Skip to main content

Personal Finance ‘Don’t mess with the IRS’: The snowbird’s guide to foreign ownership, health care and U.S. taxation

Dreaming of wintering down south? Before you take flight to a warm, sunny destination, take a cold, hard look at the rules regarding insurance, health care, foreign ownership and taxation with our subscribers' guide to the snowbird life.

iStockphoto

Buying foreign property

Renting is easier, but the vacationing wealthy prefer to buy

Determining whether to rent or buy a property is a major financial decision that, even for the well-heeled, isn’t to be taken lightly.

Story continues below advertisement

Read the full story

Raul Rodriguez/iStock


For snowbirds, when is renting better than buying?

Renting a home away from home – as opposed to buying a property – is sometimes the better option for retirees looking to escape harsh Canadian winters.

Read the full story


Five things to consider before buying a snowbird property in the U.S.

Before you take a stake in U.S. real estate, here are five essential issues you should think about.

Read the full story

Story continues below advertisement


Insurance issues

P_Wei/istock

How to ensure your health care coverage on both sides of the border

Educate yourself on how U.S. tax rules, immigration issues and your Canadian permanent residency affect your health coverage.

Read the full story


Snowbirds: Don’t get caught without the right car insurance

Not knowing all the auto insurance rules ahead of time can result in harsh penalties.

Read the full story

Story continues below advertisement


Tax tips

Getty Images/iStockphoto

Spending too much time in the U.S. can trigger double tax

It pays to understand U.S. tax rules and the actions Canadians can take to avoid being taxed on worldwide income.

Read the full story


How to be a tax-smart snowbird with property in the U.S.

Transferring ownership of a U.S. property can be a real hassle for heirs, but there are several ways to avoid probate.

Read the full story

Story continues below advertisement


iStock

Wealthy snowbirds, beware the tax liabilities of U.S. stocks

This little-known IRS rule may have some wealthy Canadians eventually owing taxes on their U.S. stocks.

Read the full story


‘Don’t mess with the IRS’ and four other useful tax tips for snowbirds

Snowbirds must grasp rules and regulations not only from Canada Revenue Agency but also the Internal Revenue Service. Here are five of the most common tax head-scratchers and concerns.

Read the full story


Top destinations

Pawel Gaul

From Hawaii to Florida, five hot-spots for well-to-do snowbirds

Retirees looking for upscale amenities, an active community and perhaps even adventure want more than the usual U.S. destinations.

Read the full story


Five out-of-the-way destinations for wealthy snowbirds

Luxury amenities, private beaches and championship golf courses are waiting in out-of-the way destinations throughout the Caribbean and Mexico.

Read the full story


Other considerations

iStockphoto

How snowbirds can avoid being plucked when they buy U.S. dollars

Don’t compound the pain of foreign exchange by paying the stiff markups charged by banks.

Read the full story


Seven ways to keep your financial house in order while you’re away

There are a number of things that can be done to minimize financial headaches while you’re soaking up the sunshine.

Read the full story

Report an error Editorial code of conduct
Comments

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • All comments will be reviewed by one or more moderators before being posted to the site. This should only take a few moments.
  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed. Commenters who repeatedly violate community guidelines may be suspended, causing them to temporarily lose their ability to engage with comments.

Read our community guidelines here

Discussion loading ...

Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.