Upcoming Radio Show: May 19, 2015

 
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Tonight, May 19th tune-in to CJAD 800AM at 7PM to hear David A. Altro and Matt C. Altro discuss cross border issues. During the show we will be answering caller questions, but you can submit your questions now and we will answer them on-air.
 
There are multiple ways to submit a question for our next show:
 

 
If you submit a question remember to tune-in to CJAD 800AM at 7PM tonight.
 
For a full list of upcoming radio shows, please click here.
 
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The Montreal Gazette – Tax Strategy: Keep taxman apprised when converting a home into a rental

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Matt C. Altro is a regular contributor to Paul Delean’s business column in the Montreal Gazette. Click here to view the article online or scroll down to read Matt’s answer to the second question below.
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Advisor.ca – New Trust Rules Impact US Citizens in Canada

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David A. Altro and Heela Donsky recently wrote an article which appeared on Advisor.ca and in the Advisor’s Edge magazine. In the article, David and Heela explain the impact of new trust rules for US citizens living in Canada. Read the rest of this entry »

Cross Border Estate Planning: Gifting to US Resident Children

Blog by Heela Donsky

Canadian parents are no strangers to losing their kids to the US – some may leave Canada to study in the US never to return, while others are recruited by US companies and sponsored by them for immigration purposes.

Once becoming a US person, the child becomes subject to the dreaded US gift and estate tax regime. Click here for a review of these rules. While this may not have an immediate impact on a child whose assets are below the exemption amount of $5.34 million USD, the child may be impacted downstream once he or she has amassed some personal wealth and/or received an inheritance from mom/dad’s Canadian estate. Read the rest of this entry »

Expatriate Tax Issues and Strategies: The IRS Eases Reporting Requirements for RRSPs

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Canadians move to the U.S. for a variety of reasons. Some Canadians are drawn to states like California, Florida and Arizona, which offer the promise of year-round warmth and sunshine; others may want to be close to family members who live in the U.S.; and others might be permanently relocated south of the border by their employers, a move which can have significant tax consequences for employees, such as being subject to departure tax or U.S. estate tax.

While moving to the U.S. is appealing to many Canadians, Canadian expats must consider their cross-border tax obligations once they are on the other side of the border. Navigating the rough terrain of expatriation tax and other cross-border taxes can be a challenge, but there is some new relief for expats who maintain RRSPs in Canada. Read the rest of this entry »

April 2015 – Dollars and Sense Radio Show on CJAD

 
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Montreal, Quebec – April 1st 2015

 
On the April 1st episode of Dollars and Sense on CJAD 800 AM, David A. Altro, Florida Attorney, Canadian Legal Advisor and Quebec Notary, Managing Partner at Altro Levy LLP and Executive Vice-President at MCA Cross Border Advisors Inc. discussed several cross border topics.
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Considering a Condo? A Checklist for Canadians Investing in US Real Estate

Blog by Shlomi Steve Levy
 
Last fall, I wrote about the benefits of buying property in the US sunbelt, particularly in Florida, which is currently experiencing a post-recession renaissance. Now, as the state’s economy continues to recover, more and more visitors are heading to the Sunshine State: 2014 saw a record number of 97.3 million visitors, up 3.9 percent from 2013. Canadians comprised 3.8 million of these visitors, also a record high, up 2.4 percent from the number of Canadians who visited Florida in 2013.
 
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Upcoming Radio Show: April 1st, 2015

 
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On Wednesday April 1st tune-in to CJAD 800AM at 7PM to hear David A. Altro discuss cross border issues. During the show we will be answering caller questions, but you can submit your questions now and we will answer them on-air.
 
There are multiple ways to submit a question for our next show:
 

 
If you submit a question remember to tune-in to CJAD 800AM at 7PM on Wednesday March 18.
 
For a full list of upcoming radio shows, please click here.
 
Read the rest of this entry »

Financial Post – Want to buy property in the U.S.? Read this first

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Shlomi Steve Levy was recently interviewed by Bev Cline for an article which appeared in the Financial Post section of the National Post. In the article, Bev asks Shlomi about how Canadians should purchase US real estate and the special considerations that apply to such cross border purchases. Read the rest of this entry »

February 2015 – Dollars and Sense Radio Show on CJAD

 
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Montreal, Quebec – February 17th, 2015

 
On the February 17th episode of Dollars and Sense on CJAD 800 AM, Matt C. Altro, Cross Border Financial Planner, Partner & COO at Altro Levy LLP and President & CEO at MCA Cross Border Advisors Inc. discussed several cross border topics.
 
Having recently returned from a business trip to Florida where Matt was an invited guest speaker at a Canadian club of Snowbirds in The Villages, FL he took the opportunity to review common questions which he was asked by Snowbirds during his trip. In doing so, he discussed visa & green card options, income tax traps for Americans living in Canada, FATCA, expatriation, tax treatment of RRSPs once resident in the US, life insurance considerations for Canadians moving to the US, and Canadian departure tax. Read the rest of this entry »