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Terry Ritchie in Podcast: Tax Implications for Americans Living in Canada

June 4, 2020 By Cardinal Point Wealth

Minimizing liability when paying income taxes can be complicated for the nearly 1 million American citizens living in Canada. Terry Ritchie, Cardinal Point Wealth Management Vice President, recently shared his expertise on this topic with Financial Planning for Canadian Business Owners podcast host Jason Pereira.

From the tax definition of U.S. resident and income tax filing requirements to tips for setting up businesses and incorporating in Canada, Terry and Jason cover numerous topics of interest to Canadian entrepreneurs who are also residents of the United States.

In the nearly one-hour episode, you’ll also learn:

  • The potential penalties for not filing income taxes
  • Tax changes that occurred when Trump became president
  • Canada and U.S. homeowner tax differences
  • The importance of tax compliance
  • The effects of tax debt on U.S. passports
  • Much more

Check out the podcast and complete transcript of Terry and Jason’s conversation here.

Terry Ritchie
Terry Ritchie

Filed Under: Americans Living in Canada, interviews Tagged With: Americans living in Canada, Canada and U.S. homeowner tax differences, Canadian Business Owners, penalties for not filing income taxes, tax compliance, tax debt on U.S. passports, Tax Implications for Americans Living in Canada

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"Cardinal Point" is the brand under which the dedicated professionals within the independent Cardinal Point Group of Companies collaborate to provide financial and investment advisory, risk management, financial planning and tax services to selected clients. Cardinal Point comprises two legally separate companies: Cardinal Point Wealth Management, LLC, a U.S. registered investment advisor and Cardinal Point Capital Management Inc.is a U.S. registered investment advisor and a registered portfolio manager in Canada (ON, QC, MB, SK, NS, NB, AB, BC). Advisory services are only offered to clients or prospective clients where the independent Cardinal Point firms and its representatives are properly registered or exempt from registration. Each firm enters into client engagements independently. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital.