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Infographic: Lifetime Capital Gains Exemption & Qualified Small Business Corporation

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Lifetime Capital Gains Exemption Small Business Corporations

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. There are implications regarding succession planning, and its benefits can be multiplied through use of family trusts. An LCGE can be a significant deduction, and Canadian or dual Canada/US tax residents need professional help devising a tax-efficient strategy.

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Infographic: Options for U.S. IRA account holders when living in Canada

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Options for U.S. IRA account holders when living in Canada Infographic

Few financial advisors are licensed or equipped to provide investment advice for American and Canadian cross-border clients, and there is a lot of bad counsel circulating at present. The best advice usually leads to a choice from three main options, but which one? Cardinal Point is an advisory firm that specializes in this area as it meets the highest industry standards and is licensed to manage investments in both countries.

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