Tax planning

[Melody1920 3]

Can someone suggest an accountant who is an expert in cross border tax planning ? 
specifically I have questions about what date am I US resident … would it be when I first enter usa using my IR visa even if I come back to Canada to vacate my apartment?

 

also are my non registered assets automatically considered as disposed and do I have To pay tax on it ?

[Crtcl Rice Theory 2,432]

On 7/9/2021 at 8:46 PM, Melody1920 said:

Can someone suggest an accountant who is an expert in cross border tax planning ? 
specifically I have questions about what date am I US resident … would it be when I first enter usa using my IR visa even if I come back to Canada to vacate my apartment?

 

also are my non registered assets automatically considered as disposed and do I have To pay tax on it ?

Finding a good crossborder chartered accountant is a great idea.  

 

On the tax free accounts, migration doesn't impact those accounts. They stay intact and we even manage ours through RBC remotely. We are a bit away from taking distributions, so I cannot speak to how we will handle that. 

 

 

 

[Crtcl Rice Theory 2,432]

More response:

 

When you bring your packet to cross the border and "break the seal" you start your LPR status. I would recommend you import your car at that visit unless you are using a service.  There is no reason you cannot go back to Canada and finish packing and move. If you cross the border back into the US, remember that where you live "where's home" is your new UD address.Keep the covid constraints in mind coming back to Canada..  

 

 

[CB and JB 11]

On 7/9/2021 at 11:46 PM, Melody1920 said:

Can someone suggest an accountant who is an expert in cross border tax planning ? 
specifically I have questions about what date am I US resident … would it be when I first enter usa using my IR visa even if I come back to Canada to vacate my apartment?

 

also are my non registered assets automatically considered as disposed and do I have To pay tax on it ?

I've used American Expat Tax Services for the past two tax years and am happy with the service they've given me.  

https://www.amexpattax.com/

https://www.amexpattax.com/client-handouts/

 

Here's the Canadian Revenue Agency's position on deemed disposition of assets, including a list of assets that would be exempt from deemed disposition taxes.  

https://www.canada.ca/en/revenue-agency/services/tax/international-non-residents/individuals-leaving-entering-canada-non-residents/dispositions-property.html