Wealth without Borders
The purpose of this quarterly newsletter is to share cross-border wealth management news and insights with our cross border clients and colleagues.
The Steele Wealth Management team has received a tremendous increase in inquiries from prospective cross-border clients regarding issues to consider when there is an obligation to report to both the Internal Revenue Service (IRS) and the Canada Revenue Agency (CRA). Our cross-border clients have unique investment, tax and estate planning challenges. Although each client’s situation is unique, we frequently address some common issues in our planning. This newsletter is a collection of these issues.
The end of the year provides a time to review financial plans and see how they should adapt considering your cross-border situation: your Canadian investments integrated with your US investments. It is imperative that you meet with Steele Wealth Management, coordinated with your tax professional, to examine nuances and changes that could impact your year-end planning while keeping in mind your long-term goals. This edition of Wealth Without Borders examines tax and financial planning moves to help prepare you for the upcoming tax season if you are obligated to file a US tax return.