Immigration from the U.S. to Canada, or Canada to the U.S. is very common due to multiple reasons including personal, economic or political ones. There is a large number of U.S. citizens and Green Card
Important deadlines for 2023 Please note that these are the deadlines applicable to most taxpayers. Some of the information returns may not be included here. For up-to-date information, please always follow the deadlines communicated to
Question: Can a U.S. LLC claim exemption from Canadian corporate income tax under article VII of treaty if it has non-us members?
Passive Foreign Investment Companies (PFICs) In this post: What is a PFIC? Definition of PFIC Deep dive into PFIC definition Gross Income Test Asset Test Exceptions – What is not PFIC? Controlled Foreign Corporations (CFCs)
The U.S. tax system went through a major overhaul as a result of the Tax Cuts and Jobs Act (TCJA). Beginning in 2018, the U.S. taxes individuals on worldwide income whereas corporations on a Quasi-territorial
IRS form 5471, Information Return of U.S. Persons With Respect to Certain Foreign Corporations, is one of the most complex forms in the U.S. Expat tax return package. The form has evolved significantly post-TCJA to
How to calculate foreign accrual property income for a Canadian corporation.
Question: Do Canadian Corps using U.S. Amazon FBA services need to pay branch profit taxes and file 5472.
IRS Streamlined Foreign Offshore Procedures In this post: Streamline Foreign Offshore Procedures (SFOP) – Overview Eligibility for SFOP Requirements of SFOP – Checklist Who should not use SFOP! How can Maroof HS CPA Professional Corporation
Many of Canadian taxpayers maintain a second home, a vacation property, or hold a U.S. real property interest for investment purposes. In 2020 and 2021, there is an upward trend of dispositions of U.S. real
