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Cross Border Taxes

US Estate Tax When Spouse Is Not A US Citizen

Jul 28 2013
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Are you a US taxpayer married to a non US citizen spouse? If yes, then you’ll want to be aware of the US estate tax rules that can result in a sizable tax bill absent the right cross border estate planning. Recently, we started working with an American client, let’s call
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US Tax on Alimony Received From a Canadian

Jul 09 2013
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While most people know that alimony is normally taxable income to the recipient and tax deductible by the payer, in the case of cross border taxes, alimony can be received tax free while the payer still gets a tax deduction. Let’s look at an example where this would apply. Eliza
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How A Canadian Resident Reports a K-1 in the USA

Jul 07 2013
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We recently received a call from a client in Canada who invested in a California LLC and was issued a K-1 from the LLC. Our client is a Canadian resident and citizen only, is not a green card holder or in any way qualifies as a US taxpayer. Never having seen a K-1 before, our
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Don’t MAIL That FBAR: New Mandatory FBAR E-Filing

Jul 07 2013
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Electronic FBAR filing has become mandatory, including for late filings and corrected FBARs, effective July 1, 2013. Under the new rules, a penalty may be imposed for filing your FBAR on paper and not complying with the e-filing requirement. Paradoxically, even though FBAR
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US tax compliance when doing business in Canada

Jul 02 2013
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In today’s day and age, investing or operating internationally is a lot easier than it’s ever been. As such, many individuals and businesses have started investing and doing business in foreign countries to take advantage of new markets. At Gedeon Law & CPA, we
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Canadian Banks Disclosing U.S. Depositors to IRS

Jun 28 2013
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If you are a US taxpayer and a client of a Canadian financial institution and have not been filing FBAR or other foreign disclosures required by the IRS, then you need to read this article. Why? Because Canadian banks will now be required to report your account to the IRS under
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How Canadian Residents Receiving US Social Security Are Taxed

Jun 12 2013
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What if you are a Canadian resident who receives US Social Security benefits? We recently published an article about US residents who receive CPP/OAS Canadian pension benefits. What about the opposite? Let’s take the case of our reverse snowbird Emily, a Canadian citizen
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Moving to the US? Don’t Use Your Parent’s Mailing Address

Apr 19 2013
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Does this fact pattern sound familiar? Gordie is a Canadian who leaves Canada and takes up residence in the United States. Like many Canadians, Gordie decides to leave his investments behind in Canada and changes the address with his financial institutions to his parents’
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Repaying Home Buyer Plan (HBP) and Non-Residents

Apr 06 2013
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At Gedeon Law & CPA, we’ve worked with many Canadians who have taken out money from their RRSPs under the Home Buyers’ Plan (HBP) and then moved to the US with an unpaid balance. As most Canadians know, HBP is a program that allows Canadians to withdraw up
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How Canadians Save Taxes While Working in the U.S.

Mar 01 2013
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At Gedeon Law & CPA, we regularly work with clients from Canada who come to work in the U.S. on a temporary basis. By temporary, we mean a work assignment generally lasting 2 years or less. A case in point, we recently started working with a journalist from a major Canadian
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