KeatsConnelly Cross-Border Weekly Best of the Web 2013-3-8

web-search-greyEvery week we share news stories, blog articles and other interesting stuff from around the web that received the most views, shares, comments and overall interest on various KeatsConnelly social media outlets.

On tap this week – updated news on the Keystone XL project, an interesting view on seeking citizenship in the United States, an article reviewing wealth projections for Canadians over the next decade and an overview of an important tax planning concept that’s often overlook

Update: Keystone XL gets blessing from U.S. State Department, clears major hurdle (www.calgaryherald.com ) – The American government is making no final conclusion yet on the proposed Keystone XL pipeline but says that the fate of the project will not materially impact the growth of Alberta’s oilsands. TransCanada’s $7-billion pipeline project — proposed to ship oilsands crude to refineries on the United States Gulf Coast — has been in the crosshairs of environmentalists keen to halt oilsands expansion…

Many Avoid Tough Path to Citizenship (www.wsj.com) [Subscription required]- The move to overhaul the nation’s immigration system has stirred controversy in part over the issue of offering citizenship to the estimated 11 million illegal immigrants in the country. But judging by the last time the U.S. opened such a path for illegal immigrants then in the country, many fewer than 11 million likely would become citizens. After the 1986 immigration overhaul, fewer than half of those eligible became naturalized. A key reason: the government’s requirements for would-be citizens. ..

Ranks of rich Canadians to swell 35% over next 10 years (www.theglobeandmail.com) – The number of rich Canadians is projected to increase by 35 per cent over the next decade, with Toronto boasting the biggest concentration of wealth, according to a new report today. The Knight Frank report, which looks at 80 markets, puts the number of high net worth individuals at 4,922 in 2012, and forecasts their ranks will swell to 6,637 by 2022. (These are folks whose net assets are at least $30-million U.S.)…

“Permanent Marginal” Tax Rate: An Important Concept (www.keatsconnelly.com) – A frequent struggle when working with clients and their tax preparers on tax matters is helping them balance current tax savings with potential future tax costs. As a financial planner, I am often looking at a client’s tax picture over many years and decades, whereas the client and tax preparer often are focused on the past year, current year and occasionally the next year. These two different focus-points can lead to very different recommendations and strategies…

Come back next Friday for more interesting news and articles. Enjoy your weekend!

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A Canadian's Best Tax Haven
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Taxation of Canadians in America
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Taxation of Americans in Canada
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