TAX PLANNING
At Cardinal Point, we guide our clients through a full range of Canadian, U.S. and cross-border tax planning strategies. These strategies are designed to minimize our clients’ tax liabilities, maximize their cash flow, and help them to realize their financial goals.
Our tax planning initiatives are fully integrated with our clients’ investment, financial and estate planning strategies. This coordinated approach to wealth management streamlines the financial planning process and helps our clients ensure lasting wealth for today, tomorrow and generations to come.
Canada and U.S. Tax Preparation
Our domestic and cross-border taxation services also include tax preparation and tax compliance for clients living, working, investing, transitioning residency and/or conducting business in the U.S. and Canada. Our team of professionals specialize in providing the following list of services:
- Canada and U.S. tax preparation, including all provinces and states
- Tax preparation for Canadians living, working or investing in the United States
- Tax preparation for Americans living, working or investing in Canada
- Tax planning for Canadians moving to the U.S. and Americans moving to Canada
- Reporting of Canadian financial accounts in the United States, e.g., FinCEN Report 114 (FBAR), Form 8938
- U.S. and Canadian tax residency status determination, including any applicable exemptions
- Canadian departure return and deemed disposition filings
- U.S.-Canada Tax Treaty elections review to eliminate double taxation
- Canadian foreign tax credit claims in the United States
- Comprehensive review of CPP/OAS taxation in the United States and social security-CPP equalization
- Tax advice for Canadians returning to Canada and Americans returning to the U.S., as well as on the Offshore Voluntary Disclosure Initiative
- Review of reporting requirements for RRSP, TSFA, RESP accounts in the U.S. and cross-border inheritances
- Integrated tax planning on Canadian tax positions and evaluation of U.S. estate tax issues for Canadian residents holding U.S. investments (including U.S. real estate)
- Tax preparation and planning for owners of cross-border rental properties
Whether you are a Canadian or American living in your home country, a Canadian living in the U.S., an American living in Canada or an expat living abroad, Cardinal Point can handle all aspects of your tax needs to ensure you comply with the relevant tax laws and regulations in Canada and the U.S.
Do you file both Canada and U.S. taxes?
Our team can handle all of your cross-border tax planning needs
Moving across the border?
Important tax planning initiatives must be considered prior to any move.
OUR RECENT PUBLICATIONS
Terry Ritchie on Unraveling Cross-Border Financial Planning
Snap Projections, a financial planning software company, recently featured Cardinal Point’s Partner and Director of Cross Border Wealth Services, Terry Ritchie, on their Growing Your Financial Advisory Practice podcast. Given Terry’s more than 30 years of experience in cross-border financial, investment, tax, and estate planning, it’s no surprise that Snap Projections chose to tap into his insight for this primer directed at financial planners who want to serve US-Canada clients.
Sweeping New Changes to U.S. Based Retirement Accounts in 2020
Terry Ritchie featured in article, “Could cross-border partnerships be the key to serving ex-pat clients?”
In today’s increasingly mobile society, it’s not that unusual for people to give up residency in their nation of birth in order to work or retire in another country. In fact, according to the United Nations Department of Economic and Social Affairs, there were an estimated 271,642,105 ex-pats around the world in 2019. But what does this globetrotting mean for the financial professionals who advise them?