GGFL’s team of experienced US and cross-border tax professionals helps individuals and businesses navigate through complex international tax matters. We’re here to help you minimize your tax liabilities and meet complex cross border tax obligations.
GGFL offers knowledgeable advice on a wide array of US and cross-border services to:
- US Citizens and US Green Card Holders
- Canadians or Americans working or moving permanently across the border
- Canadians Investing in US Real Estate / Living Part-time in the US (“Snowbirds”)
- Canadians or Americans with Exposure to US Gift or Estate Tax
- Businesses with US Operations
- Businesses with Cross-border Employees
- Taxpayers Applying for US Taxpayer Identification Numbers (ITIN/EIN)
For more information on our US & cross-border tax services,
please contact Monica Martinez.
Canadians or Americans Working or Moving Permanently Across the Border:With the world becoming ever more connected, individuals are finding themselves exploring new, exciting opportunities across the border or even worldwide! With each move comes new tax considerations. We can help. If you are moving to or from Canada on a permanent basis, GGFL can assist with:
- Canadian and US tax return filings in the year of move and in the future
- Analysis of residency status
- Deemed disposition/acquisition of assets in Canada
- Planning the timing of receiving income
- Restructuring assets, transferring investments and retirement plans to new country
- Applying favourable Tax Treaty positions and elections
Canadians Investing in US Real Estate / Living Part-time in the US (“Snowbirds”):Many Canadians invest in US real estate, either as vacation homes and/or rental properties. Even snowbirds who escape Canadian winters to spend part of the year in the warm weather of the US, can face US tax implications and filing requirements. How can we help?
Considering purchasing a US property?Let us help you determine the best way to hold US property before you buy.
Renting your US property?We can help prepare non-resident tax forms to avoid upfront withholding tax on gross rents, file elections and tax returns to report your US rental operations.
Selling your US property?Our team can help you prepare the required forms and returns to report the sale of your US property, and minimize the upfront tax withheld at the time of the sale and eventual US tax liability. We’ll also ensure foreign tax credits are properly claimed on Canadian returns for US taxes paid to prevent exposure to double taxation.
Spending part of the year in the US?We’ll help you determine the maximum amount of time you can spend each year in the US, and file the required forms so that you aren’t considered a US resident required to report worldwide income to the IRS.
Canadians or Americans with Exposure to US Gift and Estate Tax:US gift and estate tax can apply not only to US citizens and US residents, but also to Canadians who hold US assets. For example, a Canadian can face exposure to US estate tax by owning a Florida condo or even US shares within an RRSP. GGFL can assess if individuals have exposure to US gift or estate tax, create a plan to mitigate this exposure, and prepare required US gift or estate tax returns.
Businesses with US Operations:For many Canadian businesses, the US market represents a substantial opportunity, but even working with just a few American clients from a base in Canada can generate complex US tax obligations. Determining how to file for US federal tax purposes is the first step. Determining in which states to file and which state taxes apply can be a very daunting task, as all states have their own tax systems as if they were each a separate country. GGFL can assist Canadian companies as follows:
- Determine if your company has a “permanent establishment” under the Canada-US Tax Treaty (“the Treaty”) and is subject to US federal tax, or if it is exempt from federal tax under the Treaty
- Determine your company’s state tax obligations
- Prepare your annual US corporate federal and state tax returns
- Develop the best structure for conducting business in the US
- Advise on repatriating profits back to Canada
Businesses with Cross-border EmployeesMore and more, companies have employees crossing international borders as a normal part of doing business. GGFL can assist with:
- Determining the company’s cross-border tax and payroll obligations
- Advising employees of their cross-border tax obligations
- Preparing employees’ Canadian and US tax filings, and hypothetical and tax equalization calculations if applicable
- Assisting companies with tax equalization policies which encourage employees to accept cross-border travel and long-term foreign assignments