fees and charges
High-income. Annual gross income over $130,000 CAD per tax payer +$129
High-income earners have a greater chance of generating a US tax liability, and increased chance of being audited and an increased chance of fines, late fees and interest charges. For these reasons, all high-income tax returns are reviewed by our most experienced accountants.
Registered Company (Self-employment) +$0
If you registered a company in Canada for the purposes of self-employment, please tell us. The fees for the tax return will not change from the basic rate because you have a Registered Company.
Registered Corporation* +$450
A Registered Corporation is very different from a Registered Company. A Registered Corporation requires much more technical reporting on your US tax return. Severe penalties can exist even for accidental inaccrate reporting. A specialist business accountant will prepare and review your US tax return.
Registered Education Savings Plan in Canada (RESP) +$295
An RESP is viewed by the IRS as a trust and for that reason requires additional complex calculations and reporting to be filed along with your US tax return.
Tax-free Savings Account in Canada (TFSA) +$295
A TFSA is viewed by the IRS as a trust and for that reason requires additional complex calculations and reporting to be filed along with your US tax return.
Unregistered Canadian Mutual Funds (PFIC) +$95
An Unregisrted Canadian Mutual Fund is viewed by the IRS as a Passive Foreign Investment Company. Each PFIC requires additional complex calculations and reporting to be filed along with your US tax return.
Statement of Specified Foreign Financial Assets (8938) +$45
Certain U.S. taxpayers holding specified foreign financial assets with an aggregate value exceeding $50,000 will report information about those assets on new Form 8938, which must be attached to the taxpayer’s annual income tax return. Higher asset thresholds apply to U.S. taxpayers who file a joint tax return or who reside abroad