US Cross Border Tax Update - FPCBO 124

Описание: Understanding US-Canada Cross-Border Taxation with Terry Ritchie

In this episode of Financial Planning for Canadian Business Owners, Terry Ritchie, an expert in US-Canada cross-border planning, joins us to discuss the impact of recent US political changes on cross-border taxation. We delve into key aspects like the implications of US citizenship-based taxation, the Canada-US tax treaty, the potential changes in estate tax exemptions, and the recent elimination of the Windfall Elimination Provision related to social security. We also explore the complexities US citizens face with tax compliance when residing in Canada, along with beneficial tax provisions and ongoing legislative proposals. Ideal for Americans in Canada and cross-border financial planners, this episode is full of crucial insights and practical guidance.

00:00 Introduction and Guest Introduction
00:48 Understanding US Taxation for Canadians
01:45 Eritrea and Cross-Border Taxation Anecdotes
02:41 US Tax Obligations and Compliance
06:26 Social Security and Windfall Elimination Provision
10:19 Potential Tax Changes and Their Implications
15:44 Estate Tax and Gift Tax Rules
21:05 Real Estate and Relocation Considerations
23:21 Conclusion and Contact Information