US Tax Accounting Services in Toronto
Stop worrying about IRS penalties! Our US tax accounting in Toronto handles your cross-border filing needs. We ensure 100% compliance with all US tax regulations. Plus, we maximize your tax benefits across borders. No more stress—just solutions.
Better Returns Across Borders: US Tax Accounting Services in Toronto
Slash Your US Tax Bill
Cross-border taxes are tough and cost Toronto folks $4,300 extra each year. Businesses feel it too, with $1.9 billion in daily US-Canada trade. Our team cuts your US tax by 15-30% by using the 1980 US-Canada tax treaty smartly.
Skip the Tax Paperwork Hassle
US tax rules take most people 22+ hours to sort out. Businesses face tons of forms like 1120 and 5471 too. Our Toronto team makes it quick and cuts your prep time by 85%. We handle it all—no late nights needed.
Block IRS Fines and Audits
Miss an FBAR filing? That’s up to $10,000 in penalties. Businesses worry about audit risks on US trade too. We keep you 100% compliant with all IRS rules. Plus, we’ve got your back with free audit support if the IRS calls. No fines, no stress.
Ditch Cross-Border Tax Stress
63% of Canadians with US taxes feel anxious. Businesses sweat audits and deadlines too. Filings, treaty benefits, even IRS disputes—our cross-border tax accountant handles it. Our team in Toronto keeps it smooth for you.
Our Comprehensive US Tax Accounting Services in Toronto
Our team knows how to manage US tax complexities. We help Toronto residents and businesses alike. From individual tax returns to complex corporate structures, we meet all of your US taxation needs.
US Individual Tax Compliance
- Fast US tax return prep (Form 1040/1040NR)
- Foreign tax credit boosts (Form 1116)
- FBAR filing for financial accounts (FinCEN Form 114)
- Streamlined filing for non-compliant taxpayers
- Quick fixes for US citizenship tax issues
- Smooth handling of US Social Security and pension income
- State tax return prep where needed
US Corporate Tax Services
- US corporate tax return prep (Form 1120/1120-F)
- Sharp cross-border corporate structures
- Transfer pricing documentation and compliance
- Clear reporting for foreign-owned US corporations (Form 5472)
- Fast US partnership return filing (Form 1065)
- Expert guidance on S-Corp options for Canadian owners
- Full state and local tax compliance for US operations
FATCA & Disclosure Compliance
- Complete FATCA reporting management
- Accurate foreign corporation reporting (Form 5471)
- Foreign partnership filings (Form 8865)
- Trust report filing (Forms 3520/3520-A)
- PFIC investment reporting (Form 8621)
- Offshore voluntary disclosure support
- Penalty fixes with full compliance
US Tax Planning & Consulting
- Broad cross-border tax planning
- Pre-immigration tax strategies
- Exit tax plans for US citizens/green card holders
- Custom US estate tax planning for Canadian residents
- Sharp investment structure tweaks
- Simple retirement planning across borders
- Tax-smart business expansion into US markets
IRS Representation & Dispute Resolution
- Strong IRS audit representation
- Tax controversy and dispute fixes
- Tough penalty reduction talks
- Easy installment payment setups
- Smart offers in compromise
- Fierce defense against IRS collections
- Tax court backup when needed
Cross-Border Coordination
- Big Canada-US tax treaty benefits
- Foreign tax credit sync on both sides
- Income timing strategies across jurisdictions
- Lower withholding taxes
- Unified cross-border compliance calendars
- One-stop fix for all Canada-US tax needs
- Easy cross-border estate planning
Trusted by Leading Toronto Businesses for US Tax Accounting
Our Toronto US tax consultants help all kinds of clients. We serve small business tax clients and multi-million dollar corporations. We help Canadian snowbirds, dual citizens, and businesses in the $1.9 billion daily cross-border trade with the US.
95+ Toronto Clients Trust Our US Tax Accounting Services
We use the best tax software and deep US-Canada tax treaty expertise. Our accountants make cross-border compliance straightforward and beneficial.
Clients tell us they’ve “saved thousands in unnecessary US tax payments.” They also say we “lowered the stress of cross-border filing” with our US tax services in Toronto.
Error-Free Filing
Our flawless review process ensures 100% accuracy. It reduces costly errors and keeps you IRS-compliant.
Strategic Planning
We offer cross-border tax strategies. They legally minimize your US tax burden through treaty benefits and smart planning.
Comprehensive Support
You get year-round support on cross-border tax matters. We’re here beyond just tax season.
See Why Clients Love Our US Tax Accounting Services in Toronto
Pay Only When You’re 100% Satisfied.
Money-Back Guarantee
You only pay when you’re completely satisfied with our US tax planning in Toronto.
IRS Audit Protection
Worried about IRS scrutiny? We provide free audit support for all returns we prepare.
Transparent Pricing
Our cross-border tax services in Toronto come with clear pricing. No hidden fees or surprises here.
Why Do Toronto Clients Choose Our US Tax Accounting Services?
US Tax Accounting Services in Toronto Tailored to All Industries
Technology & Startups
Stock options, IP transfers, and US investor rules can confuse tech companies. Our Toronto cross-border accounting saves 20-35% on taxes with smart company choices and IP handling. Tech clients skip costly GILTI taxes while growing into US markets.
Real Estate Investors
Owning property across borders means special tax rules under FIRPTA. We set up real estate tax plans to cut US estate taxes and use 1031 exchanges for Toronto investors. Clients save about $8,500 a year with right rental income reports and bigger deductions both ways.
E-commerce & Digital Businesses
Digital businesses deal with tax rules and marketplace issues in many US states. Our US tax accounting Toronto services handle nexus limits for 45+ states. Sales tax automation cuts compliance costs by 60% and keeps everything legal across the US.
Professional Services
Professional service providers working across borders risk double taxes. Our US tax planning in Toronto lowers worldwide taxes by 25-40% by offering optimal entity structures. Nexus checks stop extra state filings, saving Toronto pros thousands in costs.
Snowbirds & US Property Owners
Spending lots of time in the US brings tax risks for Toronto folks. Our planning stops accidental US tax residency and fixes US real estate ownership. Snowbird clients dodge over $15,000+ in US taxes with solid plans and paperwork.
US Citizens & Green Card Holders in Toronto
US citizens in Toronto must file US taxes no matter where they are. We line up taxes across both countries. Our CPA properly uses the foreign earned income exclusion (up to $120,000) and foreign tax credits. Dual-citizen clients cut double taxes by 95%+ with the right compliance steps.
A Message from Our CPA
Hi, I’m the founder of SAL Accounting. I’ve assisted hundreds of Toronto clients with their US tax needs. I understand the challenges you face with cross-border taxes. Our skilled team combines US tax expertise with Toronto-specific knowledge. We ensure your taxes stay as low as allowed and fully meet IRS standards. Let us sort out the messy US tax bits so you can focus on your business or cross-border life.
M. SALMAN
Meet Our Expert US Tax Accountants in Toronto
Sarah Zeyneb
Jazz Thind
Alex Hart
M.SALMAN, CPA
FAQs: US Tax Accounting Services in Toronto
As a Canadian resident, when am I required to file US tax returns?
You may need to file US tax returns if you’re a US citizen or green card holder (no matter where you live), earn income from US sources, own US assets, or spend a lot of time in the US (usually 183+ days in a year). Our team will review your situation to determine exactly what you need to file. For dual citizens in Toronto, our US tax accountants use special procedures that can eliminate penalties for past unfiled returns, potentially saving you more than $10,000.
How does the Canada-US tax treaty help Toronto residents with US tax obligations?
The Canada-US tax treaty helps prevent you from being taxed twice on the same income. It uses tax credits and special rules about where you’re considered a resident. Our cross-border tax accountant uses these treaty benefits to reduce your tax bill by 15-30%. We help Toronto business owners lower US withholding taxes from 30% to 15% on dividends and sometimes even less.
What are the FBAR and FATCA requirements for Toronto residents?
If you’re a US person with foreign accounts totaling over $10,000 at any point in the year, you must file an FBAR (Form 114). FATCA requires reporting foreign financial assets on Form 8938 if they exceed certain values. The penalties are steep – up to $12,921 for each accidental FBAR violation and up to $129,210 or 50% of the account value for intentional violations. We’ll make sure you comply with these rules to avoid these serious penalties.
How do you handle US state tax obligations for Toronto residents?
Besides federal taxes, many Toronto residents and businesses may owe state taxes too. We check all 50 states to see where you might need to file based on property, employees, or sales in that state. We prepare all needed state returns and use strategies to minimize your state taxes. Our clients usually cut their multi-state tax costs by 40-65% through our US tax planning.
Can Toronto businesses with US operations minimize their US tax burden?
Yes! We create specific strategies like US business incorporation for Toronto businesses operating in the US, documenting transfer pricing for both US and Canadian tax authorities, creating tax-efficient supply chains, and more. Our business clients typically reduce their overall tax bill by 20-30% while staying compliant with all tax laws.
What is the US exit tax and how does it affect Toronto residents?
The US exit tax applies to long-term US citizens or green card holders who give up their citizenship or permanent resident status. It treats your assets as if you sold them the day before you renounced, which can create a large tax bill. Our Toronto cross-border accounting can reduce this exit tax by 40-60% through careful timing and restructuring your assets before you renounce.
How do you ensure compliance with both CRA and IRS requirements?
Besides your Canadian tax documents, you’ll need:
- Your US tax ID numbers
- Information about all your worldwide income sources
- Details about foreign bank accounts and assets
- Records of how many days you spent in the US during the year
- Any previous US tax returns
Our organized process guides you through collecting these documents with much less effort than doing it yourself.
How do you stay current with constantly changing US tax laws?
Our US tax specialists in Toronto complete more than 40 hours of continuing education focused on cross-border taxation. We subscribe to specialized US tax research services, attend IRS workshops, and participate in international tax professional groups. This ensures we apply the latest tax law changes to your situation, often using new tax benefits before they become widely known.
Where is SAL Accounting located?
Our office is conveniently located at 330 Bay Street, Unit 1401, in Toronto, Ontario M5J 0B6. We are situated at the intersection of Bay Street and Adelaide Street West, right in the heart of downtown Toronto.
Book Your FREE US Tax Consultation Today!
Ready to wipe out US tax stress? Schedule a free chat with our experienced US tax accountants in Toronto. We’ll create a custom plan to cut your cross-border tax burden. And we’ll keep you perfectly compliant with all IRS requirements!