Canada-U.S. Estate and Gift Tax Planning: Utilizing Canada-U.S. Income Tax Treaty Provisions to Mitigate Tax
Recording of a 110-minute CPE webinar with Q&A
This webinar will explain the transfer taxes paid in Canada and the U.S. by residents of the U.S. and/or Canada. Our panel of foreign tax experts will discuss specific articles in the Canada-U.S. Income Tax Treaty and provide examples of how these can be applied to mitigate estate and gift taxes paid in both countries.
- Canada-U.S. Taxes on Transfers on Death and During Lifetime: introduction
- Unified credit
- Marital credit
- Foreign tax credit
- State estate tax
- Canada-U.S. Income Tax Treaty
- Strategies to mitigate transfer taxes
The panel will cover these and other critical issues:
- When and how U.S. gift and estate taxes are applied to Canadian residents
- Using the Treaty marital credit to reduce estate taxes
- Specific strategies to reduce overall transfer taxes paid to the U.S. and Canada
- How Canadian residents can utilize the U.S. unified credit
Patrick J. McCormick, J.D., LL.M.
Mr. McCormick specializes in the areas of international taxation, tax compliance, and offshore reporting... | Read More
Mr. McCormick specializes in the areas of international taxation, tax compliance, and offshore reporting obligations. He published national articles and given numerous national and local presentations on assorted areas of tax and estate planning law, including international tax and offshore compliance issues. His latest article on PFICs is titled Tax Reporting Implications of Foreign Mutual Funds. He is licensed to practice in the States of New Jersey, Florida, and Georgia, and the Commonwealth of Pennsylvania.Close
Legacy Tax + Trust Lawyers
Ms. Reese assists clients with tax, estate and trust planning. She received her J.D. from the University of Victoria in... | Read More
Ms. Reese assists clients with tax, estate and trust planning. She received her J.D. from the University of Victoria in 2005 and her Masters of Law Degree in International Taxation from New York University in 2006. As a result, a major part of Ms. Reese's practice is related to cross border U.S. – Canada transactions and estate planning, including estate, gift, and generation skipping tax issues. In addition, she advises U.S. citizens and green card holders regarding U.S. tax compliance and the U.S. expatriation tax rules.Close
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