Personal Services

 

We are able to provide effective strategies to help minimize your overall tax burden. Through expert planning and preparation, our experienced and certified tax accountants will be able to guide you through the complex rules of the Canadian Income Tax Act and the US Internal Revenue Code. We are committed to providing convenient, accurate, and affordable personal tax preparation services.

 

 

Personal Tax Preparation

Not only can we assist with your Canadian tax reporting requirements, we can also assist with your US tax reporting requirements. We are able to assist you in determining your required US federal and state tax filing requirements. Cross-border taxation requires your advisor to understand the tax laws of all countries involved in order to minimize overall worldwide taxes.

Those who may have a US tax filing requirement include US citizens (either living in the US or living abroad), US green card holders, US residents, and other individuals earning income in the US (e.g. wages, rents, gambling winnings, etc.). Even Canadian “snowbirds” may have specific US tax filing requirements.

In recent years the Internal Revenue Service has been encouraging those US citizens and residents who may have fallen behind in their US tax filings to “catch-up” their returns. We can assist you in this area as well!

We are also available to liaise with the Canada Revenue Agency and/or the Internal Revenue Service on your behalf as required.

Use our checklists below to help you gather your tax information, and then contact us to set up an appointment date and time at your convenience.

Canadian Tax ChecklistCombined Canadian and US Citizen/Resident Tax ChecklistCombined Canadian and US Non-Resident Tax Checklist

 

Personal Financial Planning

One aspect of personal wealth management is planning and managing your investment risk, while also working towards maximizing your financial rewards. We would be pleased to meet with you to discuss the tax implications of various investments in order to come up with a plan to discuss with your investment broker.

Also, if you are a US citizen or resident, there are specific types of Canadian investments that can cause burdensome tax reporting requirements and potential double taxation for US tax purposes. Canadian Tax Free Savings Accounts (TFSAs) and Canadian Registered Education Savings Plans (RESPs) are considered foreign trusts under US tax law, and have separate filing deadlines from your US personal tax return. Please discuss with us today so that we can minimize your taxes and reduce any double taxation situations.

 

Estates and Trusts

Planning and compliance requirements for Canadian estates and trusts is another area riddled with complex rules and regulations. In order to minimize tax on the trust and its beneficiaries, as well as be respectful of your final wishes, your advisor must understand these specific taxation rules. Trust the experienced professionals of Quon & Associates Professional Accountants to provide sound advice for your estate and trust needs!