International & US Canadian Cross Border Tax Services Ottawa

We specialize in assisting International, US Canadian tax, and other countries in meeting, simplifying, and planning for their income tax needs. Our international tax accounting professionals provide clients with guidance on immigration taxes, financial and tax planning, and cross-border taxation Issues.

 

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Cross-Border Tax Services in Ottawa

The process of understanding and managing cross-border tax rules can be difficult, but it is a crucial one for US citizens in Canada and Canadian nationals who wish to relocate and/or work in another country. It is critical to manage both company and personal taxation needs strategically and proactively in order to avoid outsized tax payments, double taxation, and excessive penalty fees as a result of the complexity of US tax legislation and the large fines for noncompliance.

Estate Tax Planning Across International Boundaries. Despite its importance, cross-border estate planning is an issue that is usually disregarded by the general public. It is critical to plan ahead of time in order to ensure that as much of your hard-earned money as possible is preserved for the benefit of yourself and your family. It can be difficult to understand the laws, and many people would rather not waste their time or money researching them. Inadequate preparation can have major repercussions, including the imposition of penalties for failure to comply with income tax obligations and the creation of unexpected difficulties for those responsible for estate administration. Because of their ties to both Canada and the United States, an individual or family’s position becomes more difficult, requiring specialist knowledge that is not typically found in the professional tax and estate planning sector.

 

Canadian US and Cross-Border Tax Accountant

For income tax purposes, Canadian residents who spend time in the United States may be considered US residents and must file certain US tax returns. Canadians who spend more than a specific number of days in the US in a single year or over a three-year period must file a US tax return or provide other verification in order to avoid paying US taxes on worldwide income.

With more people than ever before preferring to trade in their snow boots for sandals each winter, exploring the potential of the US market, and investing abroad, the world appears to be shrinking. Dealing with ever-changing foreign legislation, on the other hand, might be tough. We provide services that combine both your personal and corporate objectives, giving you with a strategic strategy that cuts through the “red tape” and allows you to enjoy an international lifestyle while also functioning across borders with ease and efficiency.

We are proud of our growing in-house staff of international tax accountants that hold a range of Accounting and Tax qualifications in Canada, the United States, and internationally. This ideal blend of technical expertise and international contacts ensures that our clients’ global interests are in capable hands.

U.S. Tax Services and Tax Accountants in Canada

Our Canadian US Tax Services Provide company and personal income tax preparation services for Canadian and US citizens and residents, as well as foreign residents. Our experienced tax preparer can save you money by locating credits and deductions that you are eligible for, while also assisting you in complying with the CRA, state and federal tax requirements, or the tax regulations of your parent country.
Our tax planning services are intended to assist you, your family, and your business in making better use of the tax system. Our tax planning goal is to reduce your tax bills while building a tax-efficient financial strategy for retirement and investing.

General Accounting & Tax Services

Personal Tax Services

Bomcas Accounting and Tax Services in Canada offers personal tax services to clients in order to help them manage their personal and family wealth through strategic tax and financial planning.

Complete a GST/HST Return

When you file these electronically, the Canada Revenue Agency (CRA) now requires you to specify whether your income is from exempt or zero-rated goods, as well as sales from your linked organization.

Back Taxes, Unfiled Tax Returns

Our taxation services for individuals and businesses, including CRA audits, insolvency, back taxes, tax planning and assistance, and other services, can help you avoid making costly mistakes in the future.

Income Tax Preparation

Our tax professionals make taxes straightforward for you. File your tax return from wherever you are, and we’ll ensure you the most refund possible. You can file it in person, online, or by mail.

Small Business Accounting

We provide everything you’ll need to keep your business running smoothly. Accounting, strategy planning, payroll administration, cash flow management, bank financing, and other related services

Cross Border Tax Services

Our cross-border tax specialists are available to assist individuals and businesses with their tax issues. With us, you can rest assured that your cross-border taxes will be completed correctly the first time.

Sole Proprietorship Tax

Sole Proprietorship/Self- Employed. Your proprietorship or self employed income is reported along with any personal income on a T1 Income Tax Return. Our Tax Accountants are available

Corporation income tax return

To submit corporate income tax, you must file a tax return with the Canada Revenue Agency (CRA). Using your business number, you file your provincial corporate income taxes along with your federal income tax return.

Real Estate Accountant

Rental income must be reported in order to correctly complete and file your annual tax return. Our Real Estate accountants will assist you in maximizing any potential write-offs or benefits available to you.

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Dedicated Tax Accountants

With your taxes in our Accountant’s hands, you can rest easy knowing that you have a tax expert on your side who is conversant and knowledgeable about all of Canada’s tax regulations.

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Full-Service Support

Throughout the year, your Tax Accountant will advise you on tax methods that will help you save thousands of dollars. As well as all of the best practices. Your Accountant will work hard to secure you the largest possible return.

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No Hidden Cost

Your initial fee will be communicated to you. Many of our services are flat-rate or vary in price depending on their complexity. There will be no surprises on your bill, no matter how frequently you contact us. You only pay for work that has been completed.

Service Area in Ontario Canada

Accounting, Bookkeeping, Payroll, Farming, Personal & Corporate Tax, Income Tax Preparation are all services provided by Bomcas Canada. Here is a list of Ontario locations where we provide services. Please keep in mind that we can supply all of our services remotely and online to all of Ontario and all of Canada.

(780) 667-5250

Talk with a Tax Accountant Today

Tax Filing for Newcomers to Canada: Avoid Common Mistakes

Navigating the intricacies of tax filing for newcomers to Canada can be a daunting task. With the Canada Revenue Agency (CRA) administering a complex tax system that includes multiple tax credits, deductions, and varying tax rates, understanding one’s obligations and opportunities is crucial. This becomes even more significant for those filing an income tax return in Canada for the first time, where common mistakes can lead to missed benefits or compliance issues. Given this backdrop, this article aims to empower newcomers, including international students and temporary residents, with essential knowledge and tools to file their taxes accurately and efficiently.

At the heart of tax filing for newcomers to Canada are several key considerations: determining one’s tax residency status, obtaining a Social Insurance Number (SIN), understanding the progressive tax system, and knowing how to report foreign income to avoid double taxation. Additionally, newcomers must navigate through tax filing methods, deadlines, and the specifics of the first-time tax return in Canada, leveraging tax treaties and credits like the GST/HST credit, the First-Time Home Buyer’s Tax Credit, and the Canada Child Benefit (CCB). This comprehensive guide will explore these areas, offering insights into how to declare worldwide income, apply for relevant newcomer tax benefits, and understand the significance of the Notice of Assessment (NOA). By adhering to the outlined steps and considering the consultation of a tax expert when necessary, newcomers can achieve a smooth transition into Canada’s tax system, ensuring they meet their obligations while maximizing potential returns.

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Contact Information

To clarify, you may complete all your accounting and tax services entirely online with us, eliminating the need for you to travel to our office or take time away from work, among other things. You can also contact us and we will be pleased to assist you with any of your accounting and tax needs.

Call: 780-667-5250
Fax: 780-851-2520
Email: info@bomcas.ca