971 plain-English guides on cross-border moves, US and Canadian returns, and small-business money. Each one ends in what to do next, and says when a written Diagnostic is the smarter first step.
Page 32 of 41, newest first.
A Canadian RRSP or RRIF that was tax-deferred for decades becomes fully taxable when the holder dies.
US TaxTraditional rentals go on Schedule E. The default for rental real estate income is Schedule E, where it is not subject to self-employment tax.
Cross-BorderSDOP and SFOP are one streamlined program with two tracks. Miss the non-residency call and a $500,000 balance costs $25,000 instead of zero.
US TaxA self-directed IRA can buy real estate, but if the IRA uses a mortgage (non-recourse debt) to fund the purchase.
Cross-BorderSelling a US vacation rental as a Canadian resident triggers filings on both sides of the border, and the sequencing matters.
Cross-BorderThe complete tax picture when a Canadian snowbird rents a Florida condo on Airbnb part of the year: US reporting, the 871(d) election, IRC 280A.
Cross-BorderA Canadian spousal trust lets you transfer property to a trust for your spouse's benefit without triggering an immediate tax bill.
US TaxA short-term rental with an average stay of 7 days or less is not a rental activity for passive loss rules.
Cross-BorderAn RRSP gets treaty deferral and light reporting. A TFSA gets none of that: it's a foreign trust, taxed every year, on Forms 3520 and 3520-A.
Cross-BorderIf your bank in London, Frankfurt, Tel Aviv, Dubai, Singapore, or Sydney sent you a letter asking for a US tax identification number you don't have.
Cross-BorderAfter you submit streamlined returns and FBARs, here's what the IRS actually does with them, the real audit risk, and what you owe going forward.
Cross-BorderA snowbird who crossed the substantial presence threshold may owe no US tax but face steep FBAR and Form 8938 penalties. Streamlined filing closes the gap.
Cross-BorderStreamlined filing isn't a rubber stamp. The IRS rejects incomplete packages, wrong track selections, and weak non-willfulness certifications.
Cross-BorderA streamlined catch-up is already a reconstruction project: three years of returns, six years of FBARs, one non-willfulness statement.
Cross-BorderMost IRS streamlined guidance reads as if you're a single filer. You have unreported accounts, you file the package, and you're done.
Cross-BorderRetirees collecting CPP, OAS, RRIF, or private pensions in Canada can catch up through SFOP with zero penalty.
Cross-BorderSelf-employment makes streamlined filing harder and costlier: Schedule C, SE tax in arrears, estimated tax penalties that survive, Form 5471, QBI.
Cross-BorderYou filed the streamlined package. Three years of federal returns, six years of FBARs, the certification, maybe the 5% penalty check.
Cross-BorderSFOP clears five IRS penalty categories for qualifying non-willful citizens and green card holders abroad.
Cross-BorderUsually yes, but the green card raises a second question streamlined alone doesn't answer: are you still a US tax resident, and do you want to be?
Cross-BorderThe non-willfulness certification, Form 14653 if you live outside the United States, Form 14654 if you live inside it.
Cross-BorderThe IRS Streamlined Filing Compliance Procedures are the most commonly recommended path for US persons who are behind on their offshore reporting.
Cross-BorderCanadian mutual funds are PFICs, RRSP and TFSA holdings included, and each needs its own Form 8621 every covered year.
Cross-BorderA testamentary trust is any trust that arises on (and because of) a person's death, typically created by a will.