Individual U.S. Taxes – At SDG Accountant, our U.S. tax specialists provide compliance services and professional advice on U.S. federal, state and local taxes for businesses and individuals including:
U.S. Tax Services
Individuals
U.S. Citizens and Green Card Holders Living in Canada
U.S. citizens and green card holders living in Canada are generally required to file U.S. income tax returns on an annual basis, reporting their worldwide income. Commonplace financial connections to Canada such as RRSPs, RESPs and Canadian mutual funds result in annual U.S. information disclosure, and can sometimes result in punitive taxation. Penalties for noncompliance can be significant. SDG Accountant can help clients (including those who have not complied with their U.S. Filing Requirements in the past) navigate these complex U.S. tax rules and structure their affairs to be tax efficient from both a U.S. and Canadian tax standpoint. (Individual U.S. Taxes)
Canadians Investing in U.S. Real Estate
Due in large part to low U.S. real estate prices, low interest rates, and a strong Canadian dollar, nowadays many Canadians are interested in exploring investing in U.S. real estate. SDG Accountant can help clients deal with the U.S. and Canadian tax issues that arise upon the purchase, rental and sale of U.S. real estate. Tax considerations can affect such decisions as the ownership method for real estate (direct personal ownership, trust, corporation, partnership, etc.), and how to obtain financing. Planning is also often needed to minimize and manage exposure to U.S. estate tax that can arise upon death.
Other U.S. Tax Issues for Canadian Individuals
Canadians who establish financial and residential ties to the U.S. often encounter U.S. tax filing requirements. SDG Accountant can help clients comply with these requirements, and plan to minimize U.S. taxes. Common examples of ties that result in U.S. tax implications include:
• Employment in the U.S.
• Investing in U.S. securities, partnerships, and private corporations
• Spending significant time in the U.S. (“snowbirds”)
• Studying at a U.S. university or college
• Gambling Winnings