CANADIANS LIVING IN THE U.S.
With Cardinal Point, Canadians living in the U.S. can have the assurance of knowing all of their cross-border financial planning considerations can be addressed by one company.
CANADIANS LIVING IN THE U.S.
With Cardinal Point, Canadians living in the U.S. can have the assurance of knowing all of their cross-border financial planning considerations can be addressed by one company.
For Canadians living in the U.S., it can be difficult to find a local financial advisor or tax practitioner that is well versed in Canada-U.S. cross-border financial planning. This forces many Canadian expats to work with multiple Canadian and U.S. practitioners which can be inefficient and costly. With Cardinal Point, Canadian expats can have the assurance of knowing all of their cross-border financial planning considerations can be addressed by one company. With Cardinal Point, clients receive the following services:
- Coordinated investment management services for U.S. and Canadian accounts
- Advice on specific assets that should transfer to the United States or remain in Canada
- Advice on Canadian retirement account distribution strategies while residing in the U.S.
- Holistic advice on cross-border financial and estate planning
- Incorporated U.S. gift and estate strategies within the financial plan
- Assistance with cross-border tax planning strategies
- “Canada-U.S. Tax Treaty” advice to avoid double taxation
- Guidance on retirement benefits, such as CPP, OAS, Social Security and Medicare
- Assistance with currency conversion strategies
- U.S. stock option and company bonus plan advice
- Residential and commercial real estate advice
- Health, life, disability, long-term care, business and property insurance review
- Guidance on the unique economic and regulatory environment in the United States
- Personal and corporate Canada and U.S. tax preparation including annual foreign account disclosure filings
Speak with a cross-border financial planner
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OUR RECENT PUBLICATIONS
Secure Act 2.0
There are a number of rules changes proposed by Congress that will impact retirement accounts. The changes will benefit US residents and also Canadians with IRAs and other retirement accounts. There are many ways this could be advantageous for you, possibly deferring tax or extending benefits. Cardinal Point, as the leading cross-border specialist, can show you how.
Infographic: Lifetime Capital Gains Exemption & Qualified Small Business Corporation
The Lifetime Capital Gains Exemption (LCGE) is available to all Canadian residents and Americans living in Canada as a tax deduction on the sale of a Qualified Small Business Corporation (QSBC). It is indexed to inflation, and it can be used in part. Three tests must be met to claim an LCGE, and there are complicated regulations governing each of these.
Infographic: Cross-Border Implications of Holding a 529 Plan Infographic
Canadian families returning to Canada from the US must consider significant tax implications associated with any existing 529 Plans, including whether a Canadian higher education institution is eligible under the Plan. Also, there is the likelihood of new Canadian tax liability as well as the possibility the 529 may be deemed a resident trust. Transferring ownership of the 529 may avoid triggering new taxes.