Cross border Tax

US-Canadian Cross-Border Tax

Are you an American or Canadian crossing the border to live, work, and or invest? Let us plan for you.

Whether you are living, working, or investing on either side of the border, we can help you better understand your tax obligations and devise a plan that works for you.

Our Service

If you are an American moving to Canada or if you are a Canadian moving to the United States, it’s important to plan ahead so that you can minimize taxes. Our cross-border tax services is catered towards both individuals and corporations. We develop specific tax planning that minimizes your overall tax obligations through eliminating double taxation while ensuring full compliance with the IRS and CRA. For corporations that are looking to move and conduct business across the border, we can devise a cross-border corporate structure that will reduce overall tax liability.

Key Elements of our Cross-Border Tax Services

  • Smart tax planning to avoid double taxation in Canada and the United States
  • Full compliance with IRS and CRA filing requirements
  • Advice on how to minimize Canadian and American personal and corporate income taxes
  • Development of a cross-border corporate structure to avoid a high tax bill

 

 

Client Testimonial:

I had a great experience with Madan Chartered Accountant Firm. I required a US Tax number their knowledge was invaluable to me. I received my tax number in short order at a very reasonable cost. Thank you Brandon for all of your help - Leslie Whitton, President of D-Fence Products Inc.

Need more information? Call us at (905) 268-0150

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Comments 11

  1. I work in the US and Canada as well. On my 1099 slip it shows the income taxes, social security and the medicare taxes paid.

    What amount should I report on the T1 return to claim foreign tax credit?

  2. Hi Enrico,

    Hi, you should report all the income taxes, social security and the medicare taxes paid as shown on the 1099 slip. Please be sure to convert the amounts in CDN using the average conversion rate for that year.

    Thank you.

  3. Hi, I have an US LLP which owns an LLC which further owns a rental real estate. The value of the real estate is more than $100,000. Should I report this on the T1135 form?

  4. Hi Maurice,

    If the cost of the shares of the LLP is less than $100,000, you wouldn’t have to file the T1135 form.

  5. If I move to the USA and become a non resident in Canada. Will I be able to vote and apply for benefits such as CCTB and GST Credit.

  6. Hi Martin,

    The citizenship status wont be affected with your non residency for tax purposes. You would still be able to vote however, the benefits payments such as the CCTB and GST credits wont be available to you as you for them you have to be a resident of Canada.

  7. Hi
    What would be my tax implications if I earn USD$ 90000/ year for a company based in New York but I work from home here in Ontario. If the company deducts US taxes will I receive a credit when I file my taxes and what amounts will I be liable for if the company does not deduct any US taxes.

    Thanking you for your help.

  8. Hi Maddy,

    If you receive a W2 and are an employee of an American company, you will have to report and pay tax on your US earnings in both the US and Canada.

    You will have to file a 1040 NR (US return) and a Canadian Tax Return (T1). To avoid double taxation, you will receive a foreign tax credit on your Canadian tax return for American taxes paid.

    However, if you operate as a self employed person from Canada, then you do not have to file a US return. You still have to file a Canadian tax return and pay Canadian income taxes on your US self employment income.

    Thanks,

  9. Hello Allan,
    I recently went to Florida for my sister’s birthday and we went to the casino. I ended up getting a fair
    amount of winnings. Are there any implications when I come back home to Ontario? IS there anything I
    need to know before coming home?
    Thanks,
    Gerri

  10. Hi Moe,

    If you are a Canadian resident, then you will be double taxed. You will first pay US personal taxes on your share of the S-corporation’s taxable profit. You will then pay Canadian personal taxes on any distributions (i.e. dividends) paid to you by the S-corporation.

    The CRA does not recognize S-corporation’s as flow-through entities, but instead classifies them as foreign corporations. You will not receive a foreign tax credit on your Canadian tax return for the American taxes paid.

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