Frequently Asked Questions

Who would benefit from your services?

Anyone with a tax situation that involves both US and Canadian source income could benefit from our services. Canadian residents working in the US, owning property in the US or residents who have other US source income, would benefit from our expertise in cross border taxes. We use our knowledge of US tax law and the Canada/US tax treaty to minimize both your Canadian and US tax liability.

US citizens have filing requirements and other compliance issues, regardless of where they live. In most cases, if done properly you will not owe any money to the IRS. However, there can be significant penalties for failure to file certain forms on a timely basis. Our firm can ensure that US citizens meet their US filing and reporting requirements.

How does your firm compare with other tax preparation services and CPA firms?

We are CPA's in both Canada and the US. Our firm specializes in cross border issues. We do our best to understand your tax situation. We ask the right questions so that we have all the necessary information to minimize both your US and Canadian taxes.

How do your prices compare to other tax preparation services and CPA firms?

We provide expertise in an area of tax that is specialized and can be complex. You would think that the cost of this type of expertise would be expensive. However, you will find that our prices are very competitive and, in the vast majority of cases, they are lower than other firms. Let us provide you with a free, no obligation quote.

I am concerned about sending my documents to you over the internet. Should I be?

Once you become a client, we set up a portal account where you can upload your documents securely.

I am a Canadian resident who commutes daily to US for work. What are my filing requirements?

Along with your Canadian tax return, you are required to file a US Federal, State and City return depending on where you work. There are certain filing options using the Canada/US tax treaty which may reduce your taxes significantly.

I have a lot of questions regarding my tax situation. Are phone consultations available?

Yes. Please fill out the Information Request Form and we will schedule a phone consultation at an agreeable time. We reserve the right to charge a consultation fee depending on the nature of the inquiry.

I don’t think my Canadian and US tax returns for prior years were prepared correctly. Can you review them for me to make sure they are correct?

Yes. Once you become a client, as part of our process, we review prior year returns for potential compliance issues and tax savings. There is no charge for this service.

I am starting a job in the US and will be moving there in the near future. Is there anything I can do to minimize my taxes and avoid any compliance issues?

There are a number of things that can be done before you leave Canada to avoid problems down the road. This would include looking at your investments, retirement plans, etc. Contact us before you move so that you can take the necessary steps to avoid problems and compliance issues.

I am a US citizen but I have lived in Canada all my life. I did not realize that I had to file tax returns in the US until now. How do I go about getting caught up on my US filings?

You will have to file 3 years of tax returns and 6 years of FinCEN 114 (FBAR). In most cases no tax is payable. If taxes are owed or there are potential penalties, you may qualify for the Streamlined Filing Procedure program. Contact us to discuss your situation.

What are the potential penalties for non-filing?

Besides late filing and late payment penalties, certain forms carry a $10,000 penalty for late or non-filing. In some cases, these penalties may be abated. Contact us to discuss your situation.