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Renunciation of U.S. Citizenship

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 […]

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Blog – U.S. and Canadian Capital Gains

July 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 preferential rules could apply to their situation.  Capital transactions can […]

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Beneficial Ownership Information Reporting

July 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. or foreign corporations may be subject to this reporting rule […]

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Canada Federal Budget 2023 Highlights

April 3, 2023

Prepared by Andersen in Canada, Montreal Partner Danny Guérin with support from Kiran Younas On the 28th of March 2023, Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, presented Budget 2023 entitled “A Made-in-Canada Plan: Strong Middle Class, Affordable Economy, Healthy Future”. The Budget 2023 announces new measures to make sure that the very wealthy […]

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