Paragraph 60(j) of the Income Tax Act allows Canadians who worked abroad to transfer eligible lump-sum foreign pension payments into an RRSP without using contribution room. This can defer tax, consolidate retirement savings, and potentially apply foreign tax credits. Only qualifying pension plans are eligible, and proper reporting is required, making professional cross-border tax advice essential.

U.S. green card holders living in Canada face dual tax residency, extensive reporting duties, and potential exposure to double taxation. With treaty benefits, foreign tax credits, and proper planning, individuals can stay compliant and minimize cross-border tax burdens.

U.S. green card holders living in Canada face dual tax residency, extensive reporting duties, and potential exposure to double taxation. With treaty benefits, foreign tax credits, and proper planning, individuals can stay compliant and minimize cross-border tax burdens.

U.S. citizens and green card holders must file U.S. tax returns and report worldwide income, even while living abroad. Filing is required if income meets IRS thresholds ($15,000 for single filers, $30,000 for joint filers in 2025). You may reduce double taxation with the Foreign Earned Income Exclusion or Foreign Tax Credit, but must claim them. Self-employment income, FBAR, and Form 8938 may also apply. Staying compliant helps avoid penalties and maintain good financial stan

Canada’s 2025 Federal Budget introduces key tax changes, including eliminating the Underused Housing Tax starting in 2025, clarifying new bare trust reporting rules, and adjusting credits such as the Home Accessibility Tax Credit. It also adds a new refundable credit for personal support workers and removes the luxury tax on boats and aircraft, aiming to simplify compliance and support targeted groups.

This article offers a thorough overview of the U.S. withholding tax regime related to international payments. It discusses identifying payment types, determining payee status, applying relevant withholding rules, treaty relief, documentation and reporting requirements, and practical steps for compliance. The goal is to assist withholding agents and U.S. payors in fulfilling their obligations and minimizing the risk of penalties.

Canadian investors in U.S. LLCs face complex tax issues due to differing U.S. and Canadian classifications. While the U.S. treats LLCs as flow-through entities, Canada views them as corporations, often causing double taxation and heavy compliance burdens. Careful planning—such as using U.S. C-corporations or alternative structures—can help align tax treatment and reduce cross-border inefficiencies.

Overview of Non-Resident Withholding Tax on Canadian Dividends

On September 25, 2025, the Supreme Court of Pennsylvania affirmed a lower court decision declaring that Pittsburgh's “jock tax” does not comply with the Pennsylvania Constitution.

What kind of tax consequences will a Canadian resident athlete, like McKenna, who is scheduled to earn income from his name, image, and likeness (NIL) through advertising or other campaigns, face in both the United States and Canada?

The Canada Revenue Agency (CRA) is implementing significant changes to the Voluntary Disclosures Program (VDP) effective October 1, 2025. The VDP is designed to encourage taxpayers to come forward and correct past errors or omissions in their tax filings, offering relief from penalties and, in some cases, interest. The new rules aim to make the program more accessible, transparent, and fair, while maintaining the integrity of the tax system.

The House and Senate passed the reconciliation bill, “One, Big, Beautiful Bill” (“the Bill”), on July 3, 2025, which was signed by President Donald Trump on July 4, 2025. The Bill incorporates the tax cuts promised by U.S. President Donald Trump during his campaign.

The U.S. House of Representatives recently passed H.R. 1, the “One Big Beautiful Bill Act”. How the Proposed Changes Might Impact Canadians

Thinking of flipping and selling a property within a year? The anti-flipping tax rules could quickly turn your profit into a tax liability. What was once a popular real estate strategy now comes with strict tax consequences. Without careful planning, you might end up handing over more to the CRA than expected.

Canadian Federal Budget 2024 proposed an increase to the capital gains inclusion rate for capital gains realized on or after June 25...

Former Toronto Blue Jays all-stars Russell Martin and Josh Donaldson scored a significant victory vs the Canada Revenue Agency (CRA) as a...

Short-term rentals provide an opportunity to generate additional income; however, they may come with hidden tax implications.

This article explores the potential tax changes and their implications in light of the outcomes of the 2024 U.S. presidential election.

Here's how outsourcing can transform your business operations—and why Trowbridge Professional Corporation is your ideal partner.

When we have tax consultations with individuals who are either permanently transferred or being sent on an extended assignment into...