US Income Tax

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Form 1120-F Filing requirements for Canadian Corporations active in the U.S.

Canadian corporations doing business in the U.S. are viewed by the Internal Revenue Service (IRS) as ‘Foreign Persons’. The U.S. taxes Foreign Persons on income effectively connected with a U.S. trade or business activity as well as certain U.S.-sourced income not effectively connected with a U.S. trade or business activity (commonly known as FDAP or Fixed, [...]

2016 Canadian and U.S. income tax planning

This is a brief summary of some key considerations and due dates for your 2016 personal income tax filings. Please feel free contact our office to schedule a consultation or ask any questions you may have. CANADIAN TAX CONSIDERATIONS • 2016 Individual income tax filing deadline is Monday, May 1, 2017 -  Canada Revenue Agency [...]

Form 1040NR – U.S. Non-resident alien individual income tax return

  Canadian owners of U.S. rental properties electing to choose the ‘net rental income’ method for reporting their U.S. property income, must file form 1040NR along with related schedules which includes Schedule E - Supplemental Income and Loss from rental properties, along with Form 4562 – Depreciation and Amortization. The filing deadline is [...]

Canadian individuals purchasing U.S. property

This article examines the individual income tax implications in the U.S. and Canada, for Canadians purchasing U.S. rental properties or personal use properties. For more information pertaining to Canadians selling U.S. rental properties, please refer to the accompanying article on our website. Disclaimer – This article is about the U.S. and Canadian tax consequences of [...]

Canadian Individuals Selling U.S. Property

This article examines the individual income tax implications in the U.S. and Canada for Canadians selling U.S. rental properties or personal use properties. For more information pertaining to Canadians purchasing U.S. rental properties, please refer to the accompanying article on our website. […]

Canadian CORPORATIONS doing business in the U.S.

Canadian CORPORATIONS doing business in the U.S. Canada and the United States of America share the longest unprotected border in the world. As neighbours and close friends, we have also established the largest trading relationship in the world. It is natural that Canadian companies and individuals want to do business in the U.S. […]

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