Tariff talk has become unavoidable in 2025. And it goes beyond the specific prices of certain products; the financial questions and concerns facing Canadians and Americans with cross-border ties are becoming more complex.
When it comes to retirement or tax planning, the most pressing questions are changing. It’s not just “Am I saving enough?” or “When should I take CPP?” Top-of-mind questions are more along the lines of:
“If the trade war keeps escalating, should I still hold U.S. citizenship?”
“Is Social Security still reliable if I’m living in Canada?”
“I freelance for a U.S. company—could tariffs affect me too?”
These aren’t hypothetical. They’re the kinds of questions clients bring to the table when they’re trying to plan responsibly but feel like the ground might shift under them. In a recent interview with The Globe and Mail, our co-founder Irina Matco shared how we’re approaching these issues at i2 Wealth.
“What happens if I give up my U.S. citizenship?”
One of the key concerns Irina highlighted in the interview was the financial impact of U.S. citizenship renunciation—particularly in light of growing uncertainty around tax treaty protections.
“This concern stems from the possibility of losing certain treaty benefits or becoming subject to double taxation in the future,” she explained.
For individuals considering renunciation, Ms. Matco noted that the process involves a thorough analysis. She conducts a series of tests to determine what the financial consequences might be—both immediately and over the long term. That includes identifying whether the individual would be subject to a capital gains tax at the time of renunciation, and assessing how their overall tax position could change once U.S. obligations are removed.
At i2 Wealth, we approach this kind of decision carefully. We help clients evaluate the financial, legal, and practical implications before they take any steps—ensuring that the path forward is fully understood.
Learn more about our cross-border financial planning process.
“Can I really count on U.S. Social Security?”
This one comes up more than you’d think—especially with clients who worked in the U.S. earlier in their careers and now plan to retire in Canada. They want to know: Is Social Security something I should still plan around?
“Based on the 2024 annual report, projections indicate the trust fund could run out of money by 2035 unless changes are made,” Irina noted.
Some folks want us to run projections with reduced benefits. Others prefer to leave it out altogether, just in case. We don’t make that call for them—but we do help them model the different outcomes, so they’re not left guessing.
What matters is having a plan that still works, even if parts of it shift.
“I freelance for a U.S. company—do I need to worry about tariffs?”
Canadian freelancers working for U.S. companies are starting to ask whether their income could get caught in the crossfire.
“There’s a growing concern the trade war could extend beyond goods and affect individuals as well,” Irina said.
There’s nothing on the books right now targeting cross-border service work. But the fact that clients are asking tells us it’s time to pay attention. In some cases, it’s worth looking at how payments are structured or how the business is set up—just to make sure there’s flexibility if things change.
That doesn’t mean panicking. It means planning ahead.
What we do—and why it’s different
At i2 Wealth, we focus exclusively on helping individuals navigate the financial complexities that come with living, working, or retiring across U.S. and Canadian borders.
Our only goal is to give you clear, informed advice—advice that’s grounded in the unique tax and regulatory systems on both sides of the border. It means our guidance is shaped by your goals, not by commissions or performance metrics.
Whether you’re evaluating the tax consequences of U.S. citizenship, figuring out how Social Security fits into your Canadian retirement plan, or structuring cross-border freelance income, we help you understand the rules and how they apply specifically to you.
And if you’re not sure what to ask? That’s okay too. Many of our clients come to us with a general sense that their situation is complicated. They’re looking for someone who can help them see the full picture, and what’s at stake if they don’t.
This is our specialty. It’s what we do every day.
Meet our team to see the experience behind our advice.
Want to talk through your cross-border situation?
We understand that reaching out can feel like a big step—especially when your financial life spans two countries, two tax systems, and a lot of unknowns.
But that’s exactly why we’re here. Our planning process is built to help you untangle those complexities and avoid costly missteps down the road.
Whether you’re dealing with a specific issue or just trying to understand how all the moving parts fit together, we’ll meet you where you are—with thoughtful, objective guidance that puts your needs first.