December 2022 – The Ride: Life, Work and Wealth

Traveling to the USA? Here’s How It Might Affect Your Taxes (Ep. 60)

By theridelifeworkandwealth | December 30, 2022

Many Canadians pack their suitcases as it gets colder and fly off to warmer places in the USA. While that sounds like a wonderful idea, it is important to know the tax implications of your trip.

In this episode, Kris Dureau provides a brief overview of tax-related nuances you need to keep in mind as a frequent traveler to the USA.

Kris discusses:

The importance of consulting an accountant who is experienced in cross-border taxation
How the length of your stay affects your tax situation (Substantial Presence Test)
Insights into taxation on US-sourced income
And more!

Resources:

Internal Revenue Service (IRS) Official Website

Connect with Kris Dureau:

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Year-End Checklist for Your Registered Accounts (Ep. 59)

By theridelifeworkandwealth | December 7, 2022

Before the year comes to a close, there are a number of things you want to consider concerning your registered accounts. These include your RESP, RRSP and RRIF accounts that you might want to pay closer attention to as the year comes to an end so that you can save going into 2023.

In this episode, Kris Dureau discusses what to look out for when investing in a down market and how it can actually benefit some of your accounts depending on your current situation.

Kris explains:

What are Registered Accounts
The importance of having a TFSA
Some considerations for parents whose children just turned 15
Changes you might want to make in your portfolio prior to December 31st
How you can save on taxes this year
And more