Americans in Canada face complex situation Just Me suggested a separate post of this Star Phoenix (Saskatoon) article that badger highlighted. I was happy to see the acknowledgement of the problem with account and asset reporting: …”The problem is not in-come tax. The problems are the punitive IRS penalties and criminal prosecution threats for failure
Assuring the Care of a Family Member with Special Needs — but how does that work for a US Person in Canada? James M. Hayes, a lawyer in Binghamton, N.Y., who specializes in estate and other planning for people with special needs and has a developmentally disabled adult son, put it more bluntly. “I’ve never felt
Direct effects of U.S. tax compliance on residents of Canada or other countries It's time for all #Americansabroad and those who oppose U.S. "taxation-based citizenship" to unite by agreeing on the "principle" and achieving the result that: "The United States should not impose worldwide taxation on people who have @taxresidency and live in other countries".
Dual US/CA citizenship that costs $3,000 a year in accounting bills alone forces retiring couple to tread carefully https://t.co/7frwXnHaUH — U.S. Citizen Abroad (@USCitizenAbroad) February 11, 2017 The above tweet references an article in the Financial Post describing the challenges of this couple in planning for retirement. With reference to the U.S. citizenship problem the
I just noticed a comment from EmBee, who passed on to Brock a Maple Sandbox comment from “Anthony”, apparently a “Canadian lawyer”. — Anthony actually says that the U.S. is planning to have homes of U.S.-tainted Canadian citizens FBAR’d (annual resale values etc. reported). Nonsense? Just a scare tactic? If true, would this be that
This system will be fully functioning by spring of 2015. US persons should be fully informed of this procedure by that time. Follows is information about events which should be considered versus your personal safety. It is up to each individual to determine if he/she is comfortable with this situation in these locations. This is
Yesterday I saw a “planning ahead” question relating to taking into account US citizenship of a prospective spouse before your marriage in a country outside the US (and perhaps even within the US if you as a couple or a family would ever plan to live in another country than the US). Due diligence is
[http://www.youtube.com/watch?v=NzlG28B-R8Y] _________________________________________________________________________________ Home ownership good tax free investment in Canada natpo.st/OEiX37 – but not tax free cap gain for US citizens – renounceuscitizenship.wordpress.com/2012/08/17/u-s… — U.S. Citizen Abroad (@USCitizenAbroad) September 19, 2012 Interesting article in today’s National Post. Question: This article makes the point that home ownership is treated as a retirement
I found this article on the Moodys Tax Weekly: Life Expectancy, Retirement Planning? It seems to me that any effective, responsible retirement / estate planning, leaving something behind for our families, can drastically change when taking into account US citizenship-based taxation, excessive penalties (vs actual taxes owed to the US). If we have been able to do
Resolved: #americansabroaddisabled from effective retirement planning – your thoughts? isaacbrocksociety.ca/2012/06/17/u-s… #FATCA #FBAR #expats #OVDI — U.S. Citizen Abroad (@USCitizenAbroad) June 17, 2012 Subject to applying for an extension, your U.S. tax return was due this past Friday June 15. During tax season, the discussion of the problems of citizenship-based taxation have become louder
