10 Mistakes Snowbirds Make & Owning Foreign Property

Unlock the Secrets to Smart Snowbirding: Avoid the 10 Biggest Mistakes Snowbirds Make and what you should know about Owning Foreign Property in the US as a Canadian!

Date: Wednesday, October 2, 2024
Time: 2:00 PM
Location: Coast Capri Hotel

Are you dreaming of escaping the winter chill by owning a slice of paradise abroad? Before you take the plunge this year, join us for an eye-opening session that could save you from the most common—and costly—mistakes snowbirds make.

Whether you're a seasoned snowbird or just starting to explore your options, this event is your passport to making informed and confident decisions. Don’t miss out on the chance to safeguard your dream of owning foreign property!

Secure your spot today—because a little knowledge can go a long way in making your winter escape more peaceful.

Karen Erickson, CFP, RRC & Kayla Caruana, CFP, BBA, RRC

Our practice is focused on developing tailored solutions and serving the 50+ market and business executives. We are all about building exceptional relationships. Our mission is to assist clients to preserve capital, reduce tax and increase their net worth by providing a comprehensive written financial plan with regular updates, complete with full transparency. We pride ourselves on keeping clients informed of market opportunities. We proactively adjust your plan as opportunities are identified, and deliver tax efficient strategies across all aspects, creating peace of mind and improved financial well-being. Ultimately creating a positive client experience for our high value clients.

Karen Erickson CFP®, RRC

Executive Financial Consultant

Karen is the co-lead of our practice. The high-net-worth client experience, investment planning and charitable giving are her number one priority. Karen’s career with IG started in 1997 as a marketing assistant. By 2006 she decided to lead her own team and obtain her CERTIFIED FINANCIAL PLANNER® designation before the designation became popular. Karen understood the importance of education and dedication to the industry’s professionalism. Karen excelled at expanding her practice and earned four pillars1 for her first four years of achievement. Karen was recognized by IG as a strong leader and took both a Division Director position and then a Regional Director (leading Kelowna, West Kelowna, Vernon and Penticton) position which lasted for a total of ten years. In March 2019, Karen decided to step down from management and partner with her daughter already in the industry, Kayla. In the same year Karen won Kelowna’s Top 40 over 40. Karen is a dedicated active philanthropist and has served a full term of 8 years on the board for United Way; she also helps with the organization of our local Alzheimer’s Walk. In 2021 was the recipient of the coveted “Herbert H. Carnegie” award. This award can only be earned once in someone’s career, they must have outstanding client service, and demonstrated a strong commitment to their community.

Kayla Caruana BBA, CFP®, RRC

Senior Financial Consultant

Kayla is the co-lead of our practice. The high-net-worth client experience and retirement income planning is her number one priority. She went to post-secondary at Okanagan College in Kelowna, BC and Camosun College in Victoria, BC. She obtained a Bachelor of Business Degree (BBA) in Finance in 2016. Kayla started her career with IG Wealth Management as an assistant and transitioned to a consultant June 2016. In 2019, she obtained her CERTIFIED FINANCIAL PLANNER® (CFP) designation and was named the youngest CFP professional in IG across Canada at the time of reception. She is currently working towards her Chartered Life Underwriter (CLU) designation. Kayla leads an award winning practice, has since been named Young Entrepreneur of the Year (2019), Kelowna’s Top 40 Under 40 (2020), and Philanthropist of the Year (2019). In 2022, Kayla and Karen were named “Best Financial Advisory Team” in Kelowna. In March of 2023 she completed the IG Wealth Management: Wharton Behavioral Finance for Private Clients Program with The University of Pennsylvania. Kayla is a huge supporter of title protection in our industry and encourages ongoing professional development. She is a Director in our local Advocis board and travels throughout Canada to promote title protection and raising the bar in our industry.

www.karenandkayla.ca

NEW Speaker! Real Estate Ownership in the US for Canadian Citizens

FIRPTA CANADA INC. was created with a single purpose: to simplify the process of selling U.S. property for our fellow Canadians. That’s all we do, and we’re proud to say we do it really well.

We get a great deal of satisfaction when we know we’re making your life easier, so you can spend more time doing things you enjoy.

https://firptacanada.ca/

Asif Rahemtulla, EA, CAA

MANAGING PARTNER

Hi, I’m Asif. I come from a family of entrepreneurs and business owners. After holding senior positions in the corporate world, I decided to chart my own course to create something that could benefit others in my community. I started Platinum Bookkeeping and Tax in 2017 to serve small businesses in Canada.

I am an Enrolled Agent (EA), admitted to practice before the IRS, and a Certifying Acceptance Agent (CAA) for the IRS. As we developed our U.S. services, we saw a growing need for a comprehensive solution for Canadians selling U.S. property interests. Whether they have vacation properties or rental properties, Canadians are forced to deal with a multitude of service providers in what can be a very complex, confusing process. I recognized the need to create a one-stop service offering where everything from FIRPTA compliance all the way through to the ending Canadian tax return can be handled seamlessly and efficiently. Thus FIRPTA CANADA was born.

We are truly excited to work with our Canadian clients, simplifying an occasionally daunting process. Sit back, relax, and let us take care of everything from start to finish, or anywhere in between, based on your specific needs.

Jeanine Wilk, EA

LEAD, FIRPTA & U.S. TAX

Hi, I’m Jeanine. I work closely with FIRPTA CANADA’s Canadian clients, helping them navigate the complexity of U.S tax when dealing with real property in the U.S and the necessary tax returns and documents that need to be filed. Dealing with U.S. taxes, especially as a Canadian citizen, isn’t the most fun thing you’ll ever do, but my goal is to make it as enjoyable as possible.

Prior to joining FIRPTA CANADA, I worked at a law firm that specializes in U.S. tax. Handling very complex cases for clients gave me well-rounded insight into how the U.S. tax system works. I find the intricacy of U.S. tax to be very interesting and exciting, so it made sense to become an Enrolled Agent (EA), admitted to practice before the IRS.

I see myself and the client as a team. You won’t find me quoting from the Internal Revenue Code; I explain things in easy-to-understand language so you know exactly what’s happening at each stage. I look forward to working with you and helping you through the process.