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Good To Know… Part 2 – From Larry Stolberg, CPA, CA



Larry Stolberg - 11-25-15

Short Blog Posts In One Location…

◊ FBAR DUE DATES ALIGN WITH TAX RETURNS
The SURFACE TRANSPORTATION ACT OF 2015
Confirmation that the foregoing ACT in Section 2606(3)(11)  makes reference to Regulation 1.6081-5  of the IRC which confirms that the due dates will conform to the June 15th  automatic extension  if one resides outside of the U.S. on April 15th. One may file IRS Form 4868 to extend the date to October 15th. The Secretary may waive penalties for first time filers with the penalties if the 4868 is not filed.

◊ Leaving Canada requires departure planning not to be left to the day before you leave.

◊ CRA has changed the rules for the charitable gifts outlined in your WILL.

◊ Starting in 2016, the new Canadian testamentary trust rules need to be examined for estates pushing 36 months.

◊ Canadians carrying on business in the U.S. do not wish to use a U.S. LLC!

Original Post By:  Larry Stolberg

Next:  Good To Know… Part 3 – From Larry Stolberg, CPA, CA

 

Larry Stolberg, CPA, CA, CPA (South Carolina), has been practicing as a full-time tax specialist for over 30 years, in the Toronto, Ontario Canada and surrounding GTA area with primary emphasis on:

•Corporate restructuring for business owners
•Estate/succession planning
•U.S. expatriate and cross border issues
•Tax efficient planning that will achieve both your short and long term objectives

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