According to the Canada-U.S. tax treaty Canadians are allowed to spend a maximum of 182 days in the U.S. If they exceed their allotted number of days, Canadians may be subject to serious problems such as double taxation and the loss of their Canadian medical coverage. Our firm has extensive experience in assisting clients with the tax, immigration and estate planning that allows them to achieve their new cross border lifestyle. In addition to the many lifestyle advantages, moving to the U.S. can also be a tax haven for many Canadians. Our team has a deep understanding of how the Canada-U.S. tax treaty functions and the many planning opportunities that arise for a Canadian moving to the U.S. such as; saving thousands of dollars in income tax per year and withdrawing an RRSP tax free.
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Cross Border Strategies and the Law – Moving to the U.S. – Click here to listen. |
Reasons Why Many Canadians Move to the U.S.
- Baby boomers who want to retire in a warmer climate such as Florida, Arizona or California;
- Parents who want to be closer to their children living in the U.S.;
- People who have a job opportunity in the U.S.;
- Investors who want to invest in a the U.S.;
- Business owners who want to open / expand their business in the U.S.;
We have developed particular expertise in the areas of:
- Pre-departure tax planning;
- Obtaining an investor category green card (“EB-5″);
- Tax planning for your RRSP / IRA / 401K;
- Income tax planning for a Canadian becoming a U.S. resident;
- U.S. estate tax for a Canadian becoming a U.S. resident;
- Creating corporate structures for setting up a business in the U.S. (LLCs, C Corp, S Corp, etc.);
- Probate planning;
- Incapacity planning;
- Asset protection.
Altro and Associates is a partner in Cross Border Planning Partners LLC, which specializes in creating the overall cross border plan for Canadians moving / retiring in the U.S.
Topical Issues:
- How to collapse / withdraw your RRSP;
- U.S. estate tax planning for a Canadian who is about to become a U.S. resident;
- U.S. estate tax planning in times where the laws are in flux;
- Obtaining U.S. medicare in times when then laws are in flux.
U.S. residency may save Canadians $200,000 on each additional million earned.
