Cardinal Point Wealth Management

Your Cross-Border Financial Advisor

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Cross-Border Financial Planning | Americans and Canadians living and working in the U.S. and Canada

CROSS-BORDER FINANCIAL PLANNING

Cross-border financial planning is essential for Americans and Canadians living in or between the U.S. and Canada – not only to minimize tax exposure but also to reduce potential liabilities.

At Cardinal Point, our advisors have decades of experience helping Canadians moving to the U.S. and Americans moving to Canada navigate the complexities of managing both personal and business assets. We provide cross-border financial planning support that enables clients to achieve their financial objectives while minimizing tax exposure in both countries.

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CROSS-BORDER FINANCIAL PLANNING

Cross-border financial planning is essential for Americans and Canadians living in or between the U.S. and Canada – not only to minimize tax exposure but also to reduce potential liabilities. At Cardinal Point, our advisors have decades of experience helping Canadians moving to the U.S. and Americans moving to Canada navigate the complexities of managing both personal and business assets. We provide cross-border financial planning support that enables clients to achieve their financial objectives while minimizing tax exposure in both countries.

Let’s Talk
Cross Border Pathway

Why is Cross-Border Financial Planning Critical for Americans and Canadians Living and Working in the U.S. and Canada?

Living and working between the U.S. and Canada can create unique financial complexities. Both countries have their own tax systems, laws, and regulations. Without proper planning, individuals may be at risk of double taxation, which means paying taxes on the same income or asset in both countries. This can result in a significant financial burden and reduce the overall value of their assets or investment portfolio.

In addition to minimizing tax exposure and liabilities, cross-border financial planning can help individuals optimize their retirement accounts, savings, estate planning, and investment strategies.

How can a Cross-Border Financial Advisor help with Cross-Border Financial Planning?

A cross-border financial advisor is an experienced professional who works with individuals and businesses to manage their finances across international boundaries. They can provide tailored advice on how to best invest and manage wealth across borders, minimize taxes, and ensure compliance with relevant laws and form submissions.

With two different tax systems, laws, and regulations, in Canada and the U.S., it can be difficult for individuals to understand how taxes work on either side of the border. The guidance of a professional cross-border financial advisor can ensure that you make the most of any potential tax savings while staying compliant with all applicable laws.

At Cardinal Point, we advise investors on managing their wealth across the U.S.-Canada border, while also seeking to maximize returns and minimizing liabilities. This includes recommending specific investments or strategies based on the individual’s unique financial situation and goals.

canada and united states cross border tax planning

Who benefits from Cross-Border Financial Planning?

Cross-border financial planning can benefit a variety of individuals and entities, including:

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    Individuals who live and work in both countries: Americans and Canadians who live and work in both countries can benefit from cross-border financial planning to optimize their finances and minimize their tax exposure.
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    Expatriates: Individuals who move abroad for work or other reasons can benefit from cross-border financial planning to ensure that they comply with tax laws in their home country and their new country of residence.
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    Business owners: Entrepreneurs who operate in both countries can benefit from cross-border financial planning to optimize their tax situation and ensure that they are in compliance with all relevant laws and regulations.
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    International investors: Individuals who invest in assets or securities in both countries can benefit from cross-border financial planning to ensure that their investments are structured in a tax-efficient manner.
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    Dual citizens: Individuals with dual citizenship in both countries can benefit from cross-border financial planning to ensure that they comply with tax laws in both countries and optimize their finances.

Cross-border financial planning can benefit anyone who has financial ties in both the U.S. and Canada and wants to optimize their financial situation while minimizing their tax exposure and liabilities.

US Citizens Living in Canada

U.S. Citizens Living in Canada

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cross border wealth management-US/Canada Investment Accounts

Moving to Canada from the U.S.

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US/Canada Investment Accounts

Canadians Living in the U.S.

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cross border wealth management

Moving to the U.S. from Canada

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cross border wealth management

Expatriates Living Abroad

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cross border wealth management US/Canada Investment Accounts

Investment accounts in Canada and the U.S.?

Our team manages assets in both countries
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Speak with a cross border wealth management - financial planner

Speak with a cross-border financial planner

We handle all your cross-border tax & financial planning needs
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OUR RECENT PUBLICATIONS

gifting, college funds

Cross Border Financial Planning – Non-Arm’s Length Cross-Border Gifting

When gifting assets in a non-arm’s length transaction, there are many financial and tax complexities to consider based on U.S. and Canadian laws. Where you and the recipient live, their immigration status, and the nature of their relationship all come into play. That’s true whether you give the gift of college tuition or a down payment on a home to a child, you are using an estate planning gifting strategy between spouses to avoid lengthy probate, or you are gifting property like jewelry or automobiles. This article provides insights to help you avoid unwanted and potentially steep tax liability and to ensure a smoother gift giving process.

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college fund RRSP

Cross Border Wealth Management: Navigating your RESP

A Registered Education Savings Plan (RESP) is a powerful asset when saving to pay for post-secondary education. College tuition had already become almost prohibitively expensive, years before recent historic inflationary pressures made the cost of higher education rise even more dramatically. That’s a constant challenge for parents who want to help fund their children’s post-secondary education. Navigating those challenges becomes more complicated when the RESP subscriber or the beneficiary reside in different countries. This article gives you an informative overview of some of the most common challenges, and insight into the most effective ways to proactively manage an RESP as part of your cross-border tax and financial planning.

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cross-border worker

Navigating Residency and Income Sourcing for Internationally Mobile Employees in Canada

Traveling across national borders for employment is increasingly common, and many Canadians derive income while working in the U.S. Similarly, many U.S. residents visit Canada to work for Canadian employers. But doing so can potentially expose you to complex tax rules, liabilities, and double taxation. That’s why strategic cross-border tax planning is essential to ensure full compliance with the tax laws of both nations while helping to minimize the taxes you are obligated to pay. This blog explains the nuances of cross-border tax law, how those may impact you, and solutions for navigating the complicated tax regulations.

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How We Help

  • Cross-Border Financial Planning
  • Cross-Border Tax Planning
  • Cross-Border Estate Planning
  • Cross-Border Investment Management
  • 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?
  • Part 3 Form CRS

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?
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“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.