Renouncing U.S. citizenship is a significant decision with wide-ranging implications.  Renunciation may have adverse U.S. tax implications. This blog will break down the tax complexities surrounding the renunciation process and provide you with an essential understanding without getting lost in the jargon. Who is a Covered Expatriate? A covered expatriate includes individuals who renounce their […]

INTRODUCTION Capital gains are distinguished from other types of income for both Canadian and U.S. tax purposes. Often, capital gains are taxed at a lower effective rate than ordinary income, and in some cases they are exempt from tax altogether. Taxpayers should consider how these preferential rules could apply to their situation.  Capital transactions can […]

The Corporate Transparency Act (CTA), enacted by the U.S. Congress on January 1, 2021, is designed to strengthen the integrity of the U.S. financial system. It establishes new U.S. reporting obligations for certain types of corporations, which will take effect on January 1, 2024. Non-U.S. or foreign corporations may be subject to this reporting rule […]