Moving to Canada from the U.S. | Americans living in Canada
Moving to Canada from the USA; USA/Americans living in Canada have unique investment, tax, and financial planning requirements that must be carefully addressed. At Cardinal Point, our team of cross-border professional advisors are prepared to deliver comprehensive services and solutions.
Moving to Canada from the USA | USA/Americans living in Canada
Moving to Canada from the USA; USA/Americans living in Canada have unique investment, tax, and financial planning requirements that must be carefully addressed. At Cardinal Point, our team of cross-border professional advisors are prepared to deliver comprehensive services and solutions.
Our Comprehensive Cross-Border Solutions
- Coordinated investment management services for U.S. and Canadian accounts
- Advice on specific assets that should transfer to Canada or remain in the United States
- Canada-U.S. financial and retirement planning
- U.S. retirement account distribution strategies while residing in Canada
- Holistic advice on cross-border financial and estate planning
- Personal and corporate 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
- Canadian and 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 Canada
- Canada and U.S. tax preparation including annual foreign account disclosure filings
Speak with a cross-border financial planner
We handle all your cross-border tax & financial planning needs
OUR RECENT PUBLICATIONS
Ebook: Canadian Deductibility of 401(K) Contributions and U.S. Deductibility of RRSP Contributions
Residents of Canada: What are the Canadian and U.S. Tax Ramifications when being forced to liquidate a U.S. brokerage account Ebook
Clarifying the U.S. Minimum Distribution Rules
Regulations around Required Minimum Distributions (RMDs) are quite complex and simultaneously extremely important. Failing to take an RMD will result in a 50% excise tax. There is a precise calculation to determine an RMD amount for a given year, and you can delay your first RMD. There are specific situations that permit extending the period in which you must take a distribution and rules that apply in the event of death. There are regulations around RMDs applicable to inherited accounts, and these have completely changed since passage of the SECURE Act in 2019. Opportunities exist to delay RMDs for a Designated Beneficiary not yet chosen. There are a multitude of tax implications around all of these issues, and Cardinal Point is eminently qualified to offer you tailored guidance in your planning strategies.