KeatsConnelly Cross-Border Weekly Best of the Web 2016-10-28

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.

Featured this week include a piece reviewing a legislative quagmire involving Canada-US border issues, a view on Canadian debt, and finally a piece covering recently announced 2017 US income tax adjustments (also reviewed by our own Dale Walters here.)

Canada-U.S. border deal stuck in legislative limbo and will depend on lame-duck Congress to free it (ttp://www.financialpost.com) – A border agreement to expedite the movement of people and goods across the Canada-U.S. border has stalled and will likely depend on a lame-duck session of the U.S. Congress to get the boost it needs to become law. U.S. President Barack Obama and now-former Prime Minister Stephen Harper signed the Canada-U.S. preclearance agreement in March 2015. But it has yet to be implemented, because it is awaiting enabling legislation in both countries…

Canada’s record household debt is threatening its financial stability, global bankers fear (http://www.financialpost.com/) – Canada’s debt, swelled by a decade-long housing boom to almost triple the size of its economy, is drawing increasing concern from an international banking community that says it threatens growth and financial stability. The combined debt of Canadian governments, companies and households reached US$4.4 trillion in the first quarter, or 288 per cent of gross domestic product, exceeding the same gauge for the U.S., the U.K. and Italy, according to the Bank for International Settlements…

IRS Announces 2017 Tax Rates, Standard Deductions, Exemption Amounts and More (http://www.forbes.com/) – The Internal Revenue Service (IRS) has announced the annual inflation adjustments for a number of provisions for the year 2017, including tax rate schedules, tax tables, and cost-of-living adjustments for certain tax items. These are the applicable numbers for the tax year 2017 – in other words, effective January 1, 2017. They are NOT the numbers and tax rates that you’ll use to prepare your 2016 tax returns in 2017 (you’ll find them here). Rather, these numbers and tax rates are those you’ll use to prepare your 2017 tax returns in 2018. If you aren’t expecting any significant changes, you can use the updated tax tables to estimate your liability for the 2017 tax year. If, however, you are expecting to make more money, get married, buy a house, have a baby or other life change, you’ll want to consider adjusting your withholding or tweaking your estimated tax payments…

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

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Cross-Border Series
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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.
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