As the calendar changes to 2015, both the Internal Revenue Service and Canada Revenue Agency have changed or left unchanged certain amounts and figures. Below are some of the revised amounts, numbers and limits for the year 2015 relevant to U.S. citizens resident in Canada. Changes to Certain Cross-Border Tax Amounts for 2015 Item New […]

The answer is, you can stay in the U.S. as long as you want to, but there may be tax consequences to how long you stay there. There is widespread confusion about residency which isn’t surprising. The word, “residency” is interpreted differently depending on whether you are talking about tax, immigration, health insurance, etc. Even […]

If you are a U.S. citizen living abroad, you have undoubtedly heard about some of the U.S. tax issues and challenges associated with Canadian mutual funds and exchange traded funds (“ETFs”) which are generally considered to be “passive foreign investment companies” (“PFICs”). If you have not heard, or would like a refresher on the topic, […]