As we head into the holiday season, many of us are reflecting on our traditions, especially those of us who live between two countries. At Beacon Hill Wealth Management, we work with many Americans living in Canada, and one topic that always comes up this time of year is Thanksgiving. How does it differ between the two countries, and what should expats expect?

In a recent interview on 770 AM Calgary Radio with Sarah Crosbie from Global News, our very own Chris Stooksbury shared his unique experience as an American living in Canada. The conversation dove into everything from the dates and traditions to football and, yes, even the infamous seven-layer Jell-O!

You can watch the full interview below to get all the insights directly from Chris.

🎙️ Special thanks to Global News and Sarah for providing the audio of this interview. https://globalnews.ca/pages/audio-vault-chqr/

If you have any questions about this topic or need advice on other cross-border tax or investment matters, feel free to contact Phil at [email protected].

You can also take advantage of our complimentary tax consultation by visiting: https://beaconhillwm.ca/get-started-now/

Subscribe to Crossing the 49th Cross-border Tax and Financial Planning Podcast on Apple podcasts and Spotify.

You can also stay updated on US Expat Tax and financial planning issues by following us at:

Disclaimer: The information contained in this Podcast and YouTube video is for information purposes only and should not be construed as tax or financial planning advice. Tax and financial planning rules change from year to year and the information contained within may be outdated. Ensure to engage an experienced and competent tax and financial planner to help you with your tax and financial planning needs.

In this episode of Crossing the 49th, Phil Hogan from Beacon Hill Wealth Management discusses the top 5 tax return mistakes expats make when filing U.S. and Canadian returns.

From form 2555 errors to foreign tax credit issues, Phil covers the key pitfalls and how to avoid them for a smoother tax season.

Key Topics:

If you have any questions about this topic or need advice on other cross-border tax or investment matters, feel free to contact Phil at [email protected].

You can also take advantage of our complimentary tax consultation by visiting: https://beaconhillwm.ca/get-started-now/

Subscribe to Crossing the 49th Cross-border Tax and Financial Planning Podcast on Apple podcasts and Spotify.

You can also stay updated on US Expat Tax and financial planning issues by following us at:

Disclaimer: The information contained in this Podcast and YouTube video is for information purposes only and should not be construed as tax or financial planning advice. Tax and financial planning rules change from year to year and the information contained within may be outdated. Ensure to engage an experienced and competent tax and financial planner to help you with your tax and financial planning needs.

In this episode of Crossing the 49th, Phil Hogan discusses U.S. state tax filing for Canadians.

Learn when and why Canadians need to file state returns, especially for rental income, property sales, or if you’re moving from the U.S. to Canada. Get insights on exit returns, foreign tax credits, and key strategies for cross-border tax planning.

Key Topics:

If you have any questions about this topic or need advice on other cross-border tax or investment matters, feel free to contact Phil at [email protected].

You can also take advantage of our complimentary tax consultation by visiting: https://beaconhillwm.ca/get-started-now/

Subscribe to Crossing the 49th Cross-border Tax and Financial Planning Podcast on Apple podcasts and Spotify.

You can also stay updated on US Expat Tax and financial planning issues by following us at:

Disclaimer: The information contained in this Podcast and YouTube video is for information purposes only and should not be construed as tax or financial planning advice. Tax and financial planning rules change from year to year and the information contained within may be outdated. Ensure to engage an experienced and competent tax and financial planner to help you with your tax and financial planning needs.

In this episode of Crossing the 49th, Phil Hogan from Beacon Hill Wealth Management discusses the tax implications of holding and withdrawing from an RRSP as a U.S. resident.

Learn how the Canada-U.S. tax treaty affects RRSPs, foreign tax credits, and how to plan your withdrawals to minimize tax liabilities.

Key Topics:

If you have any questions about this topic or need advice on other cross-border tax or investment matters, feel free to contact Phil at [email protected].

You can also take advantage of our complimentary tax consultation by visiting: https://beaconhillwm.ca/get-started-now/

Subscribe to Crossing the 49th Cross-border Tax and Financial Planning Podcast on Apple podcasts and Spotify.

You can also stay updated on US Expat Tax and financial planning issues by following us at:

Disclaimer: The information contained in this Podcast and YouTube video is for information purposes only and should not be construed as tax or financial planning advice. Tax and financial planning rules change from year to year and the information contained within may be outdated. Ensure to engage an experienced and competent tax and financial planner to help you with your tax and financial planning needs.

On this episode of Crossing the 49th I discuss the tax treatment of interest, dividends and capital gains for U.S. expats that live in Canada.

Key Topics:

To review the Canada-US tax treaty please visit here: https://beaconhillwm.ca/wp-content/uploads/2024/09/Canada-US-tax-treaty.pdf

If you have any questions about this topic or need advice on other cross-border tax or investment matters, feel free to contact Phil at [email protected].

You can also take advantage of our complimentary tax consultation by visiting: https://beaconhillwm.ca/get-started-now/

Subscribe to Crossing the 49th Cross-border Tax and Financial Planning Podcast on Apple podcasts and Spotify.

You can also stay updated on US Expat Tax and financial planning issues by following us at:

Disclaimer: The information contained in this Podcast and YouTube video is for information purposes only and should not be construed as tax or financial planning advice. Tax and financial planning rules change from year to year and the information contained within may be outdated. Ensure to engage an experienced and competent tax and financial planner to help you with your tax and financial planning needs.

On episode #29 of Crossing the 49th Podcast, we discuss why transferring your IRA to an RRSP might not be a good idea.

Understanding Why You Should Think Twice Before Transferring Your IRA to an RRSP | Cross-Border Tax and Financial Planning

In this episode of Crossing the 49th, I explain the potential pitfalls of transferring your IRA to an RRSP, a common consideration for U.S. expats in Canada. I also discuss alternative strategies that may better suit your financial goals.

Key Topics:

You can download a copy of the presentation here: https://beaconhillwm.ca/wp-content/uploads/2024/09/IRA-to-RRSP-transfers-Beacon-Hill-Wealth-Management.pdf

Subscribe to Crossing the 49th Cross-border Tax and Financial Planning Podcast on Apple podcasts and Spotify.

You can also stay updated on US Expat Tax and financial planning issues by following us at:

Disclaimer: The information contained in this Podcast and YouTube video is for information purposes only and should not be construed as tax or financial planning advice. Tax and financial planning rules change from year to year and the information contained within may be outdated. Ensure to engage an experienced and competent tax and financial planner to help you with your tax and financial planning needs.

On episode #28 of Crossing the 49th Podcast, we discuss the upcoming October 15th deadline.

Understanding the October 15 Deadline for U.S. Expats in Canada | Cross-Border Tax and Financial Planning

In this episode of Crossing the 49th, I break down the important October 15 tax deadline for Americans living in Canada. With the U.S. tax extension deadline coming up, I’ll walk you through key points for those who haven’t filed their U.S. tax returns yet, including FBAR filings and the penalties for missing deadlines. I also cover how to manage both U.S. and Canadian tax returns and why it’s essential to file them together.

Key Topics:

Subscribe to Crossing the 49th Cross-border Tax and Financial Planning Podcast on Apple podcasts and Spotify.

You can also stay updated on US Expat Tax and financial planning issues by following us at:

Disclaimer: The information contained in this Podcast and YouTube video is for information purposes only and should not be construed as tax or financial planning advice. Tax and financial planning rules change from year to year and the information contained within may be outdated. Ensure to engage an experienced and competent tax and financial planner to help you with your tax and financial planning needs.

On episode #27 of Crossing the 49th Podcast, we delve into the IRS Streamline Tax Program and Cross-Border Financial Planning with Experts Rob Brown and Doug Lawson.

Extended Summary of the Podcast: Join host Phil Hogan and guests Rob Brown and Doug Lawson from Hutcheson and Co. LLP as they explore essential topics for Americans in Canada. This episode provides comprehensive insights into the IRS Streamline Tax Program, 1040x adjustments, and strategic considerations for TFSA and RESP.

Key takeaways from the episode include:

– IRS Streamline Tax Program: An in-depth exploration of this vital program for tax compliance.

For personalized advice or questions, reach out to Phil directly at [email protected].

Stay tuned for more insightful episodes from “Crossing the 49th”!

#IRSStreamline #1040x #TFSA #RESP #USCanadaTaxPlanning #PhilHoganCPA

You can also stay updated on US Expat Tax and financial planning issues by following us at:

Disclaimer: The information contained in this Podcast and YouTube video is for information purposes only and should not be construed as tax or financial planning advice. Tax and financial planning rules change from year to year and the information contained within may be outdated. Ensure to engage an experienced and competent tax and financial planner to help you with your tax and financial planning needs.

On episode #25 of Crossing the 49th Podcast, we discuss How to Find and Work with a Cross-Border CPA.

Extended Summary of the Podcast: In this insightful episode, host Phil Hogan provides valuable tips on finding and working with a cross-border tax accountant.… Read more...

The post How to Find and Work with a Cross-Border CPA | 🇨🇦 🇺🇸 – Ep.25 appeared first on Phil Hogan, CPA, CA, CPA (CO).

On episode #25 of Crossing the 49th Podcast, we discuss How to Find and Work with a Cross-Border CPA.

Extended Summary of the Podcast: In this insightful episode, host Phil Hogan provides valuable tips on finding and working with a cross-border tax accountant. Phil emphasizes the importance of seeking professional help early, especially if you’re planning to move to Canada or need cross-border tax advice.

Key takeaways from the episode include:

– Start Early: The best time to engage a cross-border accountant is in the fall, as many are wrapping up their busy tax seasons and can take new clients.

Phil also touches on the challenges and high demand in the cross-border tax industry, advising listeners on how to build a successful relationship with their tax professional.

For personalized advice or questions, reach out to Phil directly at [email protected].

Stay tuned for more episodes and insights from “Crossing the 49”!

#CrossBorderCPA #TaxPlanning #CrossingThe49thPodcast #PhilHoganInsights

You can also stay updated on US Expat Tax and financial planning issues by following us at:

Disclaimer: The information contained in this Podcast and YouTube video is for information purposes only and should not be construed as tax or financial planning advice. Tax and financial planning rules change from year to year and the information contained within may be outdated. Ensure to engage an experienced and competent tax and financial planner to help you with your tax and financial planning needs.