U.S. Taxation
Individuals and businesses are moving and investing across borders in record numbers. Besides everyday issues involved in such situations, a fairly complex set of tax rules must be considered. Our firm can help you understand and plan for this issues.
We are here to help you understand the rules and minimize taxes which result from cross-border activity. Among the U.S. and cross-border tax services we province are:
- Choice of entity for cross-border business expansion
- Tax planning and return preparation for corporations, partnerships and other ventures with cross-border interests
- Mergers and acquisitions tax strategies
- Transfer pricing
- Canadian departure tax planning
- Determination of tax residency status
- Tax planning and return preparation for Canadians with interests in the United States
- U.S. estate tax planning
- Social security, pension and retirement planning
U.S. Corporate Tax
We offer a wide variety of U.S. corporate income tax services including the following:
- preparation of U.S. corporate income tax returns
- advise on how to purchase a U.S. business (such as purchasing assets versus shares) and how to finance the purchase and how to structure the acquisition via your current U.S. and or Canadian holdings
- we can review the income tax consequences in Canada on how to repatriate (or transfer) the profits from the U.S. to Canada
- we provide advice on how to establish a new U.S. business including the form of the business and if it should be incorporated, review the limited liability implications of a corporation, consider its structure as a partnership, etc. We also advise on the significant U.S. tax issues to consider such as compensation strategies, accumulated earnings tax and personal holding company issues, how the company should be capitalized and financed and how the U.S. business will be owned
- we review the implications of state sales taxes and income tax (nexus) implications
- we assist with the tax registrations and filings for U.S. businesses with the Internal Revenue Service
- advise on corporate re-organizations and strategies for selling a U.S. business
U.S. Personal Income Taxes
Some of the U.S. personal income tax services we provide include the following:
- preparation of U.S. personal income tax returns for all years
- tax planning for individuals moving to the United States, including the coordination of the U.S. and Canadian income tax positions
- tax planning for Canadian's returning from the United States
- evaluation of U.S. state tax issues for Canadian residents holding U.S. investments including U.S. real estate and many other personal tax planning matters
The above is very brief overview of the services that we provide with respect to the preparation of U.S. Personal Income Tax Returns. We refer you to our other web page called U.S. Personal Income Tax Return Services for further details.
U.S. Citizens In Canada
Some of the U.S. tax services for U.S. citizens who reside in Canada that we offer include:
- preparation of personal income tax returns
- estate planning for U.S. citizens living in Canada, including the coordination of U.S. and Canadian tax planning
- assisting with establishing various U.S. trust structures for U.S. citizens moving to Canada to obtain a 5 year exemption from Canadian tax on certain types of income
U.S. Citizens residing in Canada have various U.S. reporting requirements that are outlined on our other web page called U.S. Personal Income Tax Return Services for further details.
U.S. Tax Filings And Various U.S. Compliance Issues
We offer the following U.S. tax filing services:
- preparation of non resident alien individual tax returns including Form 1040 NR and the U.S. rental income statements, capital gains from real property, salary and business income
- preparation of U.S. income tax returns for U.S. citizens living in Canada including Form 1040 and the individual state U.S. returns if required
- preparation of U.S. corporate income tax returns for U.S. corporations including Forms 1120 and 1120F together with the required disclosure schedules
- preparation of U.S. partnership returns including Form 1065 together with the partner statements Form 1041
- preparation of U.S. estate income tax returns including Form 706 for U.S. citizens and non resident aliens who hold U.S. property including Form 706NA
- preparation of payroll remittances and summary reporting including Forms W2 and W3 and the withholding and related forms
The preceding outlines some of the services that we provide. Additional details of our services are outlined on the other web page called U.S. Personal Income Tax Return Services.
Over the years, Joe Truscott has written many individual income tax and business articles which have been posted here for you to review. You can also review many additional articles that have appeared in his quarterly client bulletin called Business Matters.
A further in-depth discussion of the various income tax services provided by
Joe Truscott are outlined in his Tax Planning Brochure.
Call us today at 905-528-0234 to talk about how we can help.
