Diane Olson, Realtor Just a few years ago, when most Canadians were buying properties in Arizona, the Canadian and U.S. dollars were close in value, affording buyers deeply discounted homes. Those halcyon days are over for the buyer’s market. Today, prices are up from 2011 levels, and the Canadian dollar has dropped to a long-time […]
Adam D. Martinez, Esq. Question: My wife and I live in Canada and own a beautiful home in Chandler, Arizona. The Chandler home was titled in my wife’s name and her name is the only name on the loan because I always believed she would outlive me. Recently, she passed away unexpectedly. A friend informed […]
Christa Walkden 49th Parallel Tax Services If you have recently sold your property and are taking furniture and other household items back to Canada, you will want to avoid any surprises. Consider the following: Bringing back goods to Canada that were originally purchased in Canada should not attract duties and taxes; however the burden of […]
Adam D. Martinez, Esq. Question: My husband and I own property in Canada and Arizona. Our home in Arizona is only in my husband’s name. After my husband died recently, I was told that I need to do a probate in Arizona in order to sell our home. Doesn’t being married avoid probate? Answer: […]
Christa Walkden 49th Parallel Tax Services The U.S. tax filing season opens on January 20th. If you are a Canadian with rental income from your U.S. property, you can start gathering up your information to get ready to file your U.S. tax return. If this is your first year filing, you will need the total […]
Adam D. Martinez, Esq. Question: My wife and I live in a vacation home in Scottsdale part of the year. Last year, our neighbor planted a few fast growing trees on the side of his property near our sewer main. Recently, we had to call a plumber because of a plumbing obstruction. The plumber informed […]
Christa Walkden 49th Parallel Tax Services It is not unusual for tax treatment to differ between Canada and the U.S. with respect to rental property expenses. CRA is generally more liberal in accepting expenses as current period expenses whereas the IRS has more rigid guidelines on what constitutes a current expense versus a capital expense. […]
Adam D. Martinez, Esq. Question: I live in Canada and own a rental home in Arizona. My tenant’s lease expires at the end of this month and I have considered listing the home for a short term rental for the Fiesta Bowl at the end of December and then Super Bowl 2015. While I know […]
Christa Walkden 49th Parallel Tax Services In all cases, determining whether travel costs are deductible depends on whether time spent at your property (or properties) was for personal or business purposes. If you travel and spend a portion of time at your vacation property and the remaining portion at your rental property for management, conservation […]
Adam D. Martinez, Esq. Question: My husband and I live in Vancouver and spend six months in Scottsdale during the winter. Last year we downsized from our home in Scottsdale and purchased a condo a few miles away, but we decided to keep our home as a rental. Recently, our tenants moved out. They left […]
- Recent Posts
- The Perfect Storm Reversed?
- My Mortgage Lender Will Not Speak to Me
- Bringing furniture and other household items back to Canada
- Can You Avoid Probate?
- It’s almost tax time
- What If My Neighbor’s Tree Is Damaging My Home?
- Tax Differences Between Canada and the U.S.
- Can I Rent My Home For The Super Bowl?
- When are travel costs deductible?
- What Can I Do About Damage Caused By A Tenant?