/Publication

Publication

12 06, 2013

The New U.S. Immigration Bill – Impacts to Canadians Spending More Time in the U.S.

In recent weeks, there has been extensive news coverage on the Gang of Eight’s U.S. Immigration reform bill. If the new bill were to pass, U.S. Immigration (USCIS) would extend the amount of days a Canadian can spend in the U.S. from 180 to 240 per year. Many Canadian Snowbirds are delighted that their 6-month sunny [...]

18 02, 2013

David A. Altro’s Book Available as an eBook

The second edition of the book Owning U.S. Property - the Canadian Way by David A. Altro has been available for just over a year and has experienced great success and received praise by readers. In order to make the book more available, we have very recently released it as an eBook for the Kindle. The [...]

19 10, 2012

Gift Tax Developments

While it is possible to donate property in Canada without any tax consequences, it is quite a different affair for Canadians in the United States. Thus, it is important for Canadians holding assets in the U.S. to be informed about the rules underlying the donation, without which the noble intention of offering a present to someone [...]

4 07, 2012

IRS Simplifies Compliance for Americans in Canada

Being an American citizen is, for many around the world, a highly sought after position. Some might call it a gift, though I doubt the United States IRS would classify it that way. In fact, for the IRS, American citizenship is only one half of the bargain. At least, this appears to be the mindset behind [...]

5 06, 2012

David A. Altro and Matt Altro published in STEP Journal – June 2012

Canadian departure tax: obstacle or opportunity? By David A. Altro, B.A., LL.L, J.D, D.D.N, Fin. Pl., TEP and Matt Altro, B.Comm., CFP®, F. PL. Canadians move to the US for a variety of reasons. Proximity to family, lifestyle, sunny weather, employment, health issues and lower income tax rates are some of the more popular reasons. If [...]

27 04, 2012

Pop Culture and the Trust by Bonnie L. Altro

While reading a recent edition of O Magazine, I came across Suze Orman’s monthly column. For those who don’t know, Ms. Orman is a financial expert and has written many books on financial prosperity. She was a frequent guest on The Oprah Winfrey Show and now has her own show on Oprah’s network. The column addressed how to be smart about your assets by protecting your estate from unnecessary costs and delays when you pass away. And what was her suggestion to achieve this peace of mind? A trust. For most Canadians, owning property in a trust is a new concept. They have never thought of holding property this way, and when they hear about all of the benefits, they have a number of reactions. Some love the idea and start to question why their Canadian estates aren’t organized in the way we suggest that their U.S. estate be arranged. Some are less enamored by the concept of a trust and worry that the trust will cause complications in connection with the purchase or may scare off the seller. I assure them that this won’t be the case. I explain that using a trust to hold U.S. assets is not something we recommend to solely to Canadians, but that this is the recommended approach for Americans as well. And to back me up on this, like I do with so many things, I quote Oprah. Ok, maybe in this case, it is not Oprah directly, but Oprah’s trusted advisor, Suze Orman. […]

26 04, 2012

How Should Canadian Snowbirds Take Title to Arizona Real Estate? It Depends!

Canadians have long sought to escape harsh winters by spending time in the American Sunbelt. In recent years, with the dollar near parity, the depressed US real estate values, and a relatively strong Canadian economy, Snowbirds have shown stronger interest than ever in purchasing that winter get-away. The perennial question remains, however: what is the best [...]

25 02, 2012

Tax Strategy: Marriage affects tax exemption on principal home

Tax Strategy: Marriage affects tax exemption on principal home David A. Altro is a frequent contributor to Paul Delean's business column in the Montreal Gazette. Click here to view the article online or scroll down to read David's answers to the second and third questions. PAUL DELEAN The Gazette Monday, February 20, 2012 The impact of [...]

16 02, 2012

Frozen Over

Frozen Over By David A. Altro and Ben Jeske Estate freezes have been in Canada since the introduction of federal capital gains taxation 40 years ago. Along with the capital gains tax (CGT) on properties sold by taxpayers, the so-called death tax was also brought in. Essentially, when a taxpayer dies, they are deemed to have [...]

14 12, 2011

Modified Carryover Basis Regime – U.S. Estate Tax for Deaths that Occurred in 2010

On Dec. 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act. Among other provisions, the Tax Relief Act modified and extended the estate tax provisions of 2010 through Dec. 31, 2012 only, resulting in a retroactive reinstatement of the U.S. estate tax for deaths that occurred in 2010. [...]

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Owning U.S Property – The Canadian Way, 3rd Edition by David A. Altro

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Americans Living In Canada – Smile, The Irs Is Watching You By David A. Altro And Jonah Z. Spiegelman

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