Feigenbaum Law

Cross-Border Tax Issues

Cross-Border Tax Issues

How Will The Biden Presidency Impact The Wallets Of Canadians?

The word was watching this week as Joe Biden became the 46th President of the United States. While this is undoubtedly huge news for Americans, the implications of a new president will be felt around the world, and certainly in Canada. In this week’s blog, we want to look at how the Biden presidency could impact Canada and its economy. Biden reverses decision to allow Keystone XL pipeline One of the first announcements to emerge… Read More

A home office representing new CRA deduction process for work at home expenses

Corporate Tax Planning

COVID-19 Allows Tax Breaks For Those Working From Home

The COVID-19 pandemic saw a huge increase in the number of people working from home. Many people in all parts of Canada still find themselves working from home, and likely will for some time. Of course, working from home usually means the employee faces costs they wouldn’t otherwise have to deal with when working in an office or other workspace. Employees have had to pay for costs associated with setting up a home office, including… Read More

The Ambassador Bridge representing a US taxpayer spending part of the year in Canada

Cross-Border Tax Issues

Creditors Attempt to Lower Bankrupt’s US Tax Bill to Secure Payment

People who work or do business on both sides of the Canada-United States border often have tax obligations to both governments as well. A failure to employ a tax plan that takes these considerations into account can leave an individual with a larger tax bill than they might expect. In an interesting case from a bankruptcy court in the United States, a taxpayer had entered into bankruptcy. With the IRS as… Read More

Players in a SEC NCAA football game representing the compensation of student athletes

Cross-Border Tax Issues

Question Over NCAA Compensation Makes Its Way To Supreme Court

The compensation of college athletes in the United States has been a controversial topic that has picked up steam over the last few years. Just this week it was reported that the U.S. Supreme Court will hear a petition from the National Collegiate Athletic Association (NCAA) arguing that the organization should be able to continue to restrict athlete compensation. The appeal stems from a lower court decision that ruled in favour… Read More

A sign that says taxes on a pile of US money representing the tax benefits of renouncing citizenship

Cross-Border Tax Issues

The Tax Implications of Renouncing U.S. Citizenship

As lawyers who work with clients on both sides of the Canadian/U.S. border, we can’t help but notice a particular trend that arises after each U.S. election, no matter the result. People threatening to leave the United States and move to Canada, perhaps even renouncing their American citizenship. For those lucky enough to hold dual citizenship, making such a move is easy. For Americans without Canadian citizenship, it can be a little more challenging. Regardless… Read More

A Florida beach representing Canadian snowbirds heading south for the winter

Cross-Border Tax Issues

Travel Opportunities for Canadians Looking to Escape Cold Winter Weather

Every year, thousands of Canadians head south to the United States for the winter. For some, it’s a way of enjoying their retirement and avoiding harsh Canadian winters by soaking up the sun in southern states such as Florida or Arizona. Even for those not yet ready for retirement, but who are able to work remotely, working out of a southern destination can be an appealing idea. Of course, COVID-19 has put a wrench in… Read More

Glasses on an open calendar representing CRA extensions due to COVID

Business Management

Canada Revenue Agency Further Extends Deadlines and Exemptions

It has been a few weeks since we last updated our readers on how the Canada Revenue Agency is continuing to react to the COVID-19 pandemic. There were a number of announcements made in September that will be of interest to business owners as well as Canadians and Americans who spend time in one another’s country. Extension of Travel Restrictions Relief On September 2, the CRA announced an extension to their travel restrictions which could… Read More

American currency representing tax filing obligations on dual US citizens who live outside the US

Cross-Border Tax Issues

New Tax Risks For Dual Citizens Living In Canada

COVID-19 has brought with it many extensions to tax-related obligations for both Americans and Canadians. However, it doesn’t mean that tax obligations have gone away entirely. One item that has been a contentious topic over the last few years is the requirement for US/Canadian dual citizens living in Canada to file income tax in the United States as well as Canada. We wanted to take this opportunity to remind dual citizens of their obligations to… Read More

Movie camera on a film set

Cross-Border Tax Issues

COVID-19 Precautions in Place as Entertainment Productions Resume

In a recent blog, we talked about how professional sports were doing with a return to play in light of COVID-19. While the lack of professional sports has been a huge topic of conversation, other entertainment-related industries have also been eagerly awaiting a resumption of normal activities. Canada’s movie and television industry employs thousands of people, and as the industry gets ready to ramp up production of movies and television shows, it’s important to… Read More

A row of houses on a beach representing snowbird properties in the U.S.

Cross-Border Tax Issues

CRA Seeking Data on Canadian-Owned Properties in the U.S.

For Canadians who own property in the United States, filing a T1135 Foreign Income Verification Statement is mandatory in order to declare the property to the Canada Revenue Agency (CRA) for tax purposes. The failure to file a T1135 has penalties associated with it. For most Canadians, the CRA trusts that they will accurately report their own income and holdings for tax purposes. However, the CRA does look for ways to… Read More