Serbinski Accounting Firms

Thanks nelson - you have been helpful.

Is there a good website to keep track of changes to US and Canada tax laws and proposed legislations?

(I understand that the laws and exceptions can change. But, as things currently stands, am I not exempt if I choose to give up my GC before 2011?)

Can you elaborate on that?

This is what I've been looking over:
http://www.taxalmanac.org/index.php/Sec._877._Expatriation_to_avoid_tax

Everything in there refers to 'a loss of US citizenship.' A lawful permanent resident is treated as a citizen (for tax purposes) only if he/she meets at least ...

Thanks for the reply. And, thanks for pointing out something I may not have come across otherwise: the [slightly ridiculous] expat tax.

Thankfully, it doesn't seem to apply to me:

(2) Long-term resident
For purposes of this subsection, the term ''long-term
resident'' means any individual (other ...

Never mind. I think I have a good answer that works for me.

Assuming that I am successful, I can give up my GC and move to Canada (and be answerable to Canadian tax laws). I'd still be able to go back to the US as a visitor without tax implications.

Assuming that I am unsuccessful, I can retain my ...

I am a Canadian citizen and a US Green Card Holder.

Dilemma: I have an option to start a business in the near future that could result in an eventual income of >$10 million.

Since I have the option to reside in either US or Canada, I am reviewing the tax implications of both.

Things that I have ...