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Renunciation of U.S. Citizenship

Andersen 08/29/2023

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 ...

U.S. and Canadian Capital Gains

Andersen 07/28/2023

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 ...

Beneficial Ownership Information Reporting

Andersen 07/13/2023

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. ...

Namir Hallak writes an article for Maple Business Council

Namir Hallak 06/16/2023

Our Partner, Namir Hallak, has written an article for Maple Business Council titled ‘Expanding Your Canadian Business to the U.S. : Cross-Border Tax‘ Expanding your Canadian business to the United States unveils an exciting growth opportunity that requires a well-planned roadmap. This article aims to ...

Underused Housing Tax – Affects Canadians Too

Steven Flynn, CPA, CA, CPA (Washington) 03/28/2023

Canada’s new Federal Underused Housing Tax (“UHT”) is in effect for owners of Canadian residential properties as of December 31, 2022. Originally intended for non-Canadian owners, some Canadian citizens and permanent residents (“Canadians”) may be subject to this tax unless they timely file UHT tax ...

Taxes for U.S. Citizens Resident in Canada

Andersen 02/27/2023

Taxation Based on Citizenship U.S. citizens resident in Canada are taxable on their worldwide income in both countries. The real question is which country gets to tax it first, which country gives a credit for the other country’s tax and what happens when both countries ...

Investing Strategies for U.S. Citizens Resident in Canada

Andersen 02/21/2023

U.S. persons (U.S. citizens, green-card holders and residents under U.S. tax law) resident in Canada are taxable in both Canada and the U.S. on their worldwide income. This blog summarizes some of the related complexities and potential solutions. Canadian Mutual Funds and ETFs U.S. tax ...

Canadian Vacancy Tax Update

Steven Flynn, CPA, CA, CPA (Washington) 01/09/2023

Real estate prices have increased rapidly over the last decade putting pressure on communities to provide housing solutions for families. More jurisdictions are implementing taxes to turn vacant homes into rental properties. This blog summarizes recent changes to these taxes. Federal Announced in the 2021 ...

U.S. Employees Working Remotely in Canada

Andersen 12/20/2021

Before the pandemic, working remotely was relatively limited. Today it is common for employees to work remotely, and many prefer it. Because of the risks of transmission of the COVID-19 virus, many employers require their employees to work remotely. In certain cases, employees are restricted ...

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 ...

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.

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