Article 12.1 and 12.2
12.1 Introduction The article on royalties accords to both Canada and the U.S. the right to each Contracting State to tax its residents on royalty income received by those residents. The article generally limits the taxation by the source country to
Top 2 Tax Liabilities for Canadian Snowbirds
In the tax season, Canadian snowbirds who spend considerable time in USA have to be careful about their tax liabilities. There are numerous regulations regarding the tax that they have to pay. It is always a good idea to be
Article XII – Royalties
12.0 Treaty Article - Royalties arising in a Contracting State and paid to a resident of the other Contracting State may be taxed in that other State. - Royalties any also be taxed in the Contracting State in which they arise, and
Tax Liabilities for Americans working in Canada
American citizens and green card holders often work in Canada as an employee. The income earned during this period can be paid by an American employer or a Canadian one, depending upon the type and nature of employment. Common sense
Cross Border Travelers
There are three types of people who travel to U.S from Canada. We may call first category of people as vacationers. These are short term visitors to the U.S who like to take a break from Canadian winters. These people are
Success Story of The Accounting and Tax
In this blog we will discuss about one of the success stories of The Accounting and Tax.. We were approached by a client from the U.S who has been working on TN visa for past few years. He has been filing
Factors Leading to Bad Loans
The economic condition of a country is greatly affected by the amount of bad loans. For the layman, bad loans refer to those amounts of money that were loaned out by the bank to individuals or ventures but were not
11.3 Explanation & Interpretation of Article XI under U.S. Law
11.3 Explanation & Interpretation of Article XI under U.S. Law 11.3.1 U.S Domestic Taxation of Interest Paid to Canadian Residents 11.3.1[a] Definition of Interest Interest has been broadly defined by the courts as representing the cost of using borrowed money, the amount which
The Timeline for US Expats to File Income Tax
The Timeline for US Expats to File Income Tax Just as any other citizen of USA, expats living and working in a foreign country are subjected to income tax laws. While there are some rules that differ from the tax laws
U.S.A tax filing if you move to Canada
If you are U.S green cardholder or citizen and wish to move to Canada, you need to do some planning before you make the move to Canada. Tax planning is absolutely different than tax preparation. Tax preparation is solely based on