Why It Makes Sense to Hire a Cross-Border Financial Advisor


Expatriates living and working overseas face many challenges. They keep looking for answers to many financial questions such as:

  • How much do I need to retire comfortably?
  • Where should I invest?
  • What tax incentives can I apply for?
  • Should I buy a property?
  • How much insurance do I really need?

It can be overwhelming to find the right answers to these questions. For instance, if you are a Canadian citizen and your company assigns you to project in Washington for several years, then you might wonder how to navigate the cross-border financial planning maze. For Americans working in Canada or Canadians owning businesses in the USA, understanding the terms CPP, IRA, WEP, RRSP, etc. can be challenging. So, if you’re facing such difficulties, hiring a cross-border financial advisor is the best choice.

Importance of Cross-Border Financial Planning

People across the world are moving overseas in search of better work opportunities. Many Canadian and American citizens who move across the border face complex financial issues. To ensure a smooth transition and avoid legal issues, proper financial planning is important. One of the most important issues in moving abroad is double taxation. Canadians or Americans living across the border need proper cross-border tax planning to avoid paying excess taxes in both countries. Hiring a cross-border financial planning firm that offers services in the United States and Canada greatly helps in dealing with issues like double taxation, investment management, retirement planning, and much more.

Why Hire Cross-Border Tax Planning Advisor?

Tax laws aren’t the same globally. Every country has different rules and regulations for filing taxes. Understanding the tax laws of a new country can be challenging for expatriates. That’s why most people hire a cross-border financial advisor to deal with taxation, as well as achieve their financial goals. From tax laws to offshore investment, hiring a cross-border financial advisor greatly helps in meeting your specific financial goals. When taking temporary or permanent residence in another country, you will face unique challenges. A qualified financial advisor creates a tailored cross-border plan by evaluating your current financial situation and future goals. Let’s check out some reasons to seek the services of a qualified cross-border tax advisor.

1.       A Complete Cross-Border Plan

Cross-border financial planning immensely helps in creating a customized plan by assessing your current financial situation. An experienced cross-border tax planner listens to your future goals and creates a road map to get there. Their expertise helps you take sound financial and investment decisions. A financial planner can provide the analysis and recommendations you need to make these decisions. Certified Financial Planners provides a comprehensive tax planning solution. For Canadians and US citizens, these experts prepare tax returns for US Federal and State income tax, or Canadian income tax returns. Their expertise helps you take advantage of the US-Canada Income Tax Convention. When experts handle your taxes, you adhere to tax laws in both countries and find solutions that can align with your financial objectives. Besides managing taxes, they also provide other services like investment planning, wealth management, estate planning, retirement planning, and more.

2.       Claim All Possible Deductions

The role of tax advisors includes minimizing the tax burden of clients by claiming all available tax credits and deductions. These experts are well-versed in the tax systems of various countries. Cross-border planners specializing in Canadian and US taxation have experience with cross-border tax filings. They help expatriates avoid paying double taxes on their earnings. They also consider government incentives and credits for small businesses and start-ups.

3.       Prevent Mistakes

Hiring a professional not only helps in reducing tax liability but also ensures tax compliance. When handling taxes in another country, there’s a possibility of making mistakes. But when an expert manages your financial matters, it eliminates the risk of paying taxes twice or making errors that could lead to penalties or IRS audits. 


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