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On March 14, 2016 the U.S. and Canadian governments signed a new pre-clearance customs agreement. According to the Department of Homeland Security, the pre-clearance agreement “will benefit travelers and trade by reducing congestion and increasing efficiency at the border”. This will be accomplished by expanding customs pre-clearance locations in Canada to reduce waiting time, and...
At AG Tax LLP, U.S. Canadian cross-border taxpayers frequently inquire about dual status tax filings. The following is a brief overview on dual status tax filing for a Canadian citizen or resident moving or travelling to the U.S. prepared by AG Tax cross-border tax analysts. It is important and highly recommended to discuss all residency...
As a taxpayer, one should always be informed about one’s tax responsibilities. This includes filing tax returns on time, paying tax liabilities, checking all notices and mail received from the tax authorities, responding to those that require a response, and maintaining record of past years returns and other relevant documents for a certain period of time,...
The ease of movement between Canada and the United States leads to many Canadians owning properties in the U.S. and many U.S. citizens owning properties in Canada. Due to the popularity of Canadians owning rental properties in the U.S. to spend their winters, many tax articles tend to cover the taxation of U.S. property owned...
As digitalization continues to rise, so do online transactions. Bitcoin was introduced to help ease these transactions. Not only is Bitcoin considered a digital currency but also a great form of investment; because of this many Canadians have been investing in Bitcoin in the recent years. However, Canadian taxpayers should be aware that the Canada Revenue Agency...
Being a business owner is not easy, especially if it is at a growing phase; and at this stage it is all the more difficult to concentrate on other aspects, such as: tax payments, miscellaneous expenses or county/local taxes. AG Tax has summarized a few of these issues based on some of our clients’ situations, and...
The U.S. real estate market has been improving due to many Canadians selling their U.S. vacation properties. Because non-resident owners of U.S. property are subject to the Foreign Investment in Real Property Tax Act (FIRPTA) regulation, i.e. there is a 10% withholding requirement on the sale proceeds from the property. In December, 2015, the U.S. government updated...
As the social media world expands blogging and vlogging (video blogs) activities have been on the rise. These activities have become so profitable that many individuals have been pursuing it on a full-time basis, and earning significant income to support their lifestyle. Since blogging is sometimes treated like a paid hobby which can be pursued...
The recent “Panama Papers” leak brought to light the offshore financial dealings of various well-known individuals around the world, including many Canadians. The Canada Revenue Agency (CRA) has decided to pursue these revelations to identify not only the Canadians involved in these activities but also whether these Canadian residents were using offshore havens to avoid...
With the 2016 U.S. Presidential elections coming to a end, there has been a sudden surge on Google Search for information on settling in Canada. Unfortunately, settling in another country is not simple, especially for U.S. citizens who are not only subject to U.S. tax formalities regardless of whether they reside within or outside the United...
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ABOUTAylett Grant Tax, LLP
With offices across Canada, we are positioned to manage and process the full scope of your Canadian, US and US Canada cross-border tax filing needs.ABOUTAG Tax LLP
With offices across Canada, we are positioned to manage and process the full scope of your Canadian, US and US Canada cross-border tax filing needs.OFFICEVancouver
12752 28th Ave, Surrey, BC, V4A 2P4OFFICEEdmonton
104–4220 98 St NW Edmonton AB, T6E 6A1