Cardinal Point Wealth Management

Your Cross-Border Financial Advisor

Contact Us | Client Login
  • About Us
    • Our Story
    • Our Team
    • Our Clients
    • Legal and Compliance
    • Part 3 Form CRS
    • Relationship Disclosure Information
  • What We Do
    • Investment Management
    • Wealth Planning
    • Tax Planning and Preparation
    • Private Wealth Services-U.S.
    • Private Wealth Services-Canada
    • Cross Border Wealth Management, Financial and Tax Planning Advisor
    • Business Management for Athletes
  • Cross-Border Services
    • Cross Border Wealth Management, Financial and Tax Planning Advisor
    • U.S. citizens living in Canada
    • Moving to Canada from the U.S.
    • Canadians Living in the U.S.
    • Moving to the U.S. from Canada
    • Expatriates Living Abroad
  • Blog
  • About Us
    • Our Story
    • Our Team
    • Our Clients
    • Legal and Compliance
    • Part 3 Form CRS
    • Relationship Disclosure Information
  • What We Do
    • Investment Management
    • Wealth Planning
    • Tax Planning and Preparation
    • Private Wealth Services-U.S.
    • Private Wealth Services-Canada
    • Cross Border Wealth Management, Financial and Tax Planning Advisor
    • Business Management for Athletes
  • Cross-Border Services
    • Cross Border Wealth Management, Financial and Tax Planning Advisor
    • U.S. citizens living in Canada
    • Moving to Canada from the U.S.
    • Canadians Living in the U.S.
    • Moving to the U.S. from Canada
    • Expatriates Living Abroad
  • Blog

Interviews

Cardinal Point Wealth Management’s Terry Ritchie Featured in the Vancouver Sun

October 28, 2021 By Cardinal Point Wealth

Cardinal Point’s Vice President Terry Ritchie was recently featured in an article about renting out U.S. properties in the Vancouver Sun. The piece takes a look at the tax implications for Canadian residents who own vacation properties in the U.S. that they choose to rent to others.

A few highlights:

  • Many Canadians bought vacation homes in the U.S. during the country’s housing market meltdown in 2008.
  • For those who only use the property themselves, there are no tax implications until they sell or die.
  • Those who choose to rent out their U.S. properties must file a tax return with the IRS (in the U.S.) as well as the CRA (in Canada).
  • They may owe taxes to one or both countries on any income earned.
  • Tax returns must be filed even if the property is not profitable.

Get all the details when you read the entire article here.

Home rental Taxes

Filed Under: Articles, interviews

Terry Ritchie on Life and Retirement Traps for Cross-Border Clients

June 28, 2021 By Cardinal Point Wealth

ThinkAdvisor, an online resource for financial and investment advisors, recently featured Cardinal Point’s Vice President and Private Wealth Manager Terry Ritchie’s insight into cross-border issues in an article in their online publication. With more than 30 years of experience in cross-border wealth management, Terry was able to shed light on a number of traps retirees commonly face when moving from the U.S. to Canada for their golden years.

From dangerous assumptions and differing tax rules to inadequate health coverage and life insurance considerations, these traps can lead to big financial problems if retirees don’t fully understand the implications of their move.

Check out the article here to learn more about:

  • Trap 1: Assuming it’s easy to move wherever you want as a U.S. citizen.
  • Trap 2: Relying on your old retirement savings arrangement regardless of your new home country.
  • Trap 3: Trying to skirt investment restrictions.
  • Trap 4: Leaving gaps in your health coverage.
  • Trap 5: Failing to adjust your life insurance.
View Article
Terry Cardinal Point Wealth

Filed Under: Articles, Cross-Border Estate Planning Articles, interviews

Matt Carvalho, CIO, Featured in ETF.com

December 23, 2020 By Cardinal Point Wealth

Matt Carvalho, CIO, was recently interviewed by ETF.com and discussed an ETF addition to our core broad market allocation.

Matt Carvalho

As a new year approaches, it’s a natural time to review your investments and make any necessary changes. If you think this may include adding additional ETFs to your portfolio, this article on the picks of three top financial advisors may be helpful. Cardinal Point’s own Matt Carvalho, chief investment officer, is included and explains his recommendation: the ARK Innovation ETF (ARKK)…

Read more at ETF.com

Filed Under: Articles, interviews

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, Americans Living in Canada - Tax Implications, Canada and U.S. homeowner tax differences, Canadian Business Owners, penalties for not filing income taxes, tax compliance, tax debt on U.S. passports

Possible Tax Changes for Snowbirds

February 3, 2015 By Cardinal Point Wealth

1040thumbWriting about possible U.S. tax changes for Canadians, Terry Ritchie, Director of Cross-Border Wealth Services, appeared in the January 2015 issue of Advisors Edge. In the “TaxBreak” column, Terry summarized how some of the recently enacted changes at the IRS can affect snowbirds.

Though the new U.S. Congress will likely focus its efforts on corporate taxation, there are still a number of newly enacted tax provisions to keep track of. More than 40 changes were enacted by the U.S. Internal Revenue Service in late 2014. A few of the notable changes include: an increase in the standard deduction for singles and married persons; limitations on itemized deductions; and an increase of the basic exclusion amount for the estates of people who die in 2015. Read the full article here.

Filed Under: Articles, Canada-U.S. Financial Planning Articles, Canadian Snowbirds, Cross-border Tax Planning, interviews Tagged With: Canada-U.S. financial planning, Canadian Snowbirds, Cross-border tax planning, U.S. tax changes for Canadians

  • 1
  • 2
  • 3
  • …
  • 5
  • Next Page »

Articles You Might Like

Dual Canada U.S. citizenship

Dual Tax Residency in a Canadian Context

Estate Planning letter

Communicating Your Estate Plan is a Vital Part of “The Estate Plan”

Gardener Contractor or Employee

Nannies, Housekeepers and Gardeners: U.S. Taxpayer Implications for Household Workers

Discuss your goals with us today
Canada US Investment Management Goals
We can handle all of your Canada-U.S. investment management, tax, estate and financial planning complications
Wealth management strategies fit for you
Cross-Border Financial Management assessment
Our cross-border financial planning team can provide an assessment of your needs based on your unique circumstances

How We Help

  • Cross-Border Financial & Tax Planning
  • Americans Living in Canada
  • Canadians Living in the U.S.
  • Moving to Canada from the U.S.
  • Moving to the U.S. from Canada
  • Expatriates Living Abroad

What We Do

  • Investment Management
  • Wealth Planning
  • Tax Planning & Preparation
  • Private Wealth Services for U.S. Residents
  • Private Wealth Services for Canadian Residents
  • Cross-Border Financial & Tax Planning
  • Business Management for Athletes

Resources

  • Canadians in California
  • Canadians in Texas
  • Canadians in Florida
  • Canadians in Arizona
  • Canadian and U.S. Expat Tax Planning
  • Wealth Management for U.S. Citizens in Canada
  • Calgary Financial Planner
  • Custodian Closed Your Cross-Border Investment Account?

Videos & Social Media

  • Americans in Canada: Investment Basics
  • Americans Selling Canadian Homes Face Tax Issues
  • Does it make financial sense to renounce your U.S. citizenship?
    BrightScope Cardinal Point Twitter Cardinal Point Google Plus Cardinal Point Facebook Cardinal Point LinkedIn Cardinal Point
Copyright © 2023 Cardinal Point Capital Management, ULC. All Rights Reserved.

“Cardinal Point” is the brand under which dedicated professionals within Cardinal Point Capital Management, ULC provide financial, tax and investment advisory, risk management, financial planning and tax services to selected clients. Cardinal Point Capital Management, ULC is a US 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 Cardinal Point and its representatives are properly registered or exempt from registration. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital.