Moving to Canada from the United States can be an exciting endeavor, but it also involves complex tax considerations. In this comprehensive video, Karen Rogers Sim, Tax Manager at Cardinal Point Wealth Management, shares expert insights on how the Canadian and U.S. tax systems differ, what it means to be taxed in both countries, and which strategies can help you minimize your tax liabilities. She guides you through key concepts like filing an “entry return,” the Canada–U.S. Tax Treaty’s role in preventing double taxation, and how to handle worldwide income reporting. You’ll also learn how to manage U.S.-based accounts—from 401(k)s, Roth IRAs, and 529 plans to stock purchase plans—when transitioning to Canadian residency. Beyond income tax planning, Karen highlights the significance of currency exchange fluctuations and delves into the nuances of maintaining tax compliance with dual residency status. Whether you’re moving for work, retirement, or a new adventure, this video will equip you with valuable strategies to avoid potential pitfalls, including the Net Investment Income Tax (NIIT) and other unexpected costs. Let Cardinal Point’s cross-border advisors guide you toward a well-informed move, so you can confidently embrace your new life in Canada with peace of mind.