TAX PLANNING SERVICES
At Cardinal Point, we guide our clients through a full range of Canadian, U.S. and cross-border tax planninga strategy. These strategies are designed to minimize our clients’ tax liabilities, maximize their cash flow, and help them to realize their financial goals.
TAX PLANNING
At Cardinal Point, we guide our clients through a full range of Canadian, U.S. and cross-border tax planning strategy. 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 strategy. 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 tax planning 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 services 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 help 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
Cross-border Canadian Departure Checklist when moving to the U.S. Ebook
Before Canadians become permanent residents of the U.S., it is important to understand and prepare for the significant differences between these countries as to cross-border financial planning. Mistakes and missed deadlines in these matters can be costly. There are many considerations. Some are obvious, but many are not.
Kris Rossignoli featured in a Financial Post Article, “Getting remarried? Here are some…” | Canada US Border Tax
Americans Exiting Canada Understanding the Five-Year Deemed Disposition Rule eBook
A very common question at Cardinal Point for Americans moving to Canada is how to navigate around the CRA’s Five-year Deemed Disposition Rule. Canada applies an exit tax on unrealized capital gains for Americans returning to the U.S. after minimum five years of tax residency in Canada. Given the increased information sharing between CRA and IRS, failure to file the appropriate forms will result in penalties.