Moved from the U.S. to Canada? 2025 Tax Season Tips from a Cross-Border Tax CPA

Check out Your Move to Canada: https://www.yourmovetocanada.com - available on Amazon! Establishing Canadian tax residency:    • Your Move to Canada | Establishing Residen...   Managing U.S. real estate after moving to Canada:    • Your Move to Canada | Selling or Renting Y...   CRA Guidance on Roth IRAs: https://www.canada.ca/en/revenue-agen... Form 8938 Thresholds: https://www.irs.gov/businesses/corpor... If you moved from the United States to Canada, or 2025 was your first year as a Canadian tax resident, this video covers the most important cross-border tax tips to know for the 2026 tax season. Filing U.S. and Canadian tax returns in the year of a move can be complex. Many Americans living in Canada are surprised to learn that they may need to file two tax returns, report worldwide income, disclose foreign assets, and properly handle U.S. retirement accounts such as IRAs, 401(k)s, and Roth IRAs. In this video, I break down: • Cross-border tax tips for Americans moving to Canada • Reporting worldwide income to the CRA and IRS • Key U.S. and Canadian tax deadlines • Foreign asset reporting (FBAR, Form 8938, and T1135) • Roth IRA elections for Canadians • Tax treatment of U.S. retirement accounts after moving to Canada • Selling a U.S. home after becoming a Canadian tax resident • Common tax mistakes expats make in their first year in Canada This video is designed for U.S. expats in Canada, Americans planning to move to Canada, and repatriating Canadians returning from the U.S. who want to avoid costly tax mistakes. I’m a cross-border tax professional specializing in U.S.–Canada tax planning, and I cover these topics in far more detail in my book, Your Move to Canada, a comprehensive guide to tax, investment, retirement, and estate planning for Americans and Canadians moving north. If you found this helpful, please like, subscribe, and feel free to leave a comment with your questions. 00:00 – Cross-Border Tax Tips for Americans Moving to Canada (2025) 00:33 – Why You Should Get a Cross-Border Tax Accountant 01:47 – Reporting Worldwide Income to Canada After You Move 01:55 – Bonuses, Final Paycheques, and Vacation Payouts After Arrival 02:22 - Sourcing rules for foreign tax credits 02:45 – Filing U.S. Federal and State Taxes While Living in Canada 03:41 – U.S. vs Canadian Tax Deadlines for the 2025 Year 04:54 – Foreign Asset Reporting (FBAR, Form 8938, and T1135) 07:19 – First-Year Canadian Residency T1135 Exception 07:41 – Roth IRA Rules After Moving to Canada 08:52 – Canada Does Not Allow Joint Tax Filing with Spouses 09:30 – Tax Treatment of IRAs and 401(k)s in Canada 10:04 – U.S. Brokerage Accounts and Capital Gains in Canada 10:14 – Cost Basis Reset When You Become a Canadian Tax Resident 10:55 - Differences in Taxation of Investment Income 11:17 – Selling a U.S. Home After Moving to Canada 11:50 – Final Tips for the 2025 Tax Season Get in touch with me (please note I do not offer tax return preparation services) - [email protected]