The Van Cleef & Kapur team knows tax law on both sides of the Us-Canada border. We're here to help you maximize your tax return and manage your filing, in noth The United States and Canada.
US citizens living in Canada, and Canadians who own rental properties in the United States must file both a Canadian tax return and a US tax return.
The Van Cleef & Kapur team will deftly navigate all your options, to minimize your liability for both Canada and U.S. taxes, so you're not paying more than you should be, or being taxed twice.
US citizens and green card holders (who meet the income threshold requirements) must file a 1040 form every year. You may be subject to additional reporting if you own or are a beneficiary of Canadian mutual funds, TFSAs, RESPs, RRSPs or RPPs.
For US citizens living outside in Canada, your tax return filing is due on June 15. The Canadian tax return deadline is May 2, and the IRS begins to assess interest on unpaid balances starting April 15.