Preparing for the Canadian Transaction

Description

2. Financing & Currency Exchange 3. Tax Implications (U.S. & Canadian) - FIRPTA and other considerations 4. Ownership Structure - Each option has pros and cons in terms of liability, taxation, and estate planning. 5. Intended Use of the Property - Personal use, vacation/rental income, or investment—each use type has different legal, tax, and insurance implications. Rental income is taxable in the U.S. and must be reported to the IRS, typically via a U.S. Individual Taxpayer Identification Number (ITIN). 6. Insurance & Legal Protections 7. Working with the Right Professionals - who understand both U.S. and Canadian regulations. Instructor: Brett Brown