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Hi everyone Just uploaded a new video to youtube explaining some requirements for US expats. Hope you enjoy!
As many of you are already aware the Internal Revenue Service has launched (February 2011) a new Offshore Voluntary Disclosure Initiative. This initiative is similar to the 2009 Voluntary Disclosure Initiative, however some changes have been made. First, the...
If you're a US citizen or green card holder living in Canada and have not yet caught up on filing your US tax returns now is a great time to take advantage of the IRS's new streamlined tax filing...
Question Hello, I am a self employed Canadian and US citizen residing in Canada. I file Canadian and US income taxes each year on worldwide income with foreigh tax credits/exclusions.  I am going to marry a US citizen who resides in Massachusetts (he is...
Question Hello, I have a question...I'm planning on moving to Canada (I'm a US citizen) in the next few months and I'm wondering whether I should convert my existing IRA ($200,000) to a ROTH IRA or enter Canada and roll it...
Question Hello Phil, I have what I hope is a simple question. If a Canadian resident earns interest income on money invested in the US, does the Canadian resident then have to file US income tax? If so, is an ITIN number needed by...
Question Hi Phil I own a BC corporation and I'm starting to do some business in California. I sell online goods to residents of California and I plan on expanding the business to other states on the west coast and perhaps...
Question Hi I run a successful online marketing business in Vancouver that I have been involved with since 2002. I'm getting a lot of conflicting advice on whether or not I should incorporate by business. Let me give you some facts...
Question Hello, I've lived in Canada for over 22 years and I haven't filed a US tax return since I moved here (Ontario). Is the IRS going to want 22 years of tax returns filed? I don't think I could even...
Question Hello, I moved from Canada in 2003 and left my RRSP in Canada. I'm planning on withdrawing $10,000 from the RRSP this year. How much Canadian tax will they withhold? Thanks for your time. XXXXX Answer Hi XXX Canada will withhold 25% of the RRSP...