Quote:
Originally Posted by Bob
I heard that if you own property in the US, no matter where you live, you must now file taxes with the IRS and report your for foreign income as if it were earned in the US. Something about a change Obama implemented. I sincerely hope that's not true ...
Essentially, dual-taxation sucks (I've been there), but there are ways to avoid some of the burden, but far more ways to get screwed and have to pay both Revenue Canada and the IRS.
|
Canada and US have a tax treaty. There are very few circumstances where you'd be double taxed. You essentially pay the higher of the two.