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Showing posts from July, 2024

The Economic and Security Alliance of Canada and the US

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  Our bilateral relationship is one of the most comprehensive and close-knit in the world, and the United States and Canada share the longest international border in the world, which is 5,525 miles long and has 120 land ports of entry. A daily trade of products and services between us amounts to over $2.6 billion. This commerce occurs every single day. Both the depth and breadth of the connection are highlighted in the Roadmap for a Renewed United States-Canada Partnership, which was released on February 23, 2021. It lays the groundwork for an aggressive and comprehensive action on the part of the government to combat the COVID-19 pandemic and to enhance our collective prosperity. There is a reaffirmation of a common commitment to diversity, equity, and justice, as well as the formation of a partnership regarding climate change, advancements in global health security, and strengthened collaboration regarding defense and security. Building on our common history and geography, our...

American Workers in Canada Navigating Tax Regulations

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  There's this fantasy, but it's not as easy as slapping fruit in a jar and flexing it." OMG the partners were like totally bickering over strategy. Roman wanted to go more nichey, selling to baby and bridal showers and cute boutiques, ya know? Scofield wanted to flex a new line with mad cheap jars. "It was like, bruh, it was becoming hella clear that we didn't vibe on the same wavelength," Roman spilled. Soon they stopped jamming together, fam. OMG, like for real, most entrepreneurs are shook when they find out that the peeps they trust the most are usually the least trustworthy when it comes to their ideas. It's like, so not cool, fam.   One big mood: flexing on fam and squad by selling early. This problem was like, hella pronounced in the clothing, food, and financial services industries, the researchers found. (The founders of Banana Republic and Maiden Preserves were not alone, fam.) "You never know why fam is copping from you," the researc...

Is Canada the Top Trading Partner for the US?

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    We are regarded as one of the greatest locations in the world to invest in and launch a business, and as a powerful, stable, and trustworthy trading nation. However, pressure is mounting on global supply networks now more than ever. Because of this, our government has recommitted to exploring new avenues for better serving and assisting Canadian business owners and entrepreneurs in their endeavors to prosper in the international marketplace through the Export Diversification Strategy. Market opportunities are expanded and diversified by free trade agreements like the Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Canada-United States-Mexico Agreement (CUSMA), popularly known as the new NAFTA. We will continue to collaborate with our foreign partners as we seek economic recovery, and we will assume a leading position in maintaining open suppl...

US Tax Obligations for Canadian-Based Jobs

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  In both cases, the peeps you're talking to are usually responding out of feels—either tryna make you feel good or tryna make themselves feel good (or at least justify their own risk aversion). Neither does you much good at all, fam.  So, like, check out these two wild stories, both about butterflies, but with totally different outcomes, ya know? Mel and Patricia Ziegler were so over their high-key stressful, low-key low-wage jobs. One issue with listening to your squad is that they might totally kill the vibe of your lit adventure. But the opposite problem is equally bad: Your friends might gas you up. And if ur dream is to make jam, that butter might be hella tempting. Alison Roman and Eva Scofield were coworkers at Brooklyn's lit Momofuku Milk Bar who were totally vibing with the artisanal food wave that was taking over their hood.  OMG, when they got the opportunity to flex at Brooklyn Flea, the lit AF market that's all about that farm-to-table vibe, they were like, ...

The Economic Ties Between US and Canada

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  Canadians believe that Canada is their best friend in the world, ranking slightly ahead of Great Britain and then with a significant gap down to third-ranked Italy in the comprehensive 2002 Chicago Council on Foreign Relations study of US attitudes toward foreign affairs. But the typical American knows very little about Canada and Canadians. Many people believe that the United States' top trading partners are China or Japan. As a matter of fact, American exports to Canada exceed those to Japan by nearly three times, and to China by twelve times. Additionally, in 2001, US exports to Canada exceeded US exports to the fifteen EU member states, which together account for 375 million people. About 19% of America's imports came from countries north of the border in 2001, while over 22% of its exports went to Canada. Canada has emerged as the top foreign supplier of essential petroleum products to the US, with $14.5 billion in shipments to the US in 2001 alone. The amount of Canadia...

Paying US Taxes While Living and Working in Canada

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  Before visiting fam in NYC one weekend, he whipped up a basic choco cake, put it on a lit white plate, and flexed it on the plane. "Flexin'  thru the airport n onto the plane, sec guards, flight attendants, passengers, n other travelers came up to me. Did you whip up that cake? Is it ur bday? U a baker, fam? It was like a vibe check, he said: cake = love. "Chillin' on the curb that night waitin' for my aunt Yvette, I realized I was straight up starin' at my future." In the mythic version of this story, Brown yeets his job, flexes on his squad for some cash, and starts a lit bakery. But like, in the real version of this story, he's lowkey stressing, scared to spill the tea to his squad and fam, and totally spiraling. Brown went to his boss and was like, "Yo, can I dip for three months without getting paid?" He didn't dip out completely, but he really thought he could flex and whip up a business plan (ugh), secure some cash, and pop off ...

Is Canada the Dominant Trade Partner for the US

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  Relations with the Peoples Republic of China  The Liberal Party government aimed to expand connections with the People's Republic of China (PRC) to lessen Canada's economic dependence on the US, which accounted for 75% of exports from 2013 to 2022.29 Relations between Canada and the People's Republic of China have worsened since December 2018, when Canada detained Meng Wanzhou, an executive at Huawei, in response to a US extradition request. In retribution for Meng's arrest, the PRC held two Canadians, Michael Kovrig and Michael Spavor, for almost three years. In September 2021, the PRC freed the "two Michaels," after Meng secured a deferred prosecution arrangement with US prosecutors and returned to China.  Canada's criticism of the PRC's human rights record has exacerbated relations. In May 2020, Canada, the US, the UK, and Australia expressed "deep concern" over China's decision to implement a new national security law in Hong Kong.3...

US-Canada Trade The Facts

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  Trade Fact Sheet: United States, Mexico, and Canada Converting NAFTA into a Trade Agreement Fit for the 21st Century A deal has been achieved by the US, Mexico, and Canada to update the 25-year-old NAFTA into a high-standard accord fit for the twenty-first century. Important Points: Safeguards for American Innovators and Creators The upcoming IP Chapter will So that American creators are not denied the same protections that domestic creators have in a foreign market, copyright and related rights must be given full national treatment. Keep up the good work of protecting American inventors with patents by instituting patent office best practices and patentability standards. This will allow American innovators, including small and medium-sized enterprises, to obtain patent protection for their inventions. Provide robust safeguards for inventors in agriculture and pharmaceuticals. mandate that works with a copyright term that is not dependent on the life of an individual must wait at...

Income Tax Considerations for US Citizens in Canada

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  Moving costs: If you had to move and set up a new home for work or to run a business in a different area, you can subtract certain moving costs from the income you made at your new job or business. A number of conditions must be met: For instance, you must be moving within Canada and more than 40 kilometers away from where you used to live. If you are moving to a different country, there are different rules that apply. Many Canadians help sick or disabled family members or children by giving them money through the Canada caregiver credit. Supportive actions can include a wide range of things, from giving food and a place to stay to driving to medical appointments. You might be able to get the caregiver credit if you help a close family member or dependent person with a disability with the things they need to live, even if the person doesn't live in Canada. In order to back up your claim, you need certain paperwork from a doctor. Check out the CRA website1 to see if you might be e...

Canada's Commodity Exchange Network Explained

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  Commodity futures markets offer a forum for the coordinated contract trading for future item delivery. These now cover a wide spectrum of goods including agricultural products, metals, forest products, petroleum fuels, interest rates, and stocks. Originally designed to solve the problems caused by the cyclical character of grain output, the futures markets were Grain has a limited harvest period and needs to be kept for use later on. This situation could cause an excess of supply during harvest and a risk of shortages prior to the next one. Harvest brought producers often a market bursting with supply. Prices could so drop drastically. Merchandisers, on the other hand, had to guarantee a consistent supply of grain to their customers considering the erratic grain sales and timing of farmers. While merchandisers and processors may be sure the price and supply will remain constant over the crop year, futures markets let growers decide a price for their product well in advance of i...

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