AKIF CPA

#2 Common Mistake I See: Not claiming tax treaty benefits. We even have specific benefits just for Canadians! Doing everything right the first time is going to save you time, stress, and money. If you're evaluating an accountant for doing your cross-border taxes, or taxes before or after you move, make sure you ask: - What experience do you have with cross-border tax? - How will the tax treaty impact my situation? - How do I report my foreign assets? - How do I handle the assets I sell and keep? If you're not hearing words like deemed disposition, T1243, or stories of how they've helped other clients, KEEP LOOKING! Moving to ???? from ?????? ? Get help planning for a cross-border move, operations, and taxes:? ? ???? Houston Office: (713) 451-9700? ???? Toronto Office: (416) 800-2709? ? [email protected]? ??? www.akifcpa.com? ? Comment your questions and we’ll be happy to answer them in future videos!? ? #internationalmove #immigrationplanning #canadiansintheus #canadiansabroad #canadiansinamerica #canadaimmigration #usaimmigration #canadianexpat #leavingcanada

When you are leaving Canada, make sure you are reporting your deemed positions properly. The common issues with these I see are: - misreporting assets and value - underreporting assets (resulting in costs down the road) - over-reporting assets (resulting in fines down the road) - miscalculating capital gains (which has all sort of financial impacts) Make sure you vet your chartered accountant or tax preparer. So many accountants don't get the impact of misreporting deemed dispositions, and I don't get it! The impacts are lasting and can have an impact years down the road. Doing everything right the first time is going to save you time, stress, and money. If you're evaluating an accountant for doing your cross-border taxes, or taxes before or after you move, make sure you ask: - What experience do you have with cross-border tax? - How will the tax treaty impact my situation? - How do I report my foreign assets? - How do I handle the assets I sell and keep? If you're not hearing words like deemed disposition, T1243, stories of how they've helped other clients in the same situation, or they're not bringing new information to the table, KEEP LOOKING! Moving to ???? from ?????? ? Get help planning for a cross-border move, operations, and taxes:? ? ???? Houston Office: (713) 451-9700? ???? Toronto Office: (416) 800-2709? ? [email protected]? ??? www.akifcpa.com? ? Comment your questions and we’ll be happy to answer them in future videos!? ? #internationalmove #immigrationplanning #canadiansintheus #canadiansabroad #canadiansinamerica #canadaimmigration #usaimmigration #canadianexpat #leavingcanada

Before you immigrate to the US, remember this! How you do your last Canadian taxes before moving will impact your US taxes for years to come. 5 or 6 or even 10 years down the road, you may have to deal with miscalculations and you've been overtaxed or owe fines. Be sure to evaluate your chartered accountant, CPA, or tax-preparer's comfortability with cross-bordered returns. That chartered accountant you've worked with for years and love may not be the best fit for this specific tax return. It's important that you get the help you need to protect your assets. Moving to ???? from ?????? ? Get help planning for a cross-border move, operations, and taxes:? ? ???? Houston Office: (713) 451-9700? ???? Toronto Office: (416) 800-2709? ? [email protected]? ??? www.akifcpa.com? ? Comment your questions and we’ll be happy to answer them in future videos!? ? #internationalmove #immigrationplanning #canadiansintheus #canadiansabroad #canadiansinamerica #canadaimmigration #usaimmigration #canadianexpat #leavingcanada

So many accountants don't get the impact of misreporting deemed dispositions, and I don't get it! The impacts are lasting and can have an impact years down the road. Doing everything right the first time is going to save you time, stress, and money. If you're evaluating an accountant for doing your cross-border taxes, or taxes before or after you move, make sure you ask: - What experience do you have with cross-border tax? - How will the tax treaty impact my situation? - How do I report my foreign assets? - How do I handle the assets I sell and keep? If you're not hearing words like deemed disposition, T1243, or stories of how they've helped other clients, KEEP LOOKING! Moving to ???? from ?????? ? Get help planning for a cross-border move, operations, and taxes:? ? ???? Houston Office: (713) 451-9700? ???? Toronto Office: (416) 800-2709? ? [email protected]? ??? www.akifcpa.com? ? Comment your questions and we’ll be happy to answer them in future videos!? ? #internationalmove #immigrationplanning #canadiansintheus #canadiansabroad #canadiansinamerica #canadaimmigration #usaimmigration #canadianexpat #leavingcanada

#1 mistake I see in cross-border tax is mistake on deemed disposition. Miscalculations, forgetting to include the primary home, missing out on capital gains. Don't end up being a client blunder. Make sure you know that your tax preparer has worked with cross-border taxation and understands what you need to do. Moving to ???? from ?????? ? Get help planning for a cross-border move, operations, and taxes:? ? ???? Houston Office: (713) 451-9700? ???? Toronto Office: (416) 800-2709? ? [email protected]? ??? www.akifcpa.com? ? Comment your questions and we’ll be happy to answer them in future videos!? ? #internationalmove #immigrationplanning #canadiansintheus #canadiansabroad #canadiansinamerica #canadaimmigration #usaimmigration #canadianexpat #leavingcanada

Remember, most CPAs, Chartered Accountants, and tax preparers are used to domestic taxes. They don't fully understand cross-border tax. Three mistakes I see all the time: 1. Miscalculating deemed disposition ($$$$ in fines and fees) 2. Not taking advantage of the tax treaty ($$ in double taxation) 3. Forgetting to report foreign assets ($ left on the table) This has bigger consequences than just the first filing. I've seen people 5 years down the road realizing they've paid extra taxes they won't get back or owing thousands of dollars because their deemed disposition wasn't handled properly. Make sure you ask your potential tax preparer if they know about these three things and what their experience is with cross-border taxes. Moving to ???? from ?????? ? Get help planning for a cross-border move, operations, and taxes:? ? ???? Houston Office: (713) 451-9700? ???? Toronto Office: (416) 800-2709? ? [email protected]? ??? www.akifcpa.com? ? Comment your questions and we’ll be happy to answer them in future videos!? ? #internationalmove #immigrationplanning #canadiansintheus #canadiansabroad #canadiansinamerica #canadaimmigration #usaimmigration #canadianexpat #leavingcanada

New videos coming out! I'm going to walk through the 3 most common mistakes I've seen CPAs, chartered accountants, and tax preparers make when dealing with cross-border taxes or last year in Canada and first year in US. These are so important. I've seen so many mistakes costing people thousands and even tens of thousands, sometimes years down the line. I'm offering this information so you know what to look out for. I don't anyone to suffer the consequences of these big mistakes. Moving to ???? from ?????? ? Get help planning for a cross-border move, operations, and taxes:? ? ???? Houston Office: (713) 451-9700? ???? Toronto Office: (416) 800-2709? ? [email protected]? ??? www.akifcpa.com? ? Comment your questions and we’ll be happy to answer them in future videos!? ? #internationalmove #immigrationplanning #canadiansintheus #canadiansabroad #canadiansinamerica #canadaimmigration #usaimmigration #canadianexpat #leavingcanada

Make sure you plan ahead if you're planning a cross-border move! Moving to ???? from ?????? ? Get help planning for a cross-border move, operations, and taxes:? ? ???? Houston Office: (713) 451-9700? ???? Toronto Office: (416) 800-2709? ? [email protected]? ??? www.akifcpa.com? ? Comment your questions and we’ll be happy to answer them in future videos!? ? #internationalmove #immigrationplanning #canadiansintheus #canadiansabroad #canadiansinamerica #canadaimmigration #usaimmigration #canadianexpat #leavingcanada

Make sure you plan ahead if you're planning a cross-border move! Moving to ???? from ?????? ? Get help planning for a cross-border move, operations, and taxes:? ? ???? Houston Office: (713) 451-9700? ???? Toronto Office: (416) 800-2709? ? [email protected]? ??? www.akifcpa.com? ? Comment your questions and we’ll be happy to answer them in future videos!? ? #internationalmove #immigrationplanning #canadiansintheus #canadiansabroad #canadiansinamerica #canadaimmigration #usaimmigration #canadianexpat #leavingcanada

Make sure you plan ahead if you're planning a cross-border move! Moving to ???? from ?????? ? Get help planning for a cross-border move, operations, and taxes:? ? ???? Houston Office: (713) 451-9700? ???? Toronto Office: (416) 800-2709? ? [email protected]? ??? www.akifcpa.com? ? Comment your questions and we’ll be happy to answer them in future videos!? ? #internationalmove #immigrationplanning #canadiansintheus #canadiansabroad #canadiansinamerica #canadaimmigration #usaimmigration #canadianexpat #leavingcanada