KeatsConnelly Cross-Border Weekly Best of the Web 2015-4-10

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.

This week’s articles offer a variety of topics beginning with a piece for first time Canadian tax filers, then moving on to an interesting piece about US expats, followed by tips from our own Dale Walters and finishing with an interesting piece sharing financial lessons from a variety of writers.

Filing your taxes for the first time? Tax tips for young Canadians (www.theglobeandmail.com)  – The dreaded tax season looks even more daunting when you’re a first-time filer, and one of the challenges for young Canadians can be knowing where to start. Tax advisers say teenagers and young adults should take a pro-active approach to tax season, and file their own documents themselves before the April 30 deadline, rather than relying on parents or a tax professional…

On the Trail of the Elusive U.S. Expat Taxpayer (http://www.wsj.com/) – The U.S. State Department estimates there are about 7.6 million American expats living abroad, excluding military personnel, but the Internal Revenue Service typically hears from fewer than a million of them, indicating that many who owe U.S. taxes aren’t paying them. The IRS has no idea how many are breaking the law. “To our knowledge, the IRS does not have the ability to estimate how many expats may have a filing requirement,” says Kenneth J. Drexler, senior adviser to the Taxpayer Advocate of the IRS…

Financial tips from Dale Walters of KeatsConnelly (http://www.azbigmedia.com/) – 2015 trend to watch: “The most significant trend is the increasing complexity of the tax system and the cost of complying. The Affordable Care Act has many complicated and confusing rules that must be followed and many of those are related to tax credits; these rules apply to individuals and companies. The other tax-related tax complexity has to do with Net Investment Income Tax…

My Biggest Financial Lesson (http://www.nytimes.com/) – Most of us have one, or sometimes more than one: a turning point or a moment when our feelings about money crystallize. When that happens, we know it and resolve to think about our finances in a different way while saving, spending or giving away money much more carefully. In these pages, you’ll read about grandparents who made an outsize impact when parents were not fully engaged, and parents who spent more (much more) in areas where their own parents had kept their wallets shut tight. A boss makes an appearance and, surprisingly, de-emphasizes money. A good friend teaches a valuable lesson over a free lunch. And another chides our correspondent for taking unnecessary risks with both of their lives…

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

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Cross-Border Series
The Border Guide
Now available in its 11th edition, The Border Guide has sold over 80,000 copies and is considered the definitive cross-border financial tool for Canadians living, working and investing in the United States.
A Canadian's Best Tax Haven
This book will show you how to realize your dream of living a lifestyle in a climate that allows for year-round golfing and sandy beaches while lowering your taxes and cost of living.
Taxation of Canadians in America
This book addresses individual US taxation and estate planning issues you will face as a Canadian living in the US.
Taxation of Americans in Canada
US citizens and green card holders are subject to US tax regardless of where they reside in the world. Are YOU at risk?

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