Montreal, Quebec – March 29, 2012
On the March 29th episode of Dollars and Sense on CJAD 800 AM, host, Matt Altro and legal expert David A. Altro discuss buying property in the U.S. and how Altro & Associates helps Canadians with this process.
David explains the U.S. estate tax laws and the rules for who and what is exposed to this tax. Lisa calls in with a question about how to go about setting a Cross Border Trust and if it is better to set up a trust before or after you purchase property in the U.S. George asks David about worldwide income and if assets overseas count as part of this for tax purposes. John, an accountant from Montreal asks how to reduce tax for Americans living in Canada.
David advises Joe, a dual citizen in Canada and the U.S. on various strategies to reduce U.S. estate tax based on his unique situation.
In part 3, David asks Matt about his specialty, moving to the U.S. Matt explains how many days Canadians can spend in the U.S. without becoming a U.S. resident for tax purposes and cautions Canadians on what they must have in place before moving to the U.S. He also discusses various visas and avenues to help Canadians move to the U.S. Debbie calls in to ask if she can become a U.S. citizen if she has an immediate family member who is a U.S. citizen.
Finally, David and Matt discuss all the activity and growth happening for the firm and take final calls from Vivian, who asks about probate for the estate of a deceased family member residing in the U.S. and how much time the probate process can take, Peter who wants to move to the U.S. and Phil, a dual citizen who asks about setting up a business in the U.S.