Advise Your Clients on Cross Border Tax Impacts

Cross Border Taxation

Tax Planning

By: Angela Preteau

PROGRAM:  Tax Services Specialist

As baby boomers age and technology makes it possible for people and businesses to operate globally - as well as economic changes making it appealing for people and businesses to purchase investment property globally - cross border taxation issues become key for cross border employment, entrepreneurship or asset ownership, as does the issue of residency and U.S. citizenship. Advisors who work with affluent boomers must be prepared to discuss cross border taxation with a comprehensive general knowledge, as well as recognize and advise on how certain actions on both sides of the border affect a person’s tax situation.

CONTENT DESCRIPTION AND KEY CONCEPTS:

The student will learn the key concepts surrounding residency, non-residency, immigration, emigration, taxation of U.S. citizens and residents as well as other the taxation issues surrounding cross-border transactions from a Canadian and U.S. point of view.

CERTIFIED SKILL SETS: Most Chapters feature case studies which will ensure that the tax practitioner can adequately explain:

• When Canada and the U.S. tax non-residents
• How Canadian and U.S. tax laws differ
• Benefits and protections of tax treaties
• How U.S. estate and gift tax apply to U.S. persons as well as non-residents
• What it means to become a non-resident of Canada or the U.S.
• How to enter the United States to work or live
• The tax consequences of terminating residence

Chapters end with multiple choice and true-to-life scenarios which test the practical application of the key concepts covered in the course.  Actual time spent is influenced by factors such as the student’s background and individual learning style.

KNOWLEDGE BUREAU TOOLS INCLUDED:

• EverGreen Explanatory Notes

MARKS ALLOCATION: