A Proactive Approach to Staying Compliant with the Canadian and US Tax Authorities.
We prefer to stay on top of all of the rules in both Canada and the US, so you don’t have to.
By keeping current on new tax laws and legislation in both Canada and the US, we are able to identify key planning opportunities for Canadians who have ties to the US and for Americans who have ties to Canada. We provide a range of services for those who require them on both sides of the border.
Are you a Canadian Resident and:
You must report all US source income by filing a 1040NR return. |
You must report all worldwide income by filing a 1040 return, including any applicable information returns.
You must report all US source rental income by filing a 1040NR return. You may also be subject to US estate taxes upon death. |
You must file a 1040NR return upon sale or death. You may also be subject to US estate taxes upon death. |
Depending on the type of US corporation, there are different forms that must be filed. |
Are you a US Resident and:
You must report all Canadian source income by filing a T1 return. |
You may report Canadian source rental income on an optional Section 216 tax return to get a refund of some or all of the non-resident withholding taxes.
You must file a T1 return upon sale or death. You may also be subject to the new Canadian Underused Housing Tax rules which, if not filed, carry extensive annual penalties |
Depending on the level of ownership, you may have file an information return is the US which, if not filed, carries extensive annual penalties. |
