Old Age Security and Other Government Income Sources

June 01, 2023 |Charles W. Cullen III
As you approach age 65, you may have questions about the Old Age Security program. This article discusses the OAS pension, how it is calculated, and strategies that may help you minimize the impact of the OAS clawback. Click Here
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Canada Pension Plan

May 25, 2023 |Charles W. Cullen III
Ever wonder how your CPP contributions will help you in retirement? This article examines how the plan works, your choices and the implications of those choices. For more information, please reach out. Click Here
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U.S. Foreign Account Tax Compliance Act (FATCA) in Canada

May 18, 2023 |Charles W. Cullen III
The U.S. Foreign Account Tax Compliance Act (FATCA) seeks to identify U.S. persons who may evade U.S. taxes by placing assets in non-U.S. accounts. This article discusses who this effects while providing an overview of FATCA. Click Here
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Canadian Non-Resident

May 11, 2023 |Charles W. Cullen III
While a resident of Canada for tax purposes, you are taxable in Canada on your worldwide income. However, for those that move and are no longer residents, you are only liable for Canadian tax purposes on Canadian source income. As always, for more information...
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U.S. Residency - Canadians Travelling to the U.S.

May 04, 2023 |Charles W. Cullen III
For Canadians who spend a substantial time in the U.S., you must be aware that you may be required to file a U.S. income tax return. Knowing how the U.S income tax law is imposed may help you prevent unpleasant surprises and costly penalties. For more...
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Ownership of a Canadian Home or Vacation Property by U.S. Persons Living in Canada

May 01, 2023 |Charles W. Cullen III
For U.S. persons living in Canada, understanding your U.S. tax exposure and potential strategies to minimize it can be extremely important. For more information, please reach out. Click Here
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Are you a U.S. person living in Canada?

April 06, 2023 |Charles W. Cullen III
The U.S. is one of the few countries in the world that levies tax on your worldwide income or worldwide estate based upon citizenship and residency status. As a result, it is important to determine your U.S. status, irrespective of the fact that you are...
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Transferring a Foreign-Based Retirement Plan to an RRSP

March 24, 2023 |Charles W. Cullen III
Possibly the most common in-bound question we get is can I move my 401K/IRA to an RRSP? This is a tax-deferred strategy worth considering if you are retiring in Canada. However, to properly execute the strategy, many factors must be in place and considered...
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Taxation of Canadian Registered Savings Plans for U.S. Persons

March 16, 2023 |John Donaldson
In Canada, we have a number of registered savings plans available to Canadian residents that provide tax and other benefits. However, some of these plans, for U.S. persons, may be subject to punitive U.S. tax, additional U.S. tax filing requirements and/pr...
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Passive Foreign Investment Company (PFIC) Rules

March 09, 2023 |Charles W. Cullen III
Can American's living in Canada own Canadian mutual funds, pooled funds, and exchange trade funds? The answer on PFICs is complex and has many factors to consider. For more information, please reach out. Click Here
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