Trump proposes extending all TCJA provisions and eliminating taxes on tips. Harris proposes raising the corporate rate to 28% and expanding the CTC. For my cross-border clients, the outcome will significantly affect both US obligations and foreign tax credit calculations. I'll be advising on strategy once the results are in.
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.