We know cross-border taxes too.
Need help with U.S. returns? Our Tax Experts know the laws on both sides of the border. Here’s how we can help you file both your U.S. and Canadian taxes.
What’s included in our U.S. tax services?
Find out if you need to file a U.S. return.
Good news! You may not have to pay taxes in both countries – we’ll show you how.
Earned income exclusion.
Form 2555 is a special form excluding foreign earned income from taxation in the U.S.
Foreign tax credit or deductions.
Claim a foreign tax credit on your U.S. return for taxes you paid to Canada.
U.S. citizens and green card holders must file a 1040 form every year if they meet income threshold requirements. You may also be subject to additional U.S. tax reporting if you own or are a beneficiary of Canadian mutual funds, TFSAs, RESPs, RRSPs or RPPs.
Foreign Bank Account Reporting (FBAR).
If you are a U.S. citizen with a financial interest in foreign accounts exceeding $10,000, you must report it by e-filing the FinCEN114. Failure to report could result in a penalty of up to $10,000. The CRA and IRS communicate often on these matters, so talk to one of our Tax Experts today to protect your assets.
If you live outside the U.S., you have an automatic extension of two months to file your U.S. tax return, making June 15 your deadline. For your Canadian return, you still need to file by May 1.