If you’re thinking of selling your home and have U.S. tax to think about, give us a call before you do so.
Some advance planning may save you thousands, if not tens of thousands of dollars in tax to the Federal government.
We have several planning techniques we use which address not only when to sell, but factor in what your position is with regards to your U.S. tax returns – past and present.
We can often provide valuable insight into what your likely U.S. tax implications are of selling, not just by applying the gain on sale of principal residence exclusion rules, but by assessing what underlying factors will directly impact your CGT bill in the U.S. You may be presently surprised by what we find you have up your sleeve simply by reviewing your prior year’s return. Give us a call to discuss how we can help you navigate this thorny issue for best results.