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12
Apr
2013

US beneficiaries require special estate plan

By David Christianson, BA, CFP, R.F.P., TEP

If you have children or other people living in the US who might be beneficiaries of your estate, read on.  I meet more and more Canadians who are in this position, whose children have moved to America and may inherit a large amount of money someday.
We will also review the rules on Canadian testamentary trusts, [...]

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Categories: Estate Planning, US Citizens, Wills

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12
Oct
2012

US citizens in Canada can vote, and setting your goals

By David Christianson, BA, CFP, R.F.P., TEP

US citizens in Canada can vote
Many US citizens died in past centuries defending the doctrine “No taxation without representation.”  Good news is that this doctrine is alive and well in 2012.
We have talked a lot about how US citizens around the world are required to file US income tax and investment account returns each year.  [...]

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Categories: Cross Border Issues, US Citizens

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27
Sep
2012

US Citizens in Canada can vote in US elections

By David Christianson, BA, CFP, R.F.P., TEP

No taxation with representation!  US citizens in Canada can have their say.
As the IRS continues to tighten its noose on US citizens living in Canada, some US citizens have remembered that the country was founded on the principal of no taxation without representation.  True to this word, the US does allow its citizens living abroad [...]

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Categories: Cross Border Issues, US Citizens

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6
Jul
2012

The IRS finally speaks

By David Christianson, BA, CFP, R.F.P., TEP

Late filing guidelines for US citizens in Canada clarified
The Internal Revenue Service (IRS) in the US has finally announced some clear guidelines for US citizens who live in Canada and are late on their tax filing requirements. These new guidelines are proposed to take effect September 1, 2012.
Good news for US citizens living in Canada [...]

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Categories: Market Commentary, US Citizens

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2
Dec
2011

Good news for Americans living in Canada

By David Christianson, BA, CFP, R.F.P., TEP

Good news for Americans living in Canada
It appears that the IRS may have blinked, in the face of pressure from the Canadian government and the estimated 2 million American citizens living in Canada.
According to a Globe and Mail article published December 2, 2011, the American ambassador to Canada has said that the IRS will announce [...]

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Categories: US Citizens

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2
Sep
2011

IRS voluntary disclosure deadline looms for US citizens in Canada

By David Christianson, BA, CFP, R.F.P., TEP

There has been an amazing amount of publicity and hype in the last few weeks about the US Internal Revenue Service (IRS) and the August 31 deadline for US taxpayers – including those living in Canada – to participate in the latest IRS voluntary disclosure program.
Let’s try to sort through all the noise and lay [...]

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Categories: Tax - current issues, US Citizens

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26
Aug
2011

Lessons in investor psychology

By David Christianson, BA, CFP, R.F.P., TEP

IRS saga reveals many different approaches to perceiving reality
It’s been an interesting week. Last Friday, we reminded you that US citizens living in Canada are required to file US tax returns and reports on their “foreign” (Canadian) bank and investment accounts.
Although these requirements have been in place for decades, recent publicity and an IRS voluntary [...]

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Categories: Tax - current issues, US Citizens

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15
Oct
2010

US citizens and green card holders – the IRS really wants you now

By David Christianson, BA, CFP, R.F.P., TEP

Stop me if I’ve told you this one…
I hate to be the bearer of bad news, but any Canadian resident who is a US citizen or who holds a green card or other type of work permit for the US is required to file a US tax return each year.
This is true even if you [...]

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Categories: Cross Border Issues, Snow Birds, US Citizens

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11
Jun
2010

American tax compliance regime getting tougher

By David Christianson, BA, CFP, R.F.P., TEP

Read this column if you or someone you know was born in the US, holds a green card (work permit), travel to the US for an extended period in the winter, or have another close connection to America.
The American Internal Revenue Service (IRS) is more interested in you than ever.
We have written in the past [...]

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Categories: Cross Border Issues, Retirement, US Citizens

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16
Jan
2010

“US persons” in Canada be aware of your obligations

By David Christianson, BA, CFP, R.F.P., TEP

This column is an alert to all U.S. citizens or U.S. green card holders living in Canada.  Have you been filing your U.S. tax returns each year, as you are required?
Your deadline is April 15, though non-residents of the US get an automatic extension to June 15.
America taxes on citizenship rather than residency, while Canada [...]

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Categories: Cross Border Issues, Tax - current issues, US Citizens

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