- Tax planning for a move from Canada to the USA. - Will discuss for US citizens and non-US citizens - Will include pension, Canadian tax deferred investment accounts. - Canadian departure tax, how to plan for it. Includes a discussion of treaty article XIII(7) - Issues with Canadian small businesses - Continuing to work for a Canadian employer. - Filing US taxes in year 1. - Canadian non-resident filings. - Areas of double taxation.
Learning Objectives
- Upon completion of this course, you'll be able to:
- Explain the key tax implications of relocating from Canada to the U.S., including departure tax (Article XIII(7)), pension/retirement account treatment, and non-resident filing obligations for both U.S. citizens and non-citizens.
- Analyze case studies to identify double taxation risks (e.g., Canadian small business income, ongoing Canadian employment) and apply treaty provisions (e.g., Article XIII(7)) or elections (e.g., IRS Form 8891) to mitigate exposure.
- Develop a customized transition plan for a hypothetical client, incorporating strategies for:
- Pre-move tax deferral (e.g., RRSP/TFSA optimization)
- Departure tax liability minimization
- U.S./Canadian compliance (e.g., FBAR, Form 1040-NR)
- Ongoing cross-border employment or business income
Major Topics
- Tax planning for a move from Canada to the USA.
- Will discuss for US citizens and non-US citizens
- Will include pension, Canadian tax deferred investment accounts.
- Canadian departure tax, how to plan for it. Includes a discussion of treaty article XIII(7)
- Issues with Canadian small businesses
- Continuing to work for a Canadian employer.
- Filing US taxes in year 1.
- Canadian non-resident filings.
- Areas of double taxation.
