After more than a decade in cross-border practice, I see the same errors repeatedly: missing the FBAR deadline, double-counting treaty credits, reporting TFSA income to the IRS, and miscalculating foreign exchange gains. I've put together this guide so you can avoid the pitfalls I see most often.
I keep a close eye on developments like these so my clients don't have to. Tax law changes can significantly affect your filing strategy, and I believe the earlier you understand them, the better positioned you are to plan effectively.
Whether you file in Canada, the United States, or both, staying current on these changes is essential. In my cross-border practice, I've seen firsthand how policy shifts in one country can create unexpected obligations — or opportunities — in the other.
If you have questions about how this affects your specific situation, please don't hesitate to reach out. I'm here to help you navigate these changes and make the best decisions for your financial future.