Please wait, loading...

US estate tax professionals

Residence of Estate or Trust

November 1, 2013

Who controls your estate or trust? Their residence may have serious tax implications and it might not be where you expect. The Canada Revenue Agency (CRA) taxes on the basis of the resident status of an entity in a particular tax year. This can raise concerns about the residency status of an estate which is held...

Canada Us Tax estate taxes

U.S. Federal Estate & Inheritance Tax and State Filing Requirement

October 10, 2013

In the U.S., an individual’s estate, beyond a certain limit ($5,250,000 for 2013) is subject to federal taxes on his/her estate. Some state also impose an estate tax. Many taxpayers take the necessary measures to minimize estate taxes, but rarely prepare for an inheritance tax; often neglecting it from their estate planning. That being said,...