Dec 26, 2014 | Personal U.S. expat taxes
Merry Christmas everyone. So, now the topic that all the good boys and girls were waiting for: Santa Taxation. * Is that thing that you found under the Christmas tree taxable income? This reminds us of the court case of Cesarini v. United States: taxpayer found cash... 
Dec 14, 2014 | FBAR and FATCA, Personal U.S. expat taxes
Until now, non-residents who didn’t meet the substantial presence test didn’t need to file form 8843. Or they used a closer connection exemption (form 8840) and didn’t have to file form 8938. The latter form is the FATCA version of the foreign asset... 
Nov 3, 2014 | Personal U.S. expat taxes
Canada-U.S. Tax Treaty Article XXIX B Taxes Imposed by Reason of Death A U.S. estate tax return must be filed if a deceased Canadian resident who is not an American citizen-owned U.S.-situated asset exceeding $60,000 fair market value at death. However, if the... 
Nov 2, 2014 | Personal U.S. expat taxes
As many of you know, the United States has implemented FATCA (Foreign Account Tax Compliance Act), requiring financial institutions around the world to report the names of their depositors who are US persons (hence potentially liable to pay US tax) – or else face a... 
Sep 19, 2014 | Personal U.S. expat taxes
Hello snowbirds, winter’s coming, time to move south! Will I become a US person subject to US taxation on my worldwide income? According to the domestic tax laws of the United States, the substantial presence test (“SPT”) is used to determine the residency...