AP Tax Group
Our goal is to provide a value added service to our clients, by saving tax whenever possible. In designing tax planning arrangements, domestically and/or internationally, we strive to create structures that are tax efficient while meeting the client's individual and business objectives. Our team is made up of highly experienced accounting professionals and staff, specializing in Canadian and U.S. tax planning and preparation. They pride themselves and are committed to providing value to every client, large or small.
If I own a business, can I pay my taxes quarterly? – US-Canada Tax Consultant. In general, it is necessary to pay your taxes quarterly to the IRS if you are self-employed or you receive your income in the form of gains from asset sales, interests, prizes, dividends, rent, etc.
When crossing borders between US and Canada, it’s best to request assistance from a cross border tax specialist if you are an independent contractor for their cross border tax services to understand the necessary process of paying quarterly taxes, thus avoiding penalties. Citizens who may owe less than a thousand dollars in taxes upon deducting the federal income tax may be exempted from the quarterly payments. However, if your federal tax may include 90% of tax you owe within the year, it’s not necessary to make payments on a quarterly basis.
To small businesses, it is indispensable to file a return annually. If you run a business with employees, paychecks shall be issued with payroll tax withholdings that should be filed a month after the end of each quarter. Like this: Like Loading... How does investing affect the way you do taxes? – US-Canada Tax Consultant. Investing may turn into a gamble and can be intimidating when you think about the tax rules at hand.
However, you will get to earn a lot if you succeed on selling your stock investments at a good price if you know the ways to reduce the tax rates the best way possible, with the help of cross border tax specialists if you plan on investing between US and Canada. So how exactly is an investment income taxed? To simply put, it’s the same manner as other earned income. Difference between the tax system in US and Canada ~ AP Tax Group Blog. The US and Canada may both have Federalism outlined as their constitutional structure.
However, it obviously doesn’t mean they have the exact same tax system. For those businesses crossing the borders of US and Canada, it’s a must to be familiar with the tax system, probably with the help of a Cross Border Tax Specialist for both countries to avoid getting taxed higher than expected, or worse, getting double taxed. For several years now, the US has rejected the value added tax (VAT) and has been imposing on sales tax where the percentage may vary on most states, thus an income tax on the national level. Businesses aren’t taxed on income but are taxed based on profit. This means that business expenses can’t be taxed at all. On the other hand, Canada follows the Goods and Services Tax (GST) or to other provinces, the Harmonized Sales Tax (HST), where these provinces combine their GST to their provincial sales taxes. Determining The US and Canadian Tax Law – US-Canada Tax Consultant.
To eliminate or to reduce double taxation, the United States has entered into tax treaties with many countries.
One of which is Canada. Due to the proximity of this neighboring country, the US-Canada Tax Treaty was signed in 1980 and has since been amended by five protocols. To provide relief from taxation in both the United States and Canada for income earned by Canadians is one of the aims of the US-Canada Treaty. To expound, US citizens and Canadian residents are taxed on their world income. If not for the treaty, Canadians would pay the US tax on their US income to the Internal Revenue (IRS) and pay again to the Canada Revenue Agency (CRA). Penalties On Overdue Tax Returns – US-Canada Tax Consultant. A cross border tax specialist can help you assess penalties on overdue tax returns in regard to cross-border tax laws.
From a cross border tax specialist, Canadian residents who gain income from the United States can be informed of the rules for filing taxes and how to lessen their US withholding taxes. With the signing of the US-Canada Treaty, residents from US and Canada who work in the countries mentioned are exempted from double taxation. The US-Canada Treaty is beneficial to Canadians with income earned in the United States because it prevents amounts from being withheld for taxes. How To Avoid Double Taxation – US-Canada Tax Consultant. Despite the US-Canada Treaty Convention, where citizens from each country are protected from double taxation when working at another country, there are still scenarios where you need to know how to avoid this “double taxation”.
Finding a competent and efficient cross border tax specialist is essential in determining this situation. The US Internal Revenue Service (IRS) has a complicated way of determining how long a Canadian stay in the US without paying US taxes. A cross border tax services can do a calculation using the IRS formula called the “substantial presence test”. The “substantial presence test,” determines whether you have been in the US long enough to be considered a US resident for tax purposes. They calculate the sum as follows: Each day in the US in the current calendar year counts as one dayEach day in the US prior year counts as one-third of a dayEach day in the US in the year before that counts as one-sixth of a day. Important Points to rapidly resell your house with cross border tax services – US-Canada Tax Consultant.
The thought of retailing your home only can provide you inconveniences with the newspaper works and conditions, particularly if you will sell a residence what your location is considered an ‘alien citizen’.
If you’re a Canadian resident and you will be selling your property situated in the United States, you may want some advice about an accountant for some cross border tax services to obtain through with all the current dealings you will face after selling your home. If your property is in U.S, then which means that you have entitlement to a non-resident withholding duty of 10% of the product sales price.
So you may want to consider requesting a good accountant to discover the best options in offering your house. First off, you will need strategies how you can be able to sell with a right time period you have decided. You might consider your online marketing strategy to attract a lot of audience that’ll be enthusiastic about your home. 5 Significant Reasons why a Business Accountant is Essential for your Cross Border Tax Services – US-Canada Tax Consultant. From changing tax laws to complicated cross border tax services planning frequently, preparation, and filing, there are no two ways about any of it – whether you are a tiny start-up just moving away from the bottom or a comparatively well-established business, you definitely desire a dedicated business accountant.
Below are a few of why you desire a business accountant (that exceed being truly a cross border tax specialist): Improve your credit history. Paying your bills promptly helps transform your life credit rating. Developing a dedicated business accountant who’ll keep an eye on your payment deadlines to be sure to be together with things is completely important.Help you manage finances. Important Points to Become Tax Preparation Experts in US-Canada – US-Canada Tax Consultant.
Canada is the major trading partner of America because of the location.
They have a very close economic and cultural ties. Many residents of a country proceed to the other country to get often, to review, to work, to conduct business or to pledge retirement. Because of the very unique tax systems of both countries, both of them signed a tax treaty, known as also, Article XXIV of the Canada – U.S. TAX Conventions in 1980. This treaty places out the guidelines for foreign tax credits which can be purchased in situations where each country claims the right to tax the same income. How a Cross Border Tax Specialist can deal with your Cross Border Tax Services ~ AP Tax Group Blog. Let's admit it, nobody enjoys filing taxes.
From the stressful process that, if given a decision, most businesses and people would like to delegate it to skilled person who have more experience using its intricacies - an expert or a specialist, as they say - which is particularly true as it pertains to cross border tax services between the US and Canada. Listed below are four ways what sort of Cross Border Tax Specialist will let you with Cross Border Tax Services: Provide you with essential expertise.
Cross Border Tax is complex and it could be very daunting to a person who is not really acquainted with the myriad laws applicable for all of us and Canadian individuals, corporations, partnerships, estates, and other entities. Become Recognized Experts in US-CANADA Tax Preparation ~ AP Tax Group Blog. Canada is the largest trading partner of the United States due to proximity. They have a very close economic and cultural ties. Many residents of one country often move to the other country to invest, to study, to work, to conduct business or even to pledge retirement. Due to the very unique tax systems of both Canada and United States, these two countries signed a tax treaty, also known as, Article XXIV of the Canada – U.S. All About Taxes ~ AP Tax Group Blog. The United States and Canada have a close monetary and cultural ties due to proximity. It isn't surprising that citizens from both countries proceed to each other's country to get, study, conduct business, work or even to retire.
Both national countries, the U.S. and Canada, have very unique system in taxation. Thus, they decided on the US-Canada Duty Convention authorized in 1980 or even more commonly called as the Taxes Treaty. The Duty Treaty addresses the foreign taxes credits which can be purchased in situations where each country claims the right to taxes the same income.
How to Find the right Cross Border Tax Specialist – US-Canada Tax Consultant. Taxation can be one of the very stressful and complicated part of moving to another country. Fortunately, for Circumstance. S. and Canada residents, there is the Canada-United States Tax Convention agreed upon in 1980. The taxes treaty between the two neighboring countries is to prevent double taxation of their citizens who live and work to the country next-door. For example, Canadian residents that have income from the United Says take advantage of this tax treaty. They should know the guidelines for filing taxes and how to lessen their withholding taxes in the U. The duty treaty also aims to provide relief from taxation in both U. Complications concerning US and Canadian Tax Laws – US-Canada Tax Consultant.
The Canada and United States each has very distinctive systems of taxation. The rules on cross-border taxation between the two nations are covered in Article XXIV of the US – Canada Income Tax Convention, 1980 (Treaty). Both countries sign the Tax Treaty. This treaty ensure residents of the two countries not taxed on the same income in the same year. 4 Things a Cross Border Tax Specialist can assists you on your Tax Services – US-Canada Tax Consultant. Filing taxes requires patience and commitment due to itschallenging process.Most businesses and people working abroad would like to appoint the task to someone who’s expert or a specialist in filing cross border taxes between US and Canada. Listed below are the few ways on how a Cross Border tax Specialist can help you with your Cross Border Taxes: Provide you with greatly required ability.
Cross Border Tax is complicated and it can be exceptionally difficult to somebody who is not familiar with the laws involving US and Canadian people, organizations, estates or corporations. Things You need to Know about Taxes – US-Canada Tax Consultant. The United States and Canada have a close economic and cultural ties due to proximity. It’s not surprising that citizens from both countries move to each other’s country to invest, study, conduct business, work or to retire. Both countries, the U.S. and Canada, have very unique system in taxation.
Thus, they agreed on the US-Canada Tax Convention signed in 1980 or more commonly called as the Tax Treaty. What can We Expect From CROSS BORDER TAX SPECIALIST ~ AP Tax Group Blog. Reason why a Business Accountant is so Important – US-Canada Tax Consultant. Moving overseas, taxation is a burden that most people find overwhelming. You need to have the knowledge and skills to understand the cross border tax services if coming from Canada or U.S. Canada and U.S. due to proximity have seen a quite a number of their residents moving from one country to the other. Finding The Right Cross Border Tax Specialist ~ AP Tax Group Blog. Taxation can be one of the most stressful and complicated part of moving to another country. Fortunately, for U.S. and Canada citizens, there is the Canada-United States Tax Convention signed in 1980. The tax treaty between the two neighboring countries is to prevent double taxation of their citizens who live and work to the country next-door.
For example, Canadian residents who have income from the United States benefit from this tax treaty. They need to know the rules for filing taxes and how to lessen their withholding taxes in the U.S. The tax treaty also aims to provide relief from taxation in both the U.S. and Canadian citizens.Canadian and U.S. residents are taxed on their world income. Cross Border Tax Services and More: 5 Reasons Why You Need a Business Accountant ~ AP Tax Group Blog. From frequently changing tax laws to complicated cross border tax services planning, preparation, and filing, there are no two ways about it – whether you are a small start-up just getting off the ground or a relatively well-established business, you definitely need a dedicated business accountant. 4 ways a Cross Border Tax Specialist can help you with Cross Border Tax Services ~ AP Tax Group Blog. Let’s admit it, nobody enjoys filing taxes.
Complications of US and Canadian Tax Laws ~ AP Tax Group Blog. The United States and Canada each has very distinctive systems of taxation. What a Cross Border Tax Team Comprises of? ~ AP Tax Group Blog. There are instances where citizens buy, invest, work or move frequently across borders and have to pay taxes and make tax declarations in two or more countries. This is often the case for workers posted abroad, retired persons abroad or for people living in one country and working in another (cross-border). Importance of Paid Time Off and Benefits ~ AP Tax Group Blog. Are You looking at changing careers altother? The suggestions in this article will help you to develp a plan. There are several factors to consider, no matter what your situation. So, get prepared to learn some tips and tricks to help you with your employment situation. Do not be shy about your financial needs. A Few Points to Ponder When Purchasing Real Estate Says AP Tax Group ~ AP Tax Group Blog.
It is becoming a common thing to purchase a real estate at some point in our lifetime that some are able to purchase more than once. Although buying a real estate is a common thing, only a number are educated buyers. The AP Tax Group has experience handling accounts for real estate many times that we learn the system of purchase. Now, we would like to share our experience. We, of course have to start with the obvious “location location location” speech. For the most obvious reasons, location is a very important thing to ponder when purchasing a real estate because every lot has its unique variety to offer. It’s a common thinking that you make money on real estate upon selling but a true and wise investor will tell you that you make money when you purchase. For some, finding a diamond in the rough may be their ideal plan but really, you would want to do the contrary.
Your Guide to Filing US Taxes in Canada ~ AP Tax Group Blog. A-business-owners-guide-to-financial. Harmonization of U.S. Taxes in Canada ~ AP Tax Group Blog. Your Creative Solutions on Filing US Taxes from Canada ~ AP Tax Group Blog. A Guide through Flourishing Your Personal Finance Endeavors ~ AP Tax Group Blog. CRA: How to file income tax return online ~ AP Tax Group Blog. Your Guide to Filing US Taxes in Canada – US-Canada Tax Consultant. Concepts and Principles of Cross Border Tax Services ~ AP Tax Group Blog. Understanding the Cross Border Tax Canada-US ~ AP Tax Group Blog. Qualities You Need to be A Cross Border Tax Specialist ~ AP Tax Group Blog. How to Identify Your Tax Filing Status. Tips to Selling Your Home Sweat-Free With Some Cross Border Tax Services ~ AP Tax Group Blog.
Why You Need To Hire A Cross Border Tax Specialist - AP Tax Group. Procure A Land With Your Canada US Tax Accountant. What Your Ideal Tax Accountant Should Be.