Cross Border Tax Issues
Another Form to File for Americans Living in Canada
Author: Brad Howland
First Posted: Dec. 8, 2014
U.S. citizens and resident aliens who have funds in a Canadian “Passive Foreign Investment Companies” (PFICs) are now required to file an information return with the IRS: Form 8621 Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. Canadian mutual funds and certain other investments are considered PFICs and Form 8621 should be filed to report them.
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Transferring a Home to a Nonresident Alien Spouse
Author: Brad Howland
First Posted: June 12, 2014
U.S. citizens living abroad, who jointly own a home with a nonresident alien spouse, might seek to avoid paying tax to the United States when the home is sold or eventually disposed of (if their interest in the home shows a gain of more than $250,000), by transferring their portion of the home to their spouse in advance. The IRS made a subtle change to the 2012 version of Publication 523, which implies they might frown upon a tax free transfer.
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Should TN Visa Holders in the United States File Form 1040 or 1040NR?
Author: Brad Howland
First Posted: Feb. 22, 2011
TN status is a non-immigrant visa category that permits Canadian and Mexican citizens in certain occupations to live and work in the United States. The fact that it is a temporary visa allowing for long-term residency can make it difficult to decide which U.S. tax form to file.
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Canadian Treatment of U.S. Roth IRA's is Changing
Author: Shelagh Rinald, CA, CFP, TEP
First Posted: Feb. 10, 2011
Canadian residents with US Roth IRA accounts have until April 30, 2011 to elect to defer the Canadian taxation of the income earned within the account.
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How to Avoid Double Taxation of Investment Income for U.S. Citizens Living in Canada
Author: Brad Howland
First Posted: Sept. 3, 2009
U.S. citizens in Canada who earn investment income from U.S. sources can use a worksheet in IRS Publication 514 to avoid double taxation of that income.
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Requirement to File Form TD F 90-22.1 for U.S. Persons
Author: Brad Howland
First Posted: Sept. 3, 2009
U.S. persons are required to file Form TD F 90-22.1 every year they own, or have an interest in, foreign financial accounts where the combined balances exceed $10,000 at any time during the year.
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NR4/NR6 Reminder
Author: Brad Howland
First Posted: Jan. 2, 2009
Canadian nonresidents who own Canadian rental property: everything needed to prepare for your Section 216 tax return is available to download on Canada Revenue Agency's website.
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Documenting the IRS Six Year Policy
Author: Brad Howland
First Posted: Dec. 30, 2008
U.S. citizens residing in Canada and not filing U.S. returns can catch up by filing the previous six years.
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Avoiding Double Social Security Coverage
Author: Brad Howland
First Posted: Dec. 30, 2008; Last Update: Aug. 17, 2021
Self-employed U.S. Citizens residing in Canada can find themselves paying a lot more tax than they should, due to the need to pay into both the Canada Pension Plan (CPP) and U.S. Social Security on their earnings. Fortunately, there is a way to avoid this problem with a little paper work.
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Cross-border Shopping for Christmas
Author: Brad Howland
First Posted: Nov. 11, 2007
The Canada Border Services Agency website indicates how much Canadian residents returning to Canada can bring back from the United States duty-free. American Consular Services provides the same information for U.S. residents.
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The "Taxing" Situation When Non-Residents Sell Canadian Real Estate
Author: Brad Howland
First Posted: Oct. 10, 2007
If you are a Canadian non-resident, and you sell rental property located in Canada, there is an demanding set of rules you must follow to meet your tax obligations to Canada.
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How United States S-Corporations are Taxed by Canada
Author: Brad Howland
First Posted: Aug. 18, 2007
A client of mine, a US citizen living in Canada, would normally have a straightforward situation except for one thing: he is a shareholder in a United States S-Corporation (or S-Corp). My client faces double taxation, as we shall see, and he can't use corporate losses to offset other income on his Canadian tax return.
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U.S. Gambling Tax Recovery
Author: Brad Howland
First Posted: Jan. 2, 2007
Canadians who gamble in the United States may find that 30% of their winnings are withheld to cover U.S. non-resident's tax. Under certain circumstances, this tax can recovered by filing a U.S. tax return.
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How to Transfer U.S. Pensions into Canadian RRSPs
Author: Brad Howland
First Posted: Jan. 23, 2006
If you move to Canada and have money in U.S. retirement arrangements (such as 401(K)s or IRAs) , you may be wondering what to do with that money!
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Taxation of U.S. Pensions in Canada
Author: Brad Howland
First Posted: Jan. 23, 2006
Information for U.S. citizens residing in Canada and receiving U.S. pensions.
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Visa Requirements for U.S. Musicians Working in Canada
Author: Brad Howland
First Posted: July, 2005
Question: "What special forms are there for entry to Canada? We are playing music festivals in Canada and will pay taxes at the end of the year. Do we need any info from the festivals for customs officials?"
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Visa Requirements for Canadian Musicians Working in the U.S.
Author: Brad Howland
First Posted: July, 2005
"I'm a musician living in Victoria, and I was offered a gig in the San Juan Islands. How to I get a visa to go down and work in the U.S.?"
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