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U.S. Tax Tips

U.S. Citizenship Renunciation Services

If you, like many U.S. expats (U.S. citizens and Green card holders living outside the United States) are becoming more frustrated, confused, or overwhelmed with the massive burden that U.S. citizenship may entail when you are living outside the United States, you may have considered renouncing your U.S. citizenship.

U.S. Citizenship is a complex procedure. Our qualified advisors can help.
What is ITIN and How You Can Get It?

An Individual Taxpayer Identification Number or ITIN, is a tax processing number issued by the Internal Revenue Service (IRS) which is designed for foreign individuals (non US-persons) who are required to file a US federal tax return, or have other IRS filing requirements, but are not eligible for a Social Security Number (SSN).

Our U.S. Tax Advisors will help you apply for ITIN!
Canadians who own U.S. Real Property Should Plan for Incapacity and Probate.

Our qualified U.S. tax advisors will help you devise a comprehensive estate planning strategy that would decrease your tax exposure.

Our Advisors Can Help You Plan!
IRS Form 3520 A - Do you really have to file it?

IRS Form 3520 A is often filed by Canadian tax advisors with respect to Tax Free Savings Accounts (TFSAs) that are held by U.S. person. However, the tax treatment of TFSAs for U.S. federal income tax purpose is uncertain because there is there is no case law and no clear guidance by the IRS.

Our U.S. Tax Advisors will determine whether IRS Form 3520 A should be filed in your case?
Talk to U.S. Tax Advisors Prior to Making Major Estate Decisions!

Do you own U.S. real estate? Do you have a comprehensive estate planning strategy that would maximize your wealth?

Our Advisors Can Help You Plan!
Are you a Canadian planning on buying U.S. Vacation Home?

Owning U.S. real estate can result in significant benefits for Canadians and can open up a primary or secondary source of income. However, it is important to understand the complexities involved in purchasing and owning U.S. real estate for Canadian individuals and businesses.

Need Help Understanding Potential Tax Implications or Planning Opportunities?
IRS Form 5472 - Foreign Owned LLCs

5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business

Need Help With IRS Form 5472?
IRS Form 5471 - When Do I have to File?

Form 5471, Information Return of U.S. Persons With Respect To Certain Foreign Corporations.

Need Help With IRS Form 5471?
US Tax Reform - Estate Tax

To the disappointment of many the Tax Cuts and Jobs Act did not repeal the u.s. estate tax. What it did do is double the base exclusion amount for 2018. The basic solution amount will be eleven point two million dollars per person and twenty two point four million dollars per married couple. This is applicable for U.S. domiciliaries as well as Canadians with U.S. situs assets. The Canada U.S. income tax treaty provides for a prorated unified tax credit for Canadians. Canadians who have worldwide assets under the threshold amount will not be required to pay U.S. estate tax they will however be required to file U.S. estate tax return or U.S. gift tax return. This provision provides tax planning opportunities these need to be taken advantage of before the provision sunsets in 2025.

Take Advantage of this Planning Opportunity!
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