If you’re selling a U.S. vacation home or rental as a Canadian, don’t let FIRPTA withholding, state taxes, and cross-border filings trap your cash for years.
In this Tax Talk episode, Jared talks with cross-border tax pro Steven Flynn about how Canadians can sell U.S. real estate the right way. That means minimizing withholding, avoiding double taxation, speeding up refunds, and sidestepping CRA headaches. From ITINs and state returns to foreign tax credits and forex gains, this is your practical roadmap to a clean exit.
What you’ll learn:
Find us at:
https://www.legacyllp.ca/
reception@legacyllp.ca
Need to get in touch with Steven?
Steven Flynn
Andersen LLP
steven.flynn@ca.andersen.com
Timestamps
00:00 Kicking it off
01:32 Overview of the Foreign Investment and Real Property Tax Act (FIRPTA)
05:42 Other tax obligations as a Canadian owning an American property
11:56 Tax credit application processes & timelines
18:32 Common mistakes
21:41 What to look out for when buying a property in the US
23:48 Bonus tips
27:31 Wrapping it all up
________________________________________
Disclaimer: By using this website, blog or podcast, users agree as follows: The information, services and/or products are for general information only and any reliance on the information provided therein is done at your own risk. If you make tax, accounting, investing or legal decisions after accessing this website, blog or podcast, it is recommended that you consult a qualified professional first. The views and opinions expressed are those of the author, seller, guests or publisher and do not necessarily reflect the views of the organizations or businesses that these individuals are associated with. Although we make strong efforts to make sure my information is accurate, we cannot always guarantee that the information on this website, blog or podcast is always correct, complete or up-to-date.
