CROSS BORDER WEALTH MANAGEMENT AND FINANCIAL PLANNING ADVISOR
At Cardinal Point, we understand that there’s no such thing as a “one size fits all” cross border wealth management financial planning strategy. That’s why our team of practitioners provide clients with personally tailored tax, legal and investment solutions that fit their unique cross-border lifestyle.
CROSS BORDER WEALTH MANAGEMENT AND FINANCIAL PLANNING
At Cardinal Point, we understand that there’s no such thing as a “one size fits all” cross border wealth management and financial planning strategy. That’s why our team of practitioners provide clients with personally tailored tax, legal and investment solutions that fit their unique cross-border lifestyle.
Increasing Need for Cross Border Wealth Management Specialists and Financial Advisor
Whether for professional or personal reasons, more people are taking up permanent or temporary residence in other countries. Never has this been more true than today, particularly for Canadian and American citizens. And while a move into a new country represents a new and exciting time, this transition also requires proper cross border wealth management, financial planning, tax planning and investment management.
Trusted Guidance Across Borders
Cardinal Point takes a multifaceted approach to providing wealth management services in the United States and Canada. Our investment wealth management, tax and financial planning solutions are tailored to those living and working in the U.S. and Canada and those expats living abroad. Cardinal Point’s team of advisors specialize in cross-border planning, transition of assets, and ongoing oversight of investment portfolios.
Who Can Benefit
Those clients who benefit from our cross-border financial, tax and estate planning and investment management oversight expertise include:
- Executives and professionals working and living across the border
- Canadians retiring in the United States and Americans retiring in Canada
- Small business owners with companies on both sides of the border
- Canadians returning to Canada and Americans returning to the United States
- Canadian and U.S. expats living abroad
Speak with a cross-border financial planner
We handle all your cross-border tax & financial planning needs
OUR RECENT PUBLICATIONS
Winter 2023/2024 Tax Highlights – USA
The tax team at Cardinal Point Capital Management has put together a few highlights of what is old and what is new for taxes and compliance in the United States this winter of 2023–2024. The Tax Cuts and Jobs Act is still in play until 2026 and the lower tax rates, higher gift and estate tax exemption and complex foreign reporting are both your planning opportunities and your foreign compliance burden. The SECURE Act 2.0 offers better choices for retirement savings. Clean energy tax credits from the Inflation Reduction Act are fully available for 2023 and forward. Beneficial Ownership Reporting will start in January 2024.
Winter 2023/2024 Tax Highlights – Canada
2023 was a busy year of changes for taxation in Canada! Changes to the Alternative Minimum Tax (AMT) are substantial and will affect most taxpayers with capital gains and stock options. The tax team at Cardinal Point Capital Management has put together this letter to explain AMT at a high level and point out some other measures that warrant notice. These other measures include: the First Home Savings Account, anti-flipping rules for principal residences, the Underused Housing Tax, vacant home taxes expanded reporting for all trusts (including bare trusts), enhanced GAAR, and the Mandatory Disclosure Rules. Let’s jump in with the increased limit for withdrawals of EAP (the grant portion) from an RESP.
2024 Annual Inflation Adjustments from the IRS – Cross-Border Implications
The only constant in the world of taxes is change. The IRS recently announced the inflation adjusted numbers for 2024. Spoiler alert: All the numbers increase until 2026. For U.S. citizens living abroad and for non-U.S. persons with assets in the U.S., these changes matter. In this article, the tax team at Cardinal Point Capital Management goes over the dollar limits such as the increase in the lifetime gift and estate tax exemption to $13,610,000 and what that means for a non-resident whose estate is in multiple countries or whose inheriting spouse is not a U.S. citizen.