Dealing with the new administration in Washington won’t be easy, but it may offer opportunities for Canada and for investors. So says Darren’s guest Dennis Mitchell, CEO and CIO of Starlight Capital which is a wholly-owned subsidiary of Starlight Investments, a global real estate investment and asset management firm based in Toronto. Mitchell advises investors to take President Trump “seriously, but not literally."
Feb 20, 2025•45 min•Season 2Ep. 21
With winter upon us a lot of Canadians head to southern climates in the U.S. and many of them own American real estate. But Canadians who buy, and sell, U.S. real estate should be aware of the potential complications. Carol Sadler – Tax Leader at Achen Henderson CPAs in Calgary joins Darren to explore the different ways Canadians can buy U.S. real estate and what can – and often does – go wrong. Carol recommends planning ahead and thinking of your exit strategy for selling even before you buy....
Jan 30, 2025•50 min•Season 2Ep. 20
Tax lawyer Trevor Parry https://trevorparry.com/ once told Stephen Harper that Canada has more auditors than infantry. Not to be outdone, Kim Moody of Moodys Private Client https://kimgcmoody.com/ says in the eyes of the Canada Revenue Agency a cocaine dealer can deduct expenses in this country, but not an Airbnb operator. With a new administration taking over in the US and Canada soon to be in the throes of a federal election, both experts joined Darren to talk about everything from high-income...
Jan 10, 2025•37 min•Season 2Ep. 19
John Tavares of the Toronto Maple Leafs is in a dispute with the Canada Revenue Agency (CRA) that could have repercussions for pro athletes and high-income earners in many industries. Darren discusses the Tavares case with tax lawyer Shlomi Levy and tax accountant Kevyn Nightingale of Levy Salis LLP . The firm, which has NHL players as clients, is dedicated to US and Canadian tax and estate planning for individuals, corporations, and those with cross-border interests....
Oct 24, 2024•43 min•Season 2Ep. 18
Wealth management advisor Darren Coleman who specializes in cross-border financial issues discusses IT security with another Darren Coleman, founder of Coleman Technologies Inc. www.colemantechnologies.com which handles IT managed services and cyber services. The latter Coleman, who has been called Canada’s top IT expert, leads a team of technicians based in Langley, BC and Dallas, Texas. He said hacking is a trillion-dollar industry and business owners should take note....
Oct 10, 2024•36 min•Season 2Ep. 17
When it comes to investing fear is stronger than greed. Investing guru Larry Sarbit talks about "the tyranny of the index" with Darren on this episode. Sarbit, Founder and Chief Investment Officer of the Winnipeg-based Sarbit Advisory Services Inc. and one of Canada’s most highly respected asset managers, says most people don’t know how to invest.
Sep 20, 2024•33 min•Season 2Ep. 16
Darren’s guest is Yvonne Dobronyi, an eldercare consultant who counsels individuals and families through her firm YCD Consulting. https://www.linkedin.com/in/yvonne-dobronyi-14116222/ “Families are in denial and do not want to ask difficult questions about moving Mom or Dad to an assisted-living facility,” says Yvonne who added that more than half the families she comes across are not prepared for dealing with one, never mind two, elderly parents....
Sep 06, 2024•47 min•Season 2Ep. 15
Tax lawyer Anna Malazhavaya who leads the firm Advotax Law joins Darren for this episode. Advotax is a team of lawyers and tax professionals that serves individuals, businesses and real estate property owners with tax planning and tax-dispute resolutions involving the Canada Revenue Agency. The discussion explores everything from the capital gains inclusion rate to expanded powers of the CRA to more of their clients asking about moving to the US....
Aug 22, 2024•49 min•Season 2Ep. 14
Kim Moody of Moodys Private Client – a firm providing law, and cross-border tax and accounting services joins Darren on this episde. Moody recently wrote an article in The Financial Post about the government flirting with the idea of a home equity tax, even on principal residences. Such a tax could result in an annual levy of about $10,000 for a home worth $1 million. He called that, along with the increase in the capital gains inclusion rate which has already passed into law, “really bad tax pl...
Aug 07, 2024•43 min•Season 2Ep. 13
Tax lawyer Trevor Parry makes his second appearance on Two Way Traffic, and like the first time he doesn’t pull any punches. On this episode, Parry says tax is the single greatest threat to capital, and that the key is how do people make money and how do they keep it. “Canadians must become financially literate,” he says. “Most people are unaware and eat the government pablum. In the end you must look out for yourself.”
Jul 24, 2024•36 min•Season 2Ep. 12
Lawyers, accountants, bankers and financial advisors have their own expertise, but when it comes to seeking advice with money and assets you can’t do better than a trusted team. That's the message as Darren chats with lawyers Kevin Kirkpatrick and Azam Rajan of Bordera Tax and Immigration Law. https://bordera.ca/ They discuss the importance of seeking advice from professionals who know the deal on both sides of the border, not to mention American consultants who may not be familiar with internat...
Jul 11, 2024•46 min•Season 2Ep. 11
The federal government’s claim that the increased inclusion rate for capital gains applies only to a small number of people is a “bald-faced lie” according to Darren’s guest, outspoken lawyer and tax specialist Trevor Parry. https://trevorparry.com/ They discuss other impacts of the federal budget, the advantages of using a life insurance policy inside a corporate entity, and why holding and not selling your asset might be the best long-term plan....
May 30, 2024•36 min•Season 2Ep. 10
Today many people work from home but this can create problems with an employer. And if that employer is in another country like the United States things get even more difficult. In the aftermath of Covid remote working has become common but there can be all kinds of issues. Sharon Conrod, an accountant with Hanson Crossborder Tax https://www.hcbtax.com/ , is Darren’s guest, and the two explore what can go wrong.
May 09, 2024•49 min•Season 2Ep. 9
Canadians who return to the country after working south of the border may face “punitive” exit taxes from the U.S. and it doesn’t matter if their leaving is due to a divorce, illness or something else. Darren’s guest is John Richardson of Citizenship Solutions , a Toronto-based lawyer who was born in the U.S. and has lived most of his life in Canada. His practice is largely devoted to assisting Americans who live outside the U.S. John says Americans living in Canada are often treated “unjustly” ...
Apr 18, 2024•46 min•Season 2Ep. 8
Canadians who buy real estate in the United States often do so for emotional reasons but aren’t aware of all the problems that can arise. Darren tackles this with Shlomi Levy of Levy Salis LLP, whose practice is dedicated to US and Canadian tax and estate planning for individuals and corporations. The firm has offices in Montreal, Toronto and Florida. https://levysalis.com/ Darren and Shlomi discuss ways Canadians can buy US property, how to raise financing, differences between US states, and va...
Mar 27, 2024•43 min•Season 2Ep. 7
Today people can work from anywhere – even across national borders – that coupled with increasingly mobile families means citizenship and immigration issues often come to the fore. People usually move from Canada to the US, or vice versa, because of three things – love, work or school. Melissa Babel is an immigration lawyer who runs a boutique firm https://babelimmigrationlaw.com that deals with citizenship and immigration matters. In this episode, Darren and Melissa address a host of issues tha...
Mar 06, 2024•38 min•Season 2Ep. 6
Darren’s guest is Laura McLeman, a Certified Professional Accountant and Certified Public Accountant, and expert on cross-border tax. She said the largest population of Americans living outside the U.S. is in Canada, and that many of them have tax issues. Like being an ‘accidental American.’ People born in the U.S. but who have lived most of their lives in Canada often don’t realize they must file a tax return. Darren and Laura also explore potential pitfalls of carrying a Green Card, the comple...
Feb 08, 2024•53 min•Season 2Ep. 5
All sorts of cross-border issues can arise when a Canadian decides to marry an American and many couples are not prepared. That’s the subject of this episode. Joining Darren is Véronique Malka, founder of the Canadian Law Group, a Canadian mobility firm based in New Jersey with offices north of the border. https://canadianlawgroup.com/about/ Véronique and Darren have seen everything. That includes a couple planning an expensive wedding only to learn one of them wasn’t allowed over the border, a ...
Jan 10, 2024•41 min•Season 2Ep. 4
The financial planning industry has it wrong when it comes to giving retirement advice because all the models and plans being used are out of date. On episode 3, it's Darren with guest Dr. Preet Banerjee, and the two discuss this phenomenon of living longer and its impact on finances. Links... preetbanerjee.com twitter.com/preetbanerjee www.youtube.com/@PreetBanerjee Real or AI? www.youtube.com/watch?v=d3626gL14lM...
Dec 12, 2023•42 min•Season 2Ep. 3
Canadians who work in the US often don’t realize how complicated that can be with multiple issues concerning immigration and visas, managing accounts with various financial institutions, not to mention situations involving other family members. All these things are addressed in this episode of Two Way Traffic. Once again, joining Darren is Véronique Malka, founder of the Canadian Law Group https://canadianlawgroup.com/about/ , along with Miami based, Freddy Abitbol of Hypotec Inc. https://hypote...
Nov 07, 2023•43 min•Season 2Ep. 2
Welcome back! On this episode of Two Way Traffic, Darren gets into an array of financial and immigration topics – implications of the Canada-US-Mexico Agreement which replaced NAFTA, non-immigrant vs. immigrant visas, potential tax issues especially since the two countries have different tax regimes, how to qualify for a mortgage in the U.S., and how to handle your investment accounts on either side of the border. Joining Darren is Véronique Malka, founder of the Canadian Law Group https://canad...
Oct 11, 2023•44 min•Season 2Ep. 1
It’s 2021, and Covid-19 is still with us, but Donald Trump is not. On this, the second of two episodes recorded on January 22nd, just a couple days after the inauguration… Elena and Darren discuss President Joe Biden’s upcoming changes coming for both personal & corporate taxation, with a big focus on the potential corporate reforms. . Much of this conversation stems from a January 6th Globe & Mail article featuring Darren & Elena, entitled How Biden’s tax proposals could affect U.S....
Feb 14, 2021•22 min•Season 1Ep. 6
Welcome back Elena and Darren! It is 2021 and Covid-19 is still with us, but Donald Trump is not. On the next two episodes, both recorded on January 22nd, just a couple days after the Inauguration… Elena and Darren discuss President Joe Biden’s potential changes coming for both personal & corporate taxation . Much of the conversation stems from a January 6th Globe & Mail article featuring Darren & Elena, entitled How Biden’s tax proposals could affect U.S. persons in Canada. This pod...
Jan 30, 2021•23 min•Season 1Ep. 5
Elena and Darren discuss the fallout of COVID-19 from an economic and crossborder tax perspective. Tune in to find out how you should approach the current situation in terms of financial mindset and how you can plan for life after quarantine. Topics in episode 4 include: Measures the Canadian and U.S. governments are taking to support families / workers and stimulate the economy during this unprecedented downturn Differences between Canadian and U.S. stimulus packages and tax systems Positive st...
Mar 27, 2020•23 min•Season 1Ep. 4
In episode 3, the cross-border discussion continues with a look at the many U.S. tax considerations for “snowbirds”, including health coverage, tracking days spent in the U.S., buying property, and cross-border banking and investment instructions. Listen to a candid discussion on the following topics. The Substantial Presence Test and Closer Connection Exception – When does a snowbird become a U.S. resident for tax purposes? The difference between worldwide taxation vs. worldwide reporting oblig...
Mar 22, 2020•24 min•Season 1Ep. 3
In episode 2, we carry on our discussion around cross-border mobility, this time from the perspective of the owner-manager. — Cross border Employees – Temporary vs. permanent assignees. — Tax Residency – Obligations to host country and home country. — Retirement Plans – Protecting retirement accounts before making a cross-border move. — Shareholder / Business Owner – Complications with cross border taxation of a corporation and the mismatch between Canada and U.S. tax provisions. — Passive Forei...
Feb 24, 2020•21 min•Season 1Ep. 2
In this episode, we introduce many common cross-border issues that may arise when someone has money, family on both sides of the border or changes their tax home. These are: Tax Residency – how this is defined differently in Canada and the U.S. Tax Reporting – how this may arise unexpectedly when a U.S. person holds certain investments such as PFIC’s and CFC’s How Canadian savings vehicles such as RESP’s, RRSP’s, and TFSA’s may be an issue for U.S. persons The difference between a U.S. Person ex...
Jan 14, 2020•22 min•Season 1Ep. 1
