The American in Canada : Real-life Tax and Financial Insights Into Moving to and Living in Canada

for Americans Either Contemplating A Move Or Already Living In Canada, This Reference Answers All The Questions Necessary To Successfully Plan The Transition, Including Immigration Planning, Customs Planning, Cash Management, Income Tax Planning, Retirement, Wills And Estates, Risk Management, And Investments. According To The Association For Canadian Studies, More Than 10,000 Americans Moved To Canada In 2006, A New 30-year Record. The Similarity In Language, Currency, Culture, Services, And Products Of These Two Countries Can Lead Americans In Canada To Mistakenly Think Its Laws And Customs Are Also The Same. With Proper Planning Before Moving, It Is Possible To Get A Five-year Tax Holiday From Canadian Taxes! According to The Association for Canadian Studies, over 10,000 Americans moved to Canada in 2006 -- hitting a new 30-year record. Already, there are hundreds of thousands of Americans living in Canada. The similarity in language, currency, culture, services and products of these two countries can lead Americans in Canada to mistakenly think its laws and customs are also the same. It is these areas where The American in Canada will be crucial to anyone either contemplating a move or already living in Canada. For example, consider the following questions: •What legal means are available to immigrate to Canada? •Will U.S. Medicare provide coverage in Canada? When are you eligible for socialized healthcare in Canada? •Is your U.S. living trust and estate plan valid in Canada? What are the tax implications of moving to Canada with a U.S.-based trust? •Do American citizens have to continue filing U.S. tax returns when living in Canada? •Can you continue to collect U.S. Social Security if you move to Canada? If so, how is it taxed? •What happens to your IRAs, 401(k) plans and other investments when you move to Canada? The American in Canada answers all these questions and more, focusing on immigration planning, customs planning, cash management, income tax planning, retirement, wills and estates, risk management and investments. Co-authors Brian Wruk and Terry Ritchie explain clearly all of the things to consider when making the transition to Canada. This book is an invaluable resource for Americans who have married Canadian citizens; move for employment opportunities; are professional athletes or entertainers; or are Canadian citizens simply moving back home to be closer to friends and family.