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cross-border FI-nancial
General Finance
Taxes, Canada, USA, Currency, Frugality
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Latest Blog Posts

There is a lot to love about Pound and Reed’s book, A Tax Guide for American Citizens in Canada. In it, they correctly state that there is no tax software designed for US expats, and they write “There is software that helps Americans file their tax returns, but we think this makes things more confusing.” Perhaps this is part of ... Read More The post the best tax software for US ...
Posted: Apr 12 2019 @ 3:24 PM
What is the FBAR? The FBAR is a disclosure form: it is just a list of your foreign accounts. It does not change the amount of tax you pay, and in fact is part of the US Treasury department. The FBAR exists because certain people try to evade taxes or launder money. Thanks to such criminals, all US expats with ... Read More The post How to file the FBAR in ...
Posted: Apr 10 2019 @ 4:14 PM
As a motivational effort, I am beginning a new quarterly income update for our non-employment income. Four updates per year seems manageable and even useful. Hopefully, as the years pass, this is a handy record for others to follow the growth of newbie side hustlers. What nano-businesses (side hustles) do we have going right now? (A) We started this blog ... Read More The post Nanobusiness Update #1: 2019 Q1 appeared ...
Posted: Apr 02 2019 @ 2:30 PM
Here’s a calendar and guide to help you organize and plan your cross-border tax filing season! We have separated the tasks by month to avoid an overwhelming amount of work during April. Organization and scheduling can prevent the April tax-time panic that can hit cross-border taxpayers. Our tax calendar Most people think about taxes during the months of March and ... Read More The post cross-border tax calendar appeared first on ...
Posted: Mar 31 2019 @ 11:41 PM
As I sat down to work on the tax returns this year, I realized that while cross-border commuters face challenges at tax time, cross-border telecommuters face even greater tax challenges! It can be challenging to allocate (or “source”) income earned in each country properly. Here I show how I source the income to each country, and then calculate and apply ... Read More The post cross-border telecommuting & taxes: source income ...
Posted: Mar 26 2019 @ 1:55 PM
In our mid-20s, we achieved a savings rate of >90% for 3 years. We were able to accelerate our financial-independence path during this time by living in a dormitory with about 50 undergraduate students. This is our experience; hopefully it motivates younger readers to try residential life opportunities as well. What is residential life? the opportunity I was a graduate ... Read More The post accelerate financial independence with residential life ...
Posted: Mar 17 2019 @ 11:44 PM
Probably every American with a Tax-Free Savings Account (TFSA) has wasted many hours using search engines to research what to do. The TFSA is roughly equivalent to a Roth IRA in the US. Contributions to TFSAs are not tax-deductible, but growth and withdrawals are tax free in Canada. (One difference is that TFSA withdrawals can be re-contributed, unlike a Roth ... Read More The post What an American should know and ...
Posted: Mar 15 2019 @ 3:21 PM
The Canadian government provides Employment Insurance (EI) to new parents, and American expats need to report this income on their US tax return. Specifically, we report EI income as Unemployment Compensation on line 19 of Form 1040, Schedule 1. Let’s see how to do this and recover the tax paid to Canada. Canada’s Employment Insurance (EI) Program Overview One of ... Read More The post reporting Canada Employment Insurance (EI) income ...
Posted: Mar 13 2019 @ 3:56 PM
American expats in Canada often have retirement accounts like 401(k)s from a former employer in the US. Lots of Canadians commute across the border every day to work in the USA and have access to their employer’s 401(k) plan. Here we describe how US expats and cross-border commuters can use 401(k) retirement accounts to reduce taxes and accelerate retirement. The ... Read More The post how expats and cross-border commuters can ...
Posted: Mar 12 2019 @ 12:44 PM
We have moved from the the US to Canada, twice. Both times it went really well. Here I walk you through the steps—from immigration documents and apartment hunting abroad, to US financial account maintenance—so that your move can go well too! Immigration Path (1) Determine an immigration path. The first step in your move from the US to Canada is to identify ... Read More The post how to move to Canada from ...
Posted: Mar 10 2019 @ 11:55 AM


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