Downtown Toronto US Tax Return Preparation
Downtown Toronto US Tax Return Preparation (US Tax Preparation in Canada)
2024 US Tax Return Preparation starting at $799 CDN, T: 647-951-4852 Ext.2 for quote
Book Now Get your US taxes done today by a professional US Tax Preparer in Canada.
What hours do we operate?
- Monday to Friday In-person 11 am to 4 pm
- Remote and Online 9 am to 11 am and 4 pm to 9 pm 7 days a week (Tel and Email)
- Call to book an appointment T:(647) 951-4852 Ext.2
- Email: info@downtowntorontotaxreturnpreparation.com
It’s very easy to get your US taxes out of the way for 2023. We are reachable via phone, email, and in-person. Just use one of our methods of sending your tax documents to one of our tax advisors. Let us take care of the rest. You deserve an accurate and timely US tax filing by a professional specialized US Tax Accountant.
Who may need to file US Taxes?
- US Citizen Living or Working in Canada
- Canadian Citizen Living or Working in the US
- Canadian owning or renting real estate property
- US business in Canada
- Canadian Business in the US
How to send my documents to a tax advisor?
- In-Person
- Email via scan or upload documents
- Fax
- Canada Post/Courier
Where can I file my personal taxes in person? (Will need to book appointment in advance, no walk ins please)
Downtown Toronto Central Location (Yonge & Richmond)
151 Yonge St
11th Floor
Toronto ON M5C 2W7
Downtown Toronto North Location (Yonge & Bloor)
2 Bloor St W
Suite 700
Toronto ON M4W 3E2
Downtown Toronto East Location (Queen and Church)
111 Queen Street East
South Building
Suite 450
Toronto ON M5C 1S1
Downtown Toronto West Location (University and Dundas)
439 University Ave
5th Floor
Toronto ON M5G 1Y8
Downtown Toronto South Location (Bay St and Queens Quay)
88 Queens Quay West
RBC Water Park Place
Suite 2500
Toronto ON M5J 0B8
Downtown Toronto Return Preparation (King St and Spadina Ave)
500 King St W
Suite 300
Toronto ON M5V 1L9
Downtown Toronto Tax Return Preparation (Yonge and Dundas) – Eaton Centre
1 Dundas St W
Suite 2500
Toronto ON M5G 1Z3
Downtown Toronto Tax Return Preparation (Yonge and St Clair)
2 St. Clair Ave West
18th Floor
Toronto ON M4V 1L5
Downtown Toronto Tax Return Preparation (Yonge and Davisville)
1920 Yonge Street
Suite 200
US Tax Service List (US Tax Preparer)-Downtown Toronto US Tax Return Preparation
US Cross Border Personal Tax Preparation (US Tax Filings in Canada)
- Specialist US Tax Accountant in US Personal federal and state tax
- Individual US Tax Return Preparation 1040 (American Citizen or Green Card Holder)
- US Rental Income Tax Return for NRA (Non-Resident Alien) 1040NR
- Capital Gains for the sale of US Real property and accompanying US Income Tax Filing
- US tax returns for US citizens living in Canada (form 1040), state and city returns if required
- US Tax Preparation for Canadians living in the USA (form 1040NR), state and city returns if required
US Corporate Tax Compliance (US Corporate Tax Returns & Forms in Canada)
- Specialist US Tax Accountant in US Corporate federal and state tax
- US corporate income tax returns for US corporations or foreign corporations (Form 1120 or form 1120F), together with required disclosure schedules
- Canadian corporations that are engaged in business activities in the U.S. without creating a U.S. permanent establishment
- Canadian corporations with business activities in the U.S. with a U.S. permanent establishment
- Canadian corporations that claim the Canada-U.S. income tax treaty or other applicable U.S. income tax treaty benefits;
- Canadian corporations investing in U.S. partnerships or LLCs or Canadian partnerships that have business activities in the U.S
- Canadian corporations that directly or indirectly hold U.S. real estate
| Form 1120 | U.S. Corporation Income Tax Return |
| Form 1120-C | U.S. Income Tax Return for Cooperative Associations |
| Form 1120-F | U.S. Income Tax Return of a Foreign Corporation |
| Form 1120-FSC | U.S. Income Tax Return of a Foreign Sales Corporation |
| Form 1120-F (Schedule H) | Deductions Allocated To Effectively Connected Income Under Regulations Section 1.861-8 |
| Form 1120-F (Schedule I) | Interest Expense Allocation Under Regulations Section 1.882-5 |
| Form 1120-F (Schedule M-3) | Net Income (Loss) Reconciliation for Foreign Corporations With Reportable Assets of $10 Million or More |
| Form 1120-F (Schedule P) | List of Foreign Partner Interests in Partnerships |
| Form 1120-F (Schedule Q) | Tax Liability of Qualified Derivatives Dealer (QDD) |
| Form 1120-F (Schedule S) | Exclusion of Income from the International Operation of Ships or Aircraft Under Section 883 |
| Form 1120-F Schedules M-1, M-2 | Reconciliation of Income (Loss) and Analysis of Unappropriated Retained Earnings per Books |
| Form 1120-F (Schedule V) | List of Vessels or Aircraft, Operators, and Owners |
| Form 1120-FSC (Schedule P) | Transfer Price or Commission |
| Form 1120-H | U.S. Income Tax Return for Homeowners Associations |
| Form 1120-IC-DISC | Interest Charge Domestic International Sales Corporation Return |
| Form 1120-IC-DISC (Schedule K) | Shareholder’s Statement of IC-DISC Distributions |
| Form 1120-IC-DISC (Schedule P) | Intercompany Transfer Price or Commission |
| Form 1120-IC-DISC (Schedule Q) | Borrower’s Certificate of Compliance With the Rules for Producer’s Loan |
| Form 1120-L | U.S. Life Insurance Company Income Tax Return |
| Form 1120-L (Schedule M-3) | Net Income (Loss) Reconciliation for U.S. Life Insurance Companies With Total Assets of $10 Million or More |
| Form 1120-ND | Return for Nuclear Decommissioning Funds and Certain Related Persons |
| Form 1120-PC | U.S. Property and Casualty Insurance Company Income Tax Return |
| Form 1120-PC (Schedule M-3) | Net Income (Loss) Reconciliation for U.S. Property and Casualty Insurance Companies with Total Assets of $10 Million or More |
| Form 1120-POL | U.S. Income Tax Return for Certain Political Organizations |
| Form 1120-REIT | U.S. Income Tax Return for Real Estate Investment Trusts |
| Form 1120-RIC | U.S. Income Tax Return for Regulated Investment Companies |
| Form 1120-S | U.S. Income Tax Return for an S Corporation |
| Form 1120 (Schedule B) | Additional Information for Schedule M-3 Filers |
| Form 1120 (Schedule D) | Capital Gains and Losses |
| Form 1120 (Schedule G) | Information on Certain Persons Owning the Corporation’s Voting Stock |
| Form 1120 (Schedule H) | Section 280H Limitations for a Personal Service Corporation (PSC) |
| Form 1120 (Schedule M-3) | Net Income (Loss) Reconciliation for Corporations With Total Assets of $10 Million or More |
| Form 1120 (Schedule N) | Foreign Operations of U.S. Corporations |
| Form 1120 (Schedule O) | Consent Plan and Apportionment Schedule for a Controlled Group |
| Form 1120 (Schedule PH) | U.S. Personal Holding Company (PHC) Tax |
| Form 1120 (Schedule UTP) | Uncertain Tax Position Statement |
| Form 1120-SF | U.S. Income Tax Return for Settlement Funds (Under Section 468B) |
| Form 1120-S (Schedule B-1) | Information on Certain Shareholders of an S Corporation |
| Form 1120-S (Schedule D) | Capital Gains and Losses and Built-in Gains |
| Form 1120-S (Schedule K-1) | Shareholder’s Share of Income, Deductions, Credits, etc. |
| Form 1120-S (Schedule K-2) | Shareholders Pro Rata Share Items-International |
| Form 1120-S (Schedule K-3) | Schedule K-3 (Form 1120-S), Shareholder’s Share of Income, Deductions, Credits, etc.-International |
| Form 1120-S (Schedule M-3) | Net Income (Loss) Reconciliation for S Corporations With Total Assets of $10 Million or More |
| Form 1120-X | Amended U.S. Corporation Income Tax Return |
| Form 1122 | Authorization and Consent of Subsidiary Corporation to be Included in a Consolidated Income Tax Return |
| Form 1125-A | Cost of Goods Sold |
| Form 1125-E | Compensation of Officers |
| Form 1127 | Application for Extension of Time for Payment of Tax Due to Undue Hardship |
| Form 1128 | Application to Adopt, Change or Retain a Tax Year |
| Form 1138 | Extension of Time For Payment of Taxes By a Corporation Expecting a Net Operating Loss Carryback |
| Form 1139 | Corporation Application for Tentative Refund |
US Partnership Tax – Downtown Toronto US Tax Return Preparation
- US partnership returns (Form 1065), together with partner statements (form K1)
- Canadian partnerships with business activities in the U.S.
US Trust Returns— Downtown Toronto US Tax Return Preparation
- Preparation of US trust returns (Form 1041)
- Completion of US estate tax returns for US citizens (Form 706) and non-resident aliens holding US property (Form 706NA)
US Payroll – Downtown Toronto US Tax Return Preparation
- Payroll remittances and summary reporting (forms W2 and W3), and withholdings and related forms (for example, Form 1099)
IRS Streamlined Procedure– Downtown Toronto US Tax Return Preparation
IRS Streamlined or “Catch-up” filings (Voluntary Disclosure) US Tax Returns and Forms.
The streamlined filing compliance procedures described below are available to taxpayers certifying that their failure to report foreign financial assets and pay all tax due in respect of those assets did not result from willful conduct on their part. The streamlined procedures are designed to provide taxpayers in such situations with
- a streamlined procedure for filing amended or delinquent returns, and
- terms for resolving their tax and penalty procedure for filing amended or delinquent returns, and
- terms for resolving their tax and penalty obligations.
FBAR – Downtown Toronto US Tax Return Preparation
A United States person, including a citizen, resident, corporation, partnership, limited liability company, trust, and estate, must file an FBAR to report:
- A financial interest in or signature or other authority over at least one financial account located outside the United States if,
- The aggregate value of those foreign financial accounts exceeded $10,000 at any time during the calendar year reported.
Foreign Tax Credit – Form 1116
To claim the foreign tax credit if you are an individual, estate, or trust, and you paid or accrued certain foreign taxes to a foreign country or U.S. possession. Claim credits for taxes paid and taxes withheld. Foreign tax credit
Treaty-based disclosure claims – Form 8833
If you claim treaty benefits that override or modify any provision of the Internal Revenue Code, and by claiming these benefits your tax is or might be, reduced, you must attach a fully completed Form 8833, Treaty-Based Return Position Disclosure Under Section 6114 or 7701(b), to your tax return. See Exceptions, below, for the situations where you are not required to file Form 8833.
You must file a U.S. tax return and Form 8833 if you claim the following treaty benefits:
- A reduction or modification in the taxation of gain or loss from the disposition of a U.S. real property interest based on a treaty.
- A change to the source of an item of income or a deduction based on a treaty.
- A credit for a specific foreign tax for which foreign tax credit would not be allowed by the Internal Revenue Code.
You must also file Form 8833 if you receive payments or income items totaling more than $100,000 and you determine your country of residence under a treaty.
Health Coverage Exemption – Form 8965
The individual shared responsibility provision requires taxpayers to do at least one of the following:
- Have qualifying health coverage called minimum essential coverage
- Qualify for a health coverage exemption
- Make a shared responsibility payment with their federal income tax return for the months that without coverage or an exemption.
Beginning in Tax Year 2019, Forms 1040 and 1040-SR will not have the “full-year health care coverage or exempt” box and Form 8965, Health Coverage Exemptions, will no longer be used. You need not make a shared responsibility payment or file Form 8965, Health Coverage Exemptions, with your tax return if you don’t have minimum essential coverage for part or all of the year.
Foreign earned income – Form 2555
If you qualify, you can use Form 2555 to figure out your foreign earned income exclusion and your housing exclusion or deduction. You cannot exclude or deduct more than your foreign earned income for the year.
Net Investment Income Tax (NIIT) – Form 8960
Form 8960 is the IRS form used to calculate your total net investment income (NII) and determine how much of it may be subject to the 3.8% Medicare contribution tax. The net investment income tax (NIIT) is a 3.8-percent tax on the smaller of your net investment income or modified adjusted gross income. The tax only applies if you report net investment income; your wages and self-employment earnings, by themselves, have no impact on the NIIT.
Other Forms for US tax filings (Common Forms):
Form 8938 – Statement of specific foreign financial assets
Form 5471. – Report of controlled foreign corporations:
Form 3520/3520-A – Owner, trustee, or beneficiary of a foreign trust
We make the US Tax Preparation Process Simple and Easy – Downtown Toronto US Tax Return Preparation
Downtown Toronto Tax Return Preparation makes the US tax return preparation process simple. Our clients rely on us to determine the minimum legally available income tax liability, through a creative and coordinated approach to the preparation of US tax returns.
In many cases, there are a number of alternative filing choices available, a choice that is complicated by the plethora of income tax laws in the United States, Canada, and abroad. In order to provide our clients with the best available alternative, many returns are prepared many times, using a set of alternative filing strategies. Our commitment to you is that we will research and recommend the optimal filing strategy in your specific situation.
We prepare returns for all 50 states from our offices in Downtown Toronto.
Downtown Toronto US Tax Return Preparation. For more information please email info@downtowntorontotaxreturnpreparation.com or call 647-951-4852 Ext. 2
Book an appointment to get ready for the 2024 Tax Season.
For US Tax Advice and Planning please visit our related firm Toronto Tax Consulting.