Resolving Your U.S. Cross-Border Tax Concerns
GTA Accounting is a reliable and renowned accounting firm in downtown Toronto and beyond that has been helping Canadians and U.S. citizens with US tax accounting in downtown Toronto for more than a decade. We assist people and business owners with all their cross-border tax issues. If you are a Canadian temporarily residing in the U.S. or if you are a U.S. citizen living in Canada, we can help you with your taxation and taxation reporting. This could be related to employment income as well as forms of compensation, reporting of investment income which includes capital gains, property, rent, and more.
That’s not all. We address all cross-border tax issues between Canada and the U.S., and we deal with other tax issues that you might face in Canadian provinces. Our expert CPA is ready and willing to help you if you are:
- Canadian citizen residing in the U.S. temporarily or permanently
- U.S. citizen living in Canada
- Persons from a country other than the U.S. working or residing temporarily or permanently in Canada.
Suppose you fall in any of these categories. In that case, we are more than willing and more than capable of handling your tax preparations, tax planning, and tax consulting (opinions). We are also adept at representing you in front of the tax authorities.
Our CPA Does More Than US Tax Accounting in Downtown Toronto
It’s not necessary to call our accounting firm for significant issues only. We help you with whatever problem you have. Big or small, we are there for you. For example, you can only ask us to prepare a single tax return in the U.S. We are going to get right on it. We have a history of satisfied and repeat customers, and we would love to add you to our list. Apart from US tax accounting in downtown Toronto, we also provide payroll services, corporate tax services, personal tax services, and so much more.
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Discover how we can help you with your U.S. Taxes and maximize your returns.
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Meet Our CPA
Sohail Afzal, CPA is the founder of GTA Accounting, a Toronto based accounting firm with offices in Toronto, Mississauga and Oakville. The firm touts a high 5 star Google rating and has been selected by Clutch for service awards two years in a row.
Because of Sohail's business background, he is able to pair bookkeeping and tax services with management consulting providing an edge over other similar accounting firms. Offering affordable rates, GTA Accounting works with small business owners and large companies with over $40 million annual gross revenue.
Featured in the Toronto Star, Sohail shares more about his accounting firm and what sets them apart.
Unit 501 – 250 Consumers Road
North York M2J 4V6
Successfully Leverage Opportunities Across Borders
Tax laws in the US as well as in Canada are constantly evolving. Changes are occurring all the time. This makes it difficult for a business owner or any individual to stay on top of the game and make sure that they do not incur penalties and interests. There are numerous compliance issues like federal, state, and local taxes, transfer pricing, and more. You also have to keep an eye on the Canada-U.S. Income Tax treaty. Not everybody can handle that. At GTA Accounting, we make sure that you don’t have to handle any of these things. We provide you with an efficient and reliable service of handling all your US tax accounting while offering you peace of mind. Let us worry about your finances while you take care of your business as you should.
Client Success Stories
Minimize Your U.S. Taxes
Whether you are a business or an individual, our accounting firm in downtown Toronto makes sure that we minimize your tax burden as much as we can. We are well-versed in the regulations related to specific industries. We work for the benefit of our clients to make sure that they not only identify new tax benefits but also take full advantage of them. We have the experience, the skills, and the superb and up-to-date knowledge to assist you with any matter that you want. Our expert CPA is available for all your taxation needs as well as others.
Foreign Tax Credits
At GTA Accounting, we help you access foreign tax credits in Canada for taxes you have already paid in the U.S.
What are foreign tax credits?
If you are a Canadian resident living in the U.S. either temporarily or permanently, you have to pay taxes on the income you have earned there. This income could come from a business, rental income, employment, investment, or pension in the U.S. You have already paid your taxes in the U.S. where you originally made your income. As a Canadian citizen, you also have to pay taxes in Canada. But the CRA allows you to claim foreign tax credits so you won’t have to pay double taxes on the single income that you made. Canada has a tax treaty with the U.S., and it helps offset the taxes that you have already paid. These foreign tax credits apply in various areas of the treaty. This applies to self-employment income, income based on pension, and earned from U.S. annuities.
If you have been a resident of Canada at any time during the tax year, you can avail foreign tax credits. All you have to do is disclose where you earned your income, profits, losses, and gains. The best part is that you don’t have to do it yourself. GTA Accounting is here to do it all for you. We will help you with preparation, planning, and reporting your taxes.
Why Choose GTA Accounting?
Every year in Canada, legislators tweak and twist financial laws, leaving the average individual and business owner at a loss when faced with making financial decisions. We stay on top of new financial and tax laws on your behalf and offer custom made tax accounting and financial advice to help you and your business develop budgets and set financial goals. Still not convinced about what makes us a professional accounting firm? Read further below:
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If you're ready to find out how an Accounting firm in Downtown Toronto can help you with U.S. Tax filing, contact us for a Free Consultation.