Best US Personal Income Tax Services for Canadian Citizens
Are you a Canadian having assets in the United States? While residing in Canada, navigating US personal tax can be confusing. Online Accountant is here to make the process simple and seamless for you.
Why Choose Online Accountant’s US Personal Income Tax Services?
It is easy to overpay or face penalties if you do not understand US income tax laws for properties owned by Canadians. Having knowledge of rules and regulations concerning US personal income tax goes a long way in ensuring that you pay only what you need to. Online Accountant will guide you through the way.
Professional US Personal Income Tax Services
Online Accountant takes pride in bringing to your service the most seasoned Certified Public Accountants, Tax Experts and CFOs with a high level of qualification in dealing with complex tax issues on the go. Here are some of our core services:
Tax Preparation and Filing
Cognizant of US tax season, regulatory requirements and filing processes, we take the stress out of US personal income tax filing and help you gather more wealth.
Tax Planning
Tax planning is as important as any other financial matter, or perhaps more. Our seasoned experts and advisors provide concrete advice for maximum saving and optimization.
Cross Border Tax Consultation
We provide reliable advice on tax savings, management, retention and acquisition of cross-border assets.
IRS Representation
You do not need to do the fearsome job of representing yourself before the Internal Revenue Service (IRS) officials. In the event of an audit or a dispute, though with us it is unlikely, we will represent you and ensure your interests are protected.
FATCA and FBAR Compliance
There are some tax regulations that may apply to you, but you may be unaware of them. Two of those are the Foreign Account Tax Compliance Act (FATCA) and Report of Foreign Bank and Financial Accounts ((FBAR)). We will keep you compliant with all such obligations so that you will not have to worry.
Our Services for Individuals with US Rental Income
Having a rental property in the US can be a promising investment, but the complex tax obligations can take a toll on you. However, for our expert staff, it is a daily matter. We will help you not only resolve the intricacies of rental income regulations but also claim all the deductions while complying with IRS and CRA guidelines.
US Real Estate and Capital Gains Tax
There can be significant tax consequences of selling US real estate property. It is estimated that the disposition of US real estate property can result in up to 30% of its value being lost to taxes. Our experts at Online Accountant have an accurate understanding of such tax implications and can minimize your tax burden while keeping you in conformity with the US-Canada tax regulations.
Online Accountant's Services for Canadian Snowbirds
If you spend your winters in the United States, there can be immense cross-border tax implications. Online Accountant optimizes your tax position within the ambit of law so that you can thrive.
Well-Established Knowledge Base
Our Accountants, CFOs and tax planners have decades of loyal service to our clients and have a cordial bond with most of our clients. This is why our clients consider us a go-to choice in financial matters.
Transparency of Fee
We have a zero-tolerance policy against surprise invoicing. We will give you an upfront quote about our fee on your US taxes. We guarantee a predictable and transparent fee.
Modern Tools
Utilizing cloud-based tools, Online Accountant is at par with the evolving markets and is a trend setter. Online Accountant stands out in the market where many bookkeepers are still using outdated means. We use IRS-certified US tax preparation tools.
Competitive Rates
Leveraging a diverse structural and organizational model, Online Accountant is able to far out-pace its competitors when it comes to affordability and pricing.
An Award-Winning Accountancy Company
Online Accountant is a trusted company also because it is a QuickBooks Online Elite Partner and a proud Xero Gold Partner.
FAQs
Tax liability depends on your residency status between Canada and the tax treaty between the United States and Canada.
You would need to file US personal income tax return, and then need to obtain IRS transcript of your taxes to be eligible for the foreign tax credit on your Canadian tax.
Yes, the United States has a world-wide taxation system, and you can file your taxes while living abroad.
The United States and Canada have a tax treaty in place which determines your residency for tax purposes for the country in which you would have to pay tax on your income.
Indeed. The CRA has robust measures in place to prevent tax evasion. Firstly, doing such a thing intentionally can cause penalties, mounting interest and even imprisonment. Secondly the CRA has information sharing agreements with other countries’ tax authorities and has also other compliance mechanisms to ensure that no income goes unreported.
We manage IRS filings (e.g., Form 1040NR) and Canada Revenue Agency (CRA) filing requirements such as Form T1, ensuring adherence to both jurisdictions and prioritizing dual compliance.
Canadians with US-sourced income, such as rental properties or employment in the US, may need to file.
The integration of US tax data with Canadian bookkeeping systems including QuickBooks becomes possible through our streamlined filing process. The solution enables Canadians to handle their US tax responsibilities with complete ease.
