Edmonton Alberta U.S.A Tax Services

Accounting and tax preparation services are provided by Bomcas Accounting and Tax Services to clients in the United States and Canada.

Individual Income Taxation in the United States – Federal, State, and Municipal Taxes Accounting and Tax Services in Edmonton, Alberta are offered by Bomcas Accounting & Tax Services. Tax compliance services and expert advice on federal, state, and municipal taxes in the United States are provided by our team of tax specialists to businesses and people across the country.
People who are citizens of the United States and holders of green cards who live in Canada but do not have citizenship in their home country fall under the category of “non-citizens.”

Individuals who are citizens of the United States and who have green cards who live in Canada are usually required to declare their worldwide earnings when submitting annual income tax returns with the Internal Revenue Service of the United States (the Internal Revenue Service). For financial ties to Canada that occur on a regular basis, such as retirement savings plans (RRSPs), education savings plans (ESOPs), and Canadian mutual funds, annual reporting of financial information to the United States is required, and failure to report the information in certain circumstances may result in punitive taxes. The consequences of disobedience may be very expensive. Customers (including those who have not previously complied with their U.S. Filing Requirements) can benefit from the accounting and tax services provided by Bomcas Edmonton Alberta Accounting and Tax Services in navigating the complex U.S. tax rules and structuring their affairs to be tax efficient from both an American and a Canadian tax perspective. (In the United States, taxes are collected based on the number of people living in the country.

Canadians who engage in real estate in the United States are referred to as “Canadians who invest in the United States” in the nation where they are doing business.

As a result of low real estate costs in the United States, low interest rates, and the strength of the Canadian dollar, many Canadians have expressed an interest in making an investment in United States real estate, which has piqued the interest of many others who are considering making such an investment in the United States. It is possible for customers who purchase, rent, or sell real estate in the United States to encounter tax issues, which may impact them both in the United States and in Canada. According to the business, customers of Bomcas Edmonton Alberta Accounting and Tax Services may get help in addressing tax issues in both the United States and Canada. It is possible that consideration of tax consequences will have an effect on decisions about real estate ownership (including direct personal ownership, trusts, corporate entities, and partnerships), financing alternatives, and the method of acquiring financing. Aside from this, estate planning is often needed in order to minimize and manage the possible estate tax obligation that may arise in the case of a death in the United States.

Additionally, for Canadians who reside in the United States, there may be additional tax concerns to take into account.
The Internal Revenue Service (IRS) often comes into contact with Canadians who have financial and residency ties to the United States and who are subject to tax reporting requirements in the United States. Customers may guarantee that they are in compliance with relevant laws by using the accounting and tax services provided by Bomcas Edmonton Alberta Accounting and Tax Services. Customers can also develop methods for minimizing their exposure to taxes in the United States. Listed below are some examples of relationships that may have tax ramifications in the United States of America:

In addition to investing in stocks, partnerships, and privately held firms in the United States, spending a significant amount of time in the United States of America includes: traveling to and from the United States of America; attending business conferences; and attending trade shows (also known as snowbirds)

Involvement in educational activities at a university or other educational institution in the United States Winnings from gambling are referred to as gambling winnings or gambling winnings.

FOREIGN EXPATRIATES ARE SUBJECT TO A CITATION TAX IN THEIR HOME COUNTRIES.

In addition to having a lot of knowledge and experience in providing cross-border job transfer tax compliance and advice services to customers in both the United States and Canada, our Expatriate Tax specialists can assist you with any of your tax compliance and advisory needs in either nation. We can also assist companies with mobile employees in negotiating the tax laws of the United States, as well as with a number of expatriate issues, including but not limited to the following:

It will be decided via a consultation process what the best salary, relocation, and tax equalization rules will be, as well as the implications of stock options and awards. The optimum strategy will be determined through a consultation process
Payroll consulting services are provided upon request….
The preparation of income tax returns for employees in the United States and Canada is the responsibility of a certified public accountant.
We also have access to a worldwide network of expatriate tax specialists via our affiliation with Bomcas Edmnton Alberta Accounting and Tax Services, which can assist us with tax planning and compliance problems relating to other countries and jurisdictions.

M&A transactions are common in the world of business, and often include the purchase of another company.
There are many ways in which those who are selling or purchasing a corporate business in the United States may profit from the services provided by Bomcas Edmonton Alberta Accounting and Tax Services, including the following:

If the acquisition should be structured as a taxable or nontaxable transaction, you should determine this before continuing with the transaction. This will be determined by your individual circumstances.
After it has been proven that the transaction is not taxable under the law, it is up to the parties to choose what kind of tax-free transaction they will use to accomplish their specific goals.
It is necessary to determine whether or not a transaction should be structured as a stock purchase or an asset acquisition as the first step in evaluating whether or not a transaction should be taxed before deciding on the structure.
In order to optimize your earnings, make full advantage of any net operating losses and other tax benefits connected with the business that is being acquired.
Create an inventory of any additional implications that should be addressed throughout the negotiation process, such as when the purchaser and/or seller are both members of a connected organization that is required to file a joint tax return, and keep this inventory on hand at all times during the negotiations. a.
Furthermore, our experienced experts may assist sellers and buyers of businesses that are run as sole proprietorships or partnership organizations by guiding them through the transaction process. This is an additional service. We can also help you in detecting any possible tax problems that may emerge over the course of the transaction as part of the due diligence and negotiation process.

Accounting and tax services for United States of America Income Taxes

We have a team of specialists that are well-versed in helping clients through the labyrinth of complex laws that exist in the United States when it comes to tax and accounting advice:

A review of the Deferred Income Tax Reconciliation and the Valuation Allowance Provisions in the Consolidated Financial Statements was conducted.
Money generated in a foreign nation and transferred back to the place of origin Uncertainty in tax positions (FIN 48).
We may provide guidance on assessing tax issues in the United States in order to assist management in doing the required analysis in order to account for uncertain tax situations. The following is a brief overview of the kind of projects that we are capable of completing:

Having inventory tax responsibilities in addition to other types of inventory tax employment is an option that companies may consider.
An Investigation of the Operations of Permanent Establishments
In order to properly examine Subpart F, it is necessary to understand the notion of loss limitation. Analyzing the price of products and services in the marketplace is the subject of an Analysis Transfer Price Study, which is a kind of research study (provided by our transfer pricing group).