Terry Ritchie, U.S. Expatriation and Your Dual Citizen Clients

November 13, 2014
In this video, Terry Ritchie speaks with InvestmentExecutive.com’s Rudy Mezzetta about what U.S. citizens living abroad need to know when considering renouncing their U.S. citizenship. Though the numbers of expatriations are reaching historical highs, the process is not an easy one. After filing with the Department of Homeland Security, an individual wishing to renounce citizenship

With Clock Ticking On FATCA, Financial Firms Brace For Headaches

April 12, 2014
The clock is ticking down for financial institutions as the Foreign Account Tax Compliance Act (FATCA) takes effect this July. With three months to go until implementation, firms face significant logistical challenges to comply with FACTA. Compliance executives at this week’s OpRisk North America conference point to the challenge for multinational banks with legal entities

Avoiding Cross-Border Financial Planning Pitfalls

March 28, 2014
What’s the quickest way to turn traditional financial planning upside-down? Place a border in the middle of your tax and financial life. Financial, tax and estate planning can be a difficult undertaking for most individuals and couples.  Imagine the added complexities of planning between two countries; it requires proper advice to know where the minefields

The First Canadian in the White House?

August 27, 2013
Our very own, Terry Ritchie, recently wrote an article for the website, Advisor.CA. He touches on the latest news surrounding Ted Cruz. Cruz, a U.S. senator, has decided to renounce his dual Canadian citizenship to prevent confusion regarding his political loyalties, experts suspect, because the Republican Party has shortlisted him as a candidate for the

Tax Implications for Americans Living in Canada

June 4, 2013
In this video clip, Terry Ritchie updates Rob Carrick on the IRS crackdown on Americans who live and work in Canada but haven’t been filing their annual tax returns. There is serious documentation required by U.S. tax authorities regarding financial holdings. Last September, a new program was introduced for Americans living and working abroad: the

Why Is It Important For Canadian Expats To Disclose Foreign Based Accounts to the IRS?

March 22, 2012
John McCord’s article focuses on the IRS (US Internal Revenue Service) policy that taxes the worldwide income of US residents. Many US residents are unaware of this policy and the law that requires the disclosure of the majority of foreign accounts, as they are subject to US taxation. Disclosure rules also apply to Registered Retirement