Cross-Border Canada–U.S. Retirement Planning – A 2025 Guide for High-Net-Worth Families
Retirement planning is never one-size-fits-all. When your life, family, or assets cross the border between Canada and the United States, the complexities multiply. Taxation, social benefits, investment management, estate planning, and healthcare are subject to two sets of rules — and the choices you make in one country may have unintended consequences in the other. [...]
Cross-Border Canada–U.S. Retirement Planning – Withdrawal Rates and Spending Strategies for 2025 and Beyond
When you’ve spent decades building wealth on both sides of the Canada–U.S. border, the challenge of retirement isn’t just reaching financial independence — it’s decumulating wisely. Withdrawal planning is the central question for retirees: How much can you spend each year without outliving your savings? Which accounts should you draw from first? How do government [...]
Why Dual Licensing Matters in Cross-Border Wealth Management
For individuals and families who live, work, or invest on both sides of the US/Canada border, managing wealth is not as simple asking Artificial Intelligence, performing a Google search, asking a friend, or relying on a single Canadian or US investment advisor or financial planner. Differences in tax systems, retirement account structures, estate laws, and [...]
Karen Rogers Sim: Cross-Border Financial Planning for Canadians moving to the U.S.
Planning a move from Canada to the United States is exciting—but the tax and planning details can get complicated fast. In this blog post, cross-border advisor Karen Rogers Sim of Cardinal Point Wealth Management explains how to prepare before you depart Canada so you can avoid double taxation and costly surprises. You’ll learn how residency [...]
Canadian & U.S. Taxation of Social Security – 2025 Claiming Strategies for Couples
For Canadians and Americans alike, Social Security is often a cornerstone of retirement income planning. While Canadians may be more familiar with the Canada Pension Plan (CPP) or Old Age Security (OAS), many cross-border families rely on U.S. Social Security benefits either directly from their own contributions or indirectly through spousal or survivor benefits. Understanding [...]
U.S. and Canadian Income Tax Implications on the Sale of Your Personal Residence
When it comes to selling a personal residence, taxpayers in both the United States and Canada benefit from considerable exemptions that can shield all or part of the gain from capital gains tax. However, individuals who have cross-border status—particularly U.S. citizens living in Canada—face unique and sometimes costly tax implications. Below is a comprehensive discussion [...]
Preserving Estate Value – How a Graduated Rate Estate Can Turn Post-Death Losses Into Tax Savings for High-Net-Worth Canadians
For high-net-worth Canadians, a principal residence is often only one part of a diversified portfolio that may include vacation properties, investment real estate, yachts, art collections, and other high-value personal assets. Yet, it is not unusual for the primary residence — especially in premier real estate markets like Vancouver, Toronto, or Muskoka — to represent [...]
Clean Energy and Vehicle Credits (USA) are Going…going… gone!
One way that the One Big Beautiful Bill Act (OBBBA) pays for its extension and expansion of the Tax Cuts and Jobs Act of 2017 (TCJA) is by cutting tax credits put in place by the Inflation Reduction Act (IRA). The Clean Vehicle Credits end for vehicles purchased after September 30, 2025. If you were [...]
Charitable Giving – Canada – Taking Credit
Whether you prepare your own taxes with retail software or hire a tax professional, you can expect to be asked if you made any charitable contributions in the year. In addition to the good feeling of supporting a worthy cause, there is a potentially large tax benefit to making donations to qualified/registered charities. The tax [...]
Charitable Giving – U.S. Tax Rules
Five ways to deduct donations in the U.S. with OBBBA changes There are five ways for individuals to deduct charitable donations on a U.S. tax return. charitable donation deduction in addition to the standard deduction; itemized deductions; qualified charitable distributions from an IRA; funding a Donor Advised Fund (DAF); and funding a Charitable Remainder Trust, [...]
Cross-Border Tax Tips for Canada-U.S. Digital Nomads (Temporary remote workers)
A New Era of Work and Wealth The rise of remote work since the COVID-19 pandemic has transformed the global workforce, with an estimated 40+ million digital nomads worldwide in 2025, including 18.1 million from the United States (Demandsage). For Canadians and Americans embracing this lifestyle—working remotely while living across the Canada-U.S. border—the promise of [...]
Cross-Border Financial Planning for Cryptocurrency Holdings: A Canada-U.S. Guide
A New Era of Wealth Cryptocurrencies, such as Bitcoin and Ethereum, have solidified their place as a significant asset class, with over 650 million global owners in 2025 and Bitcoin recently surpassing $110,000 USD. For Canada-U.S. cross-border taxpayers, holding digital assets introduces complex tax, reporting, and valuation requirements. Non-compliance with the Canada Revenue Agency (CRA) [...]
Southbound Investment – Tax, Estate, and Financial Planning for Canadians Buying U.S. Real Property
Every year, thousands of Canadians head south in search of sunshine, golf courses, and winter respite. For many, these seasonal escapes lead to something more permanent –ownership of real property in the United States. Whether it's a Florida condo, an Arizona vacation home, or an investment property in California, Canadians represent one of the largest [...]
Cross-Border Death and Taxes – Planning for Canadians Dying with U.S.-Situs Assets
In today's globally mobile and interconnected world, it's increasingly common for Canadians to own U.S.-situs assets—whether it's a vacation home in Florida, an investment property in Arizona, or shares in U.S. corporations. However, what's less commonly understood is the U.S. estate tax regime that applies to non-U.S. persons at death. For Canadians with U.S. assets, [...]
Cross-Border Bequests – Planning for U.S. Beneficiaries of Canadian Estates
As Canadians increasingly maintain global ties—through family, business, or retirement—cross-border estate planning has become more critical than ever. A common scenario arises when a Canadian resident intends to leave assets to a child or grandchild who lives in the United States, either as a U.S. citizen or resident. While naming a U.S. beneficiary in a [...]
Navigating Cross-Border Wealth Planning – A Guide for Canadian Couples with a U.S. Citizen Spouse
For many Canadian families, the concept of U.S. citizenship may seem remote—until it turns out that one spouse holds a U.S. passport, was born in the U.S., or is even a dual citizen through a parent. This quiet connection to the United States can trigger a complex layer of cross-border tax, estate, and financial planning [...]
Making Roth Conversions Before Moving to Canada: Key Considerations
Relocating to Canada from the U.S. presents unique financial planning opportunities and challenges, especially regarding U.S. retirement accounts like IRAs and Roth IRAs. One strategic move often considered is converting a traditional IRA or 401(k)/403(b) to a Roth IRA before establishing Canadian tax residency. Below, we outline the key aspects of this strategy, clarify the [...]
Unlocking Double Tax Benefits: Using Your IRA for Charitable Giving as a Canadian Resident
You’ve spent the majority of your career employed in the U.S. and are ready to return home to Canada with notable retirement assets in hand. For Canadian residents holding U.S. Individual Retirement Accounts (IRAs), Qualified Charitable Distributions (QCDs) offer a rare opportunity to optimize charitable giving while minimizing tax burdens. This strategy leverages unique provisions [...]
Cross-Border Tax & Estate Planning Under the Big Beautiful Bill: Key Considerations for Canadian and U.S. Taxpayers
With the enactment of the "Big Beautiful Bill" on July 4, 2025, cross-border taxpayers—particularly those navigating Canadian and U.S. tax and estate planning systems—face major legislative changes. These changes are reshaping the individual, estate, business, and international tax landscape, with far-reaching implications for planning, compliance, and long-term strategy. At Cardinal Point Wealth Management, we specialize [...]