The US taxes its citizens and green card holders wherever they are in the world.  If you want the benefit of US Citizenship, you must file a US return.

More and more individuals and corporations are looking at Canada as a place to work and do business.  With it comes the uncertainty of Canadian taxation.  There are a number of issues that need to be addressed when spending just one day working in Canada.  Some of these concerns are:

• Residency concerns
  • Do I have to pay taxes in both countries?
  • Can I avoid paying foreign taxes?
  • Is there a treaty with my host country?  Will I continue to be
  ...resident there?
  • Will I be caught if I don’t pay US taxes?
  • How will the IRS find me?
  • I don’t want to pay any US tax.  How can I avoid it?
  • What happens if I give up my US citizenship?
  • I’ve never lived in the US, so why do I now owe US taxes?
  • I thought US tax rates were lower than in Canada?
  • Am I double taxed?

• Employment income
  • I’m on foreign payroll.  Can the US tax me?
  • How is my employment income taxed now that I working
  ...outside the US?
  • What is the foreign earned income exclusion?
  • How will Alternative Minimum Tax (AMT) affect me?
  • Can I continue to pay into US Social Security (FICA)?

• Investing
  • What happens to my US investments?
  • What happens to my foreign investments when I return to the US?
  • Can I keep my foreign bank accounts when I return to the US?
  • Why does the US want to know about all my foreign bank
  ...accounts?
  • Are there investment restrictions as a result of my move?
  • What should I do with my IRA or 401(k)?
  • Can I shelter assets from Canadian taxation?
  • I own a non-US corporation, what do I have to report to the US?