Managing finances and taxes on both sides of the border can be complex and overwhelming, but with proper planning and professional guidance, costly surprises can be avoided. This book is a comprehensive guide to navigating the financial and tax complexities of moving between the U.S. and Canada.
Whether you're an American relocating to Canada or a Canadian returning home after living in the U.S., this resource equips you with the tools to make informed, strategic decisions. Co-authored by a cross-border tax professional and one of Canada's top cross-border wealth managers, it draws on their experience helping hundreds of individuals and families manage this transition with confidence.
Inside, you'll find guidance on key topics such as:
- Tax planning strategies that align Canadian and U.S. tax rules to minimize taxation, grow your wealth, while staying compliant with tax authorities
- What to do with your various financial accounts, which may include non-qualified investments, retirement accounts such as IRAs and 401(k)s, Roth IRAs, and assets held in revocable living trusts
- How to utilize Canadian accounts like RRSPs and TFSAs in a strategic way while accounting for U.S. tax laws that may still apply if you're a U.S. citizen or green card holder in Canada
- Financial planning to determine ideal income streams, including retirement planning with Social Security and coordinated withdrawals from your investment accounts
- How to build a cross-border investment strategy that maximizes after-tax growth between your various accounts
- Real estate considerations on both sides of the border
- Advanced planning topics including gift and estate planning, cross-border philanthropy, and U.S. expatriation
And much more.
This book takes you through the full journey, from understanding why people move to Canada, to exploring the financial tools available, and mastering the intricacies of cross-border wealth and tax planning.
Whether you've already moved or are still in the planning stages, this guide is an essential resource for individuals, tax professionals, and personal finance advisors.
Sonya is a CPA licensed in both Canada and U.S. (Illinois) and has a nearly a decade of cross-border tax experience. She spent most of her career in Global Mobility Tax at one of the "Big 4" accounting firms, and is currently a tax consultant for Canada's largest independent wealth management firm. In her day to day role, Sonya helps clients navigate a plethora of Canadian and U.S. tax matters, from planning considerations surrounding immigration and emigration, to tax efficient investment and estate planning. Sonya has completed the rigorous three-year Canadian In-Depth Taxation Program, and is also a Chartered Retirement Planning Counsellor (CRPC).Sonya has appeared as a tax expert on BNN Bloomberg's Talking Tax, has published cross-border tax material for the Globe & Mail, and has written multiple tax planning articles for her firm and their clients. She has a passion for writing, teaching and helping people navigate difficult financial transitions - and is excited to share her knowledge in cross-border tax planning.
Clark is a CFA Charterholder and Chartered Retirement Planning Counselor (CRPC) with nearly three decades of experience helping clients build and preserve wealth across borders. Over his career, he has advised individuals and families on investment management, retirement planning, and complex cross-border financial strategies, combining a disciplined portfolio approach with thoughtful, personalized advice.Clark has spent most of his career with a major Canadian investment firm, where he works closely with clients in both Canada and the United States to integrate tax-aware investing, retirement income planning, and estate considerations into cohesive long-term strategies.He has been quoted in The Globe and Mail on investment and financial planning topics and is passionate about simplifying complex financial issues so clients can make confident, informed decisions. Through this book, he hopes to share practical insights gained from years of guiding clients through life's major financial transitions.
