On the March 29th episode of Dollars and Sense on CJAD 800 AM, host, Matt Altro and legal expert David A. Altro discuss buying property in the U.S. and how Altro & Associates helps Canadians with this process.
David explains the U.S. estate tax laws and the rules for who and what is exposed to this tax. Lisa calls in with a question about how to go about setting a Cross Border Trust and if it is better to set up a trust before or after you purchase property in the U.S. George asks David about worldwide income and if assets overseas count as part of this for tax purposes. John, an accountant from Montreal asks how to reduce tax for Americans living in Canada. Read the rest of this entry »
On the February 23rd episode of Dollars and Sense on CJAD 800 AM, host, Matt Altro and legal expert David A. Altro discuss cross border issues including how the U.S. presidential election will affect Canadians who own property in the U.S. Specifically, the upcoming changes to the U.S. estate tax laws.
David explains capital gains tax rates in the U.S. and the various tax rates for different ownership structures.
Matt and David take a caller question from Seth about fees for Canadians upon purchasing U.S. property and explain the issue of probate using an example from a real-life client.
In Part 3, Dino calls in with a question about various structures to hold title of U.S. property. Lyne is also concerned about putting an inherited property in her name.
Sheldon is very concerned about tax after a meeting with his accountant in Canada. David explains the taxes owed for Canadians who own property in the U.S. including U.S. estate tax exposure, gift tax and more.
They discuss renting vs. buying property in the U.S., the questions to consider when choosing the right structure to hold title of your property, the state of the real estate market in Florida, how to protect yourself and your family from the U.S. probate procedure, creditors, taxes and much more. Read the rest of this entry »