2,121 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 89 of 89, newest first.
Six steps: sever ties, inventory assets, file T1161 and T1243, settle RRSP and TFSA, check CPP/OAS, and shut down CRA benefits.
Cross-BorderCanada's departure tax skips both: RRSPs and TFSAs are excluded from the deemed sale that hits most other property. Covers key rules, filing requirements,.
Cross-BorderWithout a section 116 certificate, the buyer holds back 25% of the full sale price. File T2062 before closing. On a rented building the holdback is 50%.
Cross-BorderThe tax bill is only half the departure story. The unfiled T1161 and the unhandled US side of that gain are where people.
Cross-BorderNo definitive answer. The IRS has never ruled on TFSAs specifically. There's no definitive answer, because the IRS has never ruled on TFSAs specifically.
Cross-BorderFor most US residents, RRIF payments at Canada's 15% treaty rate cost less than an RRSP lump sum at 25%, but the gap is smaller once the US tax and foreign tax credit are counted.
Cross-BorderMost Canadian streamlined files cost US$2,500 to $4,500 in CPA fees, and a typical employee file owes $0 US tax. TFSAs, RESPs and Canadian funds are what move the price.
Cross-BorderA $1,200 TFSA quote usually means protective Form 3520 and 3520-A filings for every account. Here's what that work involves and when the number is fair.
Cross-BorderCanada's departure tax is income tax on a deemed sale of your property at fair market value the day you stop being resident. Half the gain is taxed at your own rates.