Finance Minister François-Philippe Champagne presented the Federal Budget 2026 on November 5, 2026. The budget keeps personal and corporate income tax rates unchanged. Instead, it focuses on simplifying Canada’s tax system. The government describes this budget as the first of two packages. It plans to introduce the second in the Spring Economic Update 2027. Several […]
Federal Budget 2026: What It Means for You Read More »
Managing taxes across Canada and the United States can be more complicated than filing a standard annual tax return. If you earn income in both countries, own property in the U.S., operate a business across the border, or have U.S. citizenship while living in Canada, you may need to understand the tax rules of both
Cross-Border Tax Accountant in Canada: How to Choose the Right Specialist Read More »
Moving from Canada to the US can bring new career opportunities, business prospects, and lifestyle changes. However, before relocating, it is important to understand how the move affects your taxes. Your Canadian tax responsibilities do not automatically end when you cross the border. Your residency status, Canadian assets, investments, and income sources all influence what
Moving from Canada to the US: What Happens to Your Taxes? Read More »
“I thought Form 5471 was the only thing I needed” If you are a U.S. citizen living in Canada and you own a Canadian corporation, filing Form 5471 is not the end of your U.S. obligations. The bigger issue is often GILTI: a U.S. tax on your corporation’s profit, charged to you personally, every year.
U.S. Citizens with Canadian Corporations: The GILTI Tax Trap Most Owners Miss Read More »
