Saturday, September 23, 2017
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Inherited IRA from Father in the US. What are my options?

Question Hi Phil I inherited a fair sized IRA (over $600,000) from my US citizen father who resided in the US for over 30 years. My...

Starting a Business in Vancouver, Need Some Advice on an Appropriate...

Question Hi Phil I’m starting an application and gaming company with 2 close friends of mine in Vancouver. We’ve been told on multiple occasions that going...

Is your corporation at risk of being deemed a personal services...

If your corporation is deemed to be a personal services business (PSB) your corporation is no longer eligible for the small business deduction (SBD)...

Family Income Splitting for Doctors – A Significant Income Tax Saving...

Our physician clients are some of the higher paid professionals in BC. Some making well over $500,000 per year. At these income levels average...

Moving to BC with Lots of Money and Assets – Things...

Question I'm moving to Victoria BC at the end of the year and will need to setup a consultation to discuss my financial and tax...

Disclosing Offshore Investment Accounts to CRA – Don’t Let CRA Find...

I met with a client a few weeks ago that needed some advice on whether or not to disclose his Swiss offshore investment accounts....

How to Transfer my IRA to Canada (or into an RRSP)?

Question Hi Phil I moved to Canada in 2008 from Texas. I still have a sizable IRA in the US and in order to simplify my...

American Doctor Moving to Victoria BC

Question Hi, I'm a radiologist that will be moving up to Victoria in the summer to work on contract at the general hospital. I'm concerned...

Should I Incorporate my Business?

Question I've spoken to 2 separate accountants lately and each of them gave me different advice. One guy said I should definitely incorporate my business...

Cannabis, Income Tax and Justin Trudeau

Question Hi I have a close friend that runs a cannabis dispensary in Vancouver and he's doing quite well. He offered to help me open up...

New US Citizen in Canada video just posted!

Hi everyone Just uploaded a new video to youtube explaining some requirements for US expats. Hope you enjoy!

New Streamlined Procedures for US Citizens Living In Canada

If you're a US citizen or green card holder living in Canada and have not yet caught up on filing your US tax returns...

Should I convert my IRA before moving to Canada?

Question Hello, I have a question...I'm planning on moving to Canada (I'm a US citizen) in the next few months and I'm wondering whether I should...

Do I pay US tax on interest earned from the US?

Question Hello Phil, I have what I hope is a simple question. If a Canadian resident earns interest income on money invested in the US, does the...

Withdrawal of RRSP as a US Citizen and Resident

Question Hello, Just wanting to get some advice on withdrawing my RRSP to pay my house here in the US. I am a dual citizen...