U.S. Tax Services in Canada - Income Tax Preparation Services

U.S. Tax Accountants in Canada – US Tax Services

Residents of the United States who are not permanent residents or citizens must file taxes annually. Even if you do not reside in the United States, you must file taxes there. According to a recent survey, the vast majority of US citizens living in Canada have questions about how to file their US tax returns while in the country.

If you are required to file US tax returns, the first thing you should determine is whether you are required to file at all. To file tax returns, you must either live in the United States or have obtained a green card from the United States if you are a US citizen or permanent resident. Even if you moved to Canada recently or have lived there your entire life, as an American citizen residing in the country, you are required to file tax returns in the United States. If you live in Canada and do not qualify for an exemption, you must file Canadian tax returns in addition to your US tax returns.

It is recommended that Canadians who file a US tax return stay current on cross-border tax changes in the United States, as tax laws are constantly changing and have an effect on your country of residence’s tax filing requirements.

While we recognise that life can be hectic at times, we also recognise that filing federal income taxes in the United States can be a difficult process. We at Bomcas Canada Accounting and Tax Services are aware of your predicament. Additionally, we understand that you may be unfamiliar with all of the requirements for filing US tax returns, which is understandable given the process’s complexity. As a result, we are able to provide clients with reasonably priced international tax accounting services.

We provide superior tax solutions to assist you in meeting your tax obligations on a timely basis. You may contact us at any time if you have any tax-related questions. Whatever your tax situation, you can always count on us to provide you with high-quality tax preparation services, as we provide a comprehensive range of services to our clients. We recognise that tax preparation and filing in the United States can be a time-consuming and difficult process. Whether you require assistance with the tax filing process or simply have questions, we are here to assist you.

USA Tax Accountant

Due to the complexity and constant change of the United States’ tax system, Canadian businesses and individuals face numerous compliance challenges in order to remain compliant. There are several types of taxes that can be applied to businesses. These include state and local taxes, expatriate taxes, transfer pricing, and legislation such as the Canada-United States Income Tax Treaty, among others.

The US tax practise of Bomcas Canada assists businesses and individuals throughout Canada in reducing their US tax liability. Because we understand the impact of regulations on specific industries, we can collaborate with clients to identify new tax benefits. Through a single point of contact, our practise brings together the knowledge and experience of tax professionals in order to provide a more personalised service to our clients.

U.S. Tax for U.S. Citizens Living in Canada

Although citizens of the United States may reside in another country, the United States is one of the few countries that requires them to report their worldwide income.

We, at Bomcas Canada US Tax Accountants, assist Canadian residents who are also citizens of the United States in the preparation and filing of their annual US tax returns. Whilst all worldwide income must be reported on the United States’ tax return, depending on your personal tax situation, there are earned income exclusions and foreign tax credits that can be claimed to help reduce or eliminate the need to report income both on the United States and on the Canadian tax return.

In spite of the fact that many US citizens living abroad have never filed a US tax return because they were unaware of the requirement, failing to file your US income tax returns may result in the denial of your passport renewal application as well as additional IRS penalties. Americans who have fallen behind on their US filing obligations while living abroad can make up for lost time by filing their most recent three years’ worth of US tax returns, as well as their most recent six years’ worth of Foreign Bank and Financial Accounts Report (FBARs). Bomcas Canada can assist you with this catch-up process in order to avoid unwarranted fines and denial of entry into the United States. Contact us for more information.

In addition to filing annual US tax returns and Foreign Bank and Financial Accounts Reports, if you own registered and non-registered investments, TFSA and RESP investments, or if you own a controlling interest in a Canadian corporation, you have additional tax compliance obligations.

U.S. Tax Services in Canada – Income Tax Preparation Services

U.S. Tax Accountants in Canada – US Tax Services

USA Tax Accountant

U.S. Tax for U.S. Citizens Living in Canada

Our Tax Responsibilities

US Tax Services