WHAT YOU'LL LEARN

7 Cross-Border Topics Every American in Canada Should Understand

Our guide walks you through the most important tax and investment considerations when making the move from the U.S. to Canada.

1

Filing the Right Tax Returns

Americans in Canada need to file both U.S. and Canadian returns. Learn exactly what's required in your first year and every year after.

2

Foreign Financial Disclosures

Understand your FBAR, T1135, and other reporting obligations so you stay compliant on both sides of the border.

3

Choosing the Right Advisor

Most U.S. advisors can't manage money for Canadian residents. Learn why a dual-licensed cross-border advisor makes all the difference.

4

Tax on Pre-Move Investments

Canada adjusts your cost basis on entry. Proper documentation ensures you're only taxed on gains that accrued after you arrive.

5

Your U.S. Principal Residence

Timing the sale of your U.S. home matters. Learn how the capital gains exclusion works and how to protect it.

6

U.S. Trusts & Canadian Residency

Some U.S. trusts trigger complex Canadian reporting. Find out which ones to review before your move.

7

IRAs, 401(k)s & Roth Conversions

Strategic Roth IRA conversions before moving can create significant long-term tax savings. The guide explains how.

Did You Know?

As a U.S. citizen, you're required to file U.S. tax returns regardless of where you live. Managing investments for a Canadian and U.S. resident requires a significantly different skill set than managing money for someone living solely in the U.S. Getting the right advice early can simplify your move and save you meaningfully in tax.

Phil Hogan, CPA, CA, CPA (CO) Cross-Border Partner
YOUR CROSS-BORDER EXPERT

Phil Hogan, CPA, CA, CPA (CO) Cross-Border Partner

CPA, CA (Canada) · CPA (Colorado, USA) · Cross-Border Tax & Wealth Specialist

Phil Hogan is a Canadian and US CPA working with clients throughout Canada and the US. Phil advises on cross border tax and financial planning matters. Phil can be reached at phil@beaconhillwm.ca or via telephone at 778-433-1314. You can also read more about Phil at www.beaconhillwm.ca/team/about-phil/

Canadian CPA, CA U.S. CPA (Colorado) Cross-Border Specialist
ABOUT BEACONHILL

We Provide Integrated Cross-Border Solutions

We provide solutions for clients with assets on both sides of the border. Whether you are moving across the border or inheriting assets, you can simplify your investments and accounts to better manage risk while minimizing cross-border issues with our integrated solutions.

Beacon Hill Wealth Management is a team of wealth advisors with experience that spans the globe. We focus first on understanding, then on finding solutions to manage and simplify your family’s financial life.

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