Advice Archives - MacNeill Edmundson Professional Corporation

TAX OBLIGATIONS OF US PERSONS

Aug 17, 2015Lissa SavageCanada US TaxAdvice, Canada, Cross-Border, Services, Tax, US

US Taxation of Individuals The United States is one of two countries in the world that taxes individuals based on citizenship rather than residency. All US persons are required to file an annual US individual tax return (Form 1040) to report their worldwide income, whether they live in the US or abroad. How to be…

OVERSTAYING YOUR TIME IN THE UNITED STATES

Aug 17, 2015Lissa SavageCanada US TaxAdvice, Canada, Cross-Border, Tax, US

The Canada Border Services Agency is working on an information sharing agreement between Canada and the United States that allows border officials to exchange specific passport information and enforce residency regulations. As of June 30, 2014, each day that a Canadian spends in the US is automatically recorded by the American Department of Homeland Security.…