Author Archives: CAN US TAX

Should You Invest in Real Estate or a Business – or BOTH?

When immigrating to the United States, Canadians tend to explore investment Visa paths as they provide more reassurance for families to stay within borders than a Temporary Work Visa. Two of the most frequently requested visas are the EB-5, which provides a direct green card path, and the E-2, which offers an individual to work […]

Your Guide to the Successful Completion of a Form W – 7

  A Form W-7 is used by the Internal Revenue Service (IRS) to issue an Individual Taxpayer Identification Number (ITIN) to non-US citizens. These individuals earning income from US sources require an ITIN in place of a Social Security number, and are required to file a federal tax return. After that, an ITIN will be […]

Tax Implications of Opening a Foreign Bank Account

United States citizens, Permanent Residents and U.S. resident aliens who hold assets in foreign institutions have significant yearly reporting requirements that need to be adhered to. The Internal Revenue Service (IRS) and Financial Crimes and Enforcement Network (FCEN) has different reporting requirements for money and securities held in foreign banks than in domestic bank accounts. […]

Investing in U.S. Real Estate? Here Are Some Strategies for Canadian Buyers!

Canadians are prominent international buyers in the American real estate market, but the methods used by investors vary. Canadians can buy and own U.S. real estate either directly or through the use of various forms of business entities — corporations, partnerships, and trusts.  Let’s review some ownership structures available for foreign investors: Direct ownership: A […]

Employment Tax Basics: Where is your US employee pay going?

Employers are not only required by the Internal Revenue Service (IRS) to pay your business’s portion of taxes, but you are responsible for withdrawing specific taxes from employees. Individuals who are self-employed pay the same tax (with the same rate) that employees and employers pay, but it’s paid differently. Learn where tax dollars are going […]

Are You Leaving Canada? The Departure Tax Requirements for A Successful Exit

Moving abroad can be a complicated process. Perhaps you are a professional moving for work or a retiree looking for a warmer location; there are tax` consequences if they choose to leave Canada permanently. Understanding the  penalties that may arise when terminating your Canadian tax residence can ease the process and reduce implications. Under Canada’s […]