Cardinal Point Wealth Management & Cardinal Point Capital Management

Are you considered a taxpayer in both the U.S. and Canada? If so, a better understanding of the two countries’ income tax treatyestablished in 1980may help you minimize your tax burden. In this article, we dissect several examples of residency and the treaty’s implications.

From insurance policies to checking and saving accounts, loan payments, and other monthly bills, who will handle your assets and obligations should you die unexpectedly? If 2020 has taught us anything it’s that unpleasant surprises are always possible. Meeting annually with your spouse, significant other, or a trusted family member or friend to go over your financial and personal wishes can give you peace of mind in an otherwise uncertain world. Learn more about the details you should review in this article.

Do you have assets in two or more countries? If so, you’ll want to read this blog post about managing the different currencies in your portfolio. In it, you’ll learn more about Cardinal Point’s philosophy on currency hedging including considering your future income needs.

As a new year approaches, it’s a natural time to review your investments and make any necessary changes. If you think this may include adding additional ETFs to your portfolio, this article on the picks of three top financial advisors may be helpful. Cardinal Point’s own Matt Carvalho, chief investment officer, is included and explains his recommendation: the ARK Innovation ETF (ARKK).

It is estimated that over $11 trillion USD is indexed or benchmarked to the S&P 500 index, or what many investors consider ‘the market.’ However, while that index does capture a good chunk of the public stock market capitalization in the U.S., it omits the rest of the globe.

Cardinal Point’s Partner and Director of Cross-Border Wealth Services, Terry Ritchie, was recently interviewed by BNN Bloomberg about the costs and conveniences of sending money between the U.S. and Canada. A resident of both Calgary and Phoenix, Arizona, Terry has a wealth of first-hand experience with cross border transfers. Check out the article to learn more about Terry’s views on traditional bank transfers versus go-between services.

529 plans are a popular U.S. higher education savings option. However, if you have any intention to move back to Canada in the future or think your child might choose to attend a college or university outside the U.S., you should consider the possible tax implications before investing in a 529 plan. Learn more about how these plans work and cross-border tax considerations in this article.

The senior populationdefined as those age 65 and olderis exploding in both the U.S. and Canada. If you’re planning a move across the border for work or retirement, it’s likely you have an aging family member or two to consider. In this article, we’ll explore the documents you need to have in order as well as other steps to take before you relocate away from the senior citizens you love.

Capital gains taxes when selling small business corporation shares can be substantial. Fortunately, Canadian residents can use the LCGE, or Lifetime Capital Gains Exemption, to reduce their tax burden. In this article, we take a closer look at the LCGE’s qualifying criteria and planning opportunities associated with it.

Thanks to COVID-19, fleeing Canada’s winter will be impossible for many snowbirds this year. But what should you do with your U.S. vacation home when you’re unable to visit? From renting to selling, Cardinal Point Wealth Management’s Vice President, Terry Ritchie, shares his insight into associated tax implications in an article for The Globe and Mail.

Paying income taxes can be tricky for the nearly 1 million American citizens residing in Canada, especially if they’re also business owners. Cardinal Point Wealth Management’s Vice President, Terry Ritchie, shared his insight into the challenges these entrepreneurs can expect during a recent podcast hosted by Jason Pereira. You can learn more about the topics discussed and find a link to the podcast in this article.

Have you been working from home as a result of a stay-at-home order in your area during the COVID-19 pandemic? If so, you may be able to deduct related expenses from your 2020 Canadian personal income tax return. In this article, we will discuss specific qualifying conditions that must be met as well as eligible expenses and necessary supporting documentation.

As the old saying goes, every cloud has a silver lining. While the past month has brought the steepest stock market correction in history along with unprecedented volatility, it has also created a number of positive opportunities for Cardinal Point clients. In this article, we’ll take a look at a few metaphorical silver linings including why our current economic environment is prime time for tax-loss harvesting, mortgage refinancing, and currency conversion.

Have you ever wondered about the intricacies of financial planning for cross-border clients? Cardinal Point’s Partner and Director of Cross-Border Wealth Services, Terry Ritchie, was recently interviewed about that very topic. Learn more about it and listen to the Snap Projections podcast.

Whether you’re nearing retirement or still decades away from your golden years, provisions within the SECURE Act are likely to have major implications for your U.S. or Canada-U.S. retirement plan. From the later required minimum distribution date to changes in inherited IRA distribution requirements, this article will explain the basics you need to know now.

With more than 271 million ex-pats around the world, giving up residency in one’s nation of birth to work or retire in another country is not that unusualbut it can have a big impact on investing and financial planning opportunities. Fortunately, some financial advisors have found ways to continue to serve their ex-pat clients from afar. Learn more about their strategies in this article from The Globe and Mail.

Do you stress out or lose sleep over politics? If you're like many others, the answer is yesespecially if you're concerned about your investments. This political season, it's important to stay disciplined and to not let daily sensational news reports impact your investing habits. Remember that medium- to long-term returns are more likely to be affected by economies and company earnings than any election result.

When living abroad, financial planning isn’t the first thing that comes to mind. There’s a lot of tax liabilities and FX hedges to think about, says Terry Ritchie and Matt Carvalho in an interview with @LaraCrigger at @ETFcom https://bit.ly/2niSTI8