Tax Tips if You’re Headed (back) to Canada

This episode focuses on the unique challenges faced by Canadians living and working in the United States and those planning to return to Canada. The conversation covers topics such as cross-border taxation, immigration issues, and retirement planning. The guests, Jerry Scott and Craig Wear, discuss the importance of finding the right professionals to navigate these complex issues and the need for proper planning to minimize tax liabilities. They also highlight the significance of filing the necessary elections and forms to ensure tax efficiency. The episode emphasizes the value of education and seeking expert advice in managing cross-border financial matters.

Find Gerry Scott Around the Web:

Snowbirds US Day Tracker:

www.snowbirdsusdaytracker.com

Snowbirds Wealth Management:

www.snowbirdswealthmanagement.com

Snowbirds Ex Pat Radio Podcast:

https://open.spotify.com/show/43fItjxqPBHTDbuRQdJhk3?si=9d0a9d23fe694aaf

Takeaways

Canadians living and working in the United States face unique challenges related to cross-border taxation and immigration issues.
Proper planning and finding the right professionals are crucial in minimizing tax liabilities and ensuring tax efficiency.
Filing the necessary elections and forms is essential for Canadians moving back to Canada to avoid potential tax consequences.
Education and seeking expert advice are key in managing cross-border financial matters and making informed decisions.

Chapters

00:00
Introduction and Unique Challenges for Canadians in the US

08:18
Jerry Scott's Business and Expertise in Cross-Border Financial Planning

27:04
Working with Canadians and Americans in Cross-Border Financial Matters

32:28
Exiting the US Properly and Avoiding Tax Issues

36:45
Conclusion and Call to Action