Search Results for: Top 5 Tax issues
...years. Personal Income Tax Measures There are no proposed changes to personal income tax rates for 2025. The income tax rates for the 2025 taxation…
...to identify issues and initiate their resolution Desire to work in U.S. and cross-border taxation and develop technical skills The ability to organize complex information…
...taxable for U.S. tax purposes. Withdrawals from a TFSA are not taxable in either Canada or the U.S. Canada will not tax income and gains…
...US tax law. The Canada-U.S. tax treaty exempts Canadians from US tax for certain activities conducted in the U.S., but it still requires those claiming…
...U.S. tax obligations. Similarly, abandonment of a green-card, either voluntarily or involuntarily may have the same U.S. tax obligations. Navigating the intricate world of taxes,…
...BC Speculation and Vacancy Tax https://ca.andersen.com/blog/british-columbia-speculation-and-vacancy-tax-976/ January & March 2023 Blog – Canadian Federal Vacancy Tax and Update https://ca.andersen.com/blog/canadas-underused-housing-tax/ https://ca.andersen.com/blog/canadian-vacancy-tax-update/ November 2023 has seen more…
...budget contains no new tax or any changes to tax legislation. Personal Income Tax Measures: There are no proposed changes to personal income tax rates…
...Personal Income Tax Measures There are no proposed changes to personal income tax rates for 2024. The income tax rates for the 2024 taxation year,…
...of U.S. tax returns and forms, and a plan to integrate the results with your Canadian tax returns. Tax advisors in the U.S. often provide…
...the IRS. Once contacted by the IRS, a tax filing is no longer voluntarily. The IRS has provided alternative tax filing strategies for delinquent U.S.…
...their U.S. retirement plan without recognizing taxable income for either U.S. or Canadian tax purposes and get a charitable contribution deduction for Canadian tax purposes.…
...market value of the property, often resulting in a much higher tax liability than Canadian taxation on the unrealized gain at death. Under current US…
...be claimed as foreign tax credit on the U.S. federal income tax return to reduce or eliminate U.S. federal income tax on the income so…
...challenges. Job description Reporting to the Partners of the firm, the Tax Manager is responsible for compliance and planning tax mandates including but not limited…
...have Canadian tax advantages. Tax-Free Scholarship Income Students from Canada attending U.S. schools generally remain Canadian income tax residents and are taxable in Canada on…
...rental properties. This blog summarizes recent changes to these taxes. Federal Announced in the 2021 budget, the Canadian federal Underused Housing Tax applies a 1%…
...environment in the coming years. Personal Income Tax Measures: The income tax rates for the 2024 taxation year, based on your taxable income, are as…
...interests in both the U.S. and Canada. Topics: Tax Residency Rules Canadian Departure Tax Tax Treaty Overview Payroll and Withholding Issues Tax Return Filing Requirements…
...the single document being signed into law next week. Mary Duffy at Andersen provides some detail at the link below: https://www.andersentax.com/pressroom/republicans-reach-deal-on-tax-plan-final-votes-expected-next-week Some quick highlights of…
...address the U.S. tax issues and filing requirements can, at a minimum, delay the distribution of assets to beneficiaries but more seriously result in unexpected…