Blog and Articles

Financial planning doesn’t come with a crystal ball. No one—not even the best investment consultant—can say with absolute certainty how the market will move over a given period of time. We can, however, make predictions based on historical trends while diversifying the portfolios we manage in such a way as to capitalize on possible growth and mitigate potential loss. Learn more about how we do so in this article and explore our vision for the coming year.

Moving to Canada from the U.S. or any other country will have tax implications, which are often quite complex. Learn more about the way tax liability in Canada is determined and how this may impact you in this article.

Moving to the U.S. from Canada or any other country will have tax implications, which are often quite complex. Learn more about the way tax liability in the U.S. is determined and how this may impact you in this article.

Here we are again! We are almost at the end of the year and Congress is debating and tweaking a bill that would significantly change tax law. If implemented, these changes would have important implications for future tax years and there is planning that would need to be executed now for certain taxpayers. In this case, the year is 2021, and the bill is the 2,135 page Build Back Better Act (BBBA). The effective dates of the various tax measures are mostly for years starting after December 31, 2021.

Tax law in Canada was fairly stable in 2021 but Tax Brackets continue to creep up since they are indexed to inflation. The inflation factor was actually only 1% for 2021, so the changes to the brackets were minimal. The federal tax rates themselves did not change substantially.

If you are a U.S. citizen living in Canada, you probably know that one of the responsibilities attached to United States citizenship is to file an annual income tax return reporting your worldwide income, unless you are under the filing threshold. You will also pay U.S. income taxes, to the extent they are not offset by foreign tax credits for taxes legally paid or payable to Canada – your country of Tax Residence.

When our clients move from Canada to the U.S. or vice versa, they often leave real estate behind. While some choose to sell their former residence, others want to convert it into a rental property. Whichever action they take, tax considerations must be made. Learn more about the Canadian ‘change of use’ rules that should influence these decisions in this article.

Cardinal Point’s Vice President Terry Ritchie was recently featured in an article in the Vancouver Sun. Check out the highlights in this blog post.

Cardinal Point’s founder Jeff Sheldon was recently featured in InvestmentNews. Check out the highlights in this blog post.

Cardinal Point Wealth Management’s own Matt Carvalho, Chief Investment Officer, was recently featured in a CityWire Canada article titled, “It’s not always this good: Advisors make the case for fixed income.” View the article

The answer is a resounding yes. If you’re 72 years of age or older and need to meet the minimum distribution requirements for your qualified retirement plans each year, several factors need to be considered when determining the best time to do so. Learn more about them in this blog post.

Focus Financial Partners Inc. (NASDAQ: FOCS) (“Focus”), a leading partnership of independent, fiduciary wealth management firms, announced today that Cardinal Point Capital Management Inc. and Cardinal Point Wealth Management, LLC (together, “Cardinal Point”) have entered into a definitive agreement to join the Focus partnership. The transaction is expected to close in the fourth quarter of 2021, subject to the receipt of regulatory approval and other customary closing conditions.

If you’ve been living in the US or elsewhere abroad and plan to purchase property in British Columbia in the future, you are going to encounter the SVT or BC Speculation and Vacancy Tax. Designed to address real estate affordability, the tax is imposed annually based on factors including residency status and where you derive and report your income. Learn more about the SVT and its complex cross-border implications in this article.

If you have been paying any attention to economic news lately, you’ve likely been inundated with articles about inflation. While some economic media outlets are predicting sustained inflation over 3%, it is truly impossible for anyone to know what the future may hold. That is why our Investment Committee continuously meets to review market conditions and discuss any additions that may provide value to our client portfolios. Learn more about how we combat inflation risk with diversification in this article.

Home equity in Canada has significantly increased, and some Canadians are now thinking about purchasing vacation homes. Thanks to a favorable Canadian-to-U.S. dollar exchange rate, many of them are also considering the U.S. as the possible location of such vacation property. If you are among them, you need to consider your wealth structuring options before you make a purchase. Learn more in this article.

From dangerous assumptions and differing tax rules to inadequate health coverage and life insurance considerations, there are several common traps U.S. retirees moving to Canada may face without the guidance of a cross-border wealth manager. Terry Ritchie recently shared his insight into these traps with ThinkAdvisor, an online resource for financial and investment advisors.