Red Flags

 Cross Border Tax, Estate Planning and Real Estate

There are many “red flags” that identify when someone may have a cross border issue. Below is a list of common red flags/scenarios that our professionals work through regularly, and the issues that are often associated with each red flag.

Red Flag
Issues

Red Flag

My client has real estate in the US

US Estate Tax, Probate, Rental Income, Withholding Tax

Red Flag

My client is selling or plans to sell US Real Estate

Capital Gains Tax, Withholding Tax

Red Flag

My client is buying or plans to purchase US Real Estate

Ownership Structure, Probate, Incapacity, Creditors & Divorce

Red Flag

My client has substantial US assets; over US $60,000 inside or outside a registered investment

Probate, Incapacity, US Estate Tax, Creditors, Divorce

Red Flag

My US client is a future beneficiary of an estate or family trust.

Foreign Trust Issues, Filing Obligations

Red Flag

My client is spending more than 120 days in the US

US Residence, Filing Obligations

Red Flag

My client is a US citizen or green card holder

US Residence, US Income Tax, Estate and Gift Tax

Red Flag

My client has dual citizenship

Tax treaty issues, US Filing Obligations

Red Flag

My client is married to a US citizen

US Estate Tax Planning Opportunities

Red Flag

My corporate client including, Canadian Holdco, has a US resident or US citizen shareholder

Withholding Tax, IRS Disclosure, Income Attribution