals.