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Any Americans That Moved to Canada?
Old 12-30-2008, 07:12 AM   #1
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Any Americans That Moved to Canada?

After I RE I became a resident of Canada. This has caused complications in my taxes and investments and I am wondering if anyone can recommend an accountant that I could use for my US and Canada filings who is based in Ontario.

I've talked to many accountants in Canada and have been very disappointed by their lack of knowledge of cross border issues. I've been quoted 1-2K to do my filings. I am used to paying maybe 350 USD.

I am even considering doing the filings myself because at least I will learn all the issues that I confront as I struggle through the docs.
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Old 12-30-2008, 07:36 AM   #2
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You may want to start here: http://www.irs.gov/pub/irs-pdf/p54.pdf
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Old 12-30-2008, 08:55 AM   #3
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Originally Posted by Hank View Post
After I RE I became a resident of Canada. This has caused complications in my taxes and investments and I am wondering if anyone can recommend an accountant that I could use for my US and Canada filings who is based in Ontario.

I've talked to many accountants in Canada and have been very disappointed by their lack of knowledge of cross border issues. I've been quoted 1-2K to do my filings. I am used to paying maybe 350 USD.

I am even considering doing the filings myself because at least I will learn all the issues that I confront as I struggle through the docs.
Many friends of mine live in Canada and as they always tell me, everything there is more expensive cause something has to pay for the health care system.
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Old 12-30-2008, 09:39 AM   #4
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Originally Posted by Hank View Post
I am even considering doing the filings myself because at least I will learn all the issues that I confront as I struggle through the docs.
I can't advise on where to find a good accountant for this but I would suggest that you do so at least once and consider it as an investment. This is what I did back in '92 to see how to handle an earned income and a rental property in England while being a resident in the USA. After that first time I used TurboTax and did it myself. Cost me ~$1,200 back then - it hurt, but for me it was worth it for the education value.
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Old 12-30-2008, 03:33 PM   #5
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Originally Posted by Hank View Post
After I RE I became a resident of Canada. This has caused complications in my taxes and investments and I am wondering if anyone can recommend an accountant that I could use for my US and Canada filings who is based in Ontario.

I've talked to many accountants in Canada and have been very disappointed by their lack of knowledge of cross border issues. I've been quoted 1-2K to do my filings. I am used to paying maybe 350 USD.

I am even considering doing the filings myself because at least I will learn all the issues that I confront as I struggle through the docs.

There's a great company in Oakville (west of Toronto) that specializes in Canadian & US returns:

Can-Am Tax Center Inc
1515 Rebecca Street (2nd floor of Hopedale Mall)
Oakville, ON L6L 5G8, Canada

(905) 829-2687‎
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Old 01-01-2009, 08:55 PM   #6
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Here's an excellent reference on US/Canada cross-border issues, incl. taxes:
The Border Guide by Robert Keats
Border Guide: A guide to living across the border: Robert Keats: Amazon.ca: Books

It covers issues for both Americans in Canada and Canadians in America...I have not seen these topics discussed as clearly or comprehensively anywhere else. I am an American who immigrated to Canada in 2007 for my retirement and I've used this book extensively.

I work for H&R Block in Canada now during tax season, having done taxes for them in the US for 6 years prior to leaving Murka. From what I saw last year with the few cross-border clients who ventured into H&R Block, I'd think dual filings by an accountant should be $1000-1200CAD.

An alternative might be using Robert Keats' firm...he's also president of Cross Border Tax and Accounting, LLC based in Phoenix, AZ.
Phoenix, AZ CPA / Cross Border Tax & Accounting, LLC
The back cover of his book claims that they are the largest financial advisory firm specializing in Canada-US cross-border financial planning.

Best of luck!
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Old 01-03-2009, 01:58 AM   #7
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I'd think dual filings by an accountant should be $1000-1200CAD.
I am an American working in Canada. I, too, have found agents who understand cross-border tax issues. I have a very simple situation. I have no investments or property in Canada, which would complicate things immensely.

I pay a cross-border accountant charges about $550 US each ($1,100 total last year) to do two returns - Canadian first, then our US returns. I know folks who are paying much more, but none who pay less.

I could do them myself now, but I don't have time to take off to explain things if required, so I pay someone who can represent me. I also put a generous amount each paycheck into a Canadian savings account so I can pay my quarterly taxes and protect myself from under-runs at annual tax time.

Good luck.

Cheers,

Ed
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Old 01-03-2009, 02:15 PM   #8
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Many friends of mine live in Canada and as they always tell me, everything there is more expensive cause something has to pay for the health care system.
That's true but it's not the only reason. Think geography. Stuff has to be trucked or flown over enormous distances relative to the size of the communities it's going to or from. And then there's the weather......
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Old 01-04-2009, 02:40 PM   #9
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I'm sure if you call or go to the IRS website they will tell you exactly whats expected of you.
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Old 01-04-2009, 02:52 PM   #10
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I'm sure if you call or go to the IRS website they will tell you exactly whats expected of you.
Just use the simplified tax form:
1. How much did you make:________
2. Send it in.
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Old 01-04-2009, 03:03 PM   #11
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Just use the simplified tax form:
1. How much did you make:________
2. Send it in.
Pardon me, I thought that was the Revenue Canada form....
A bright, young, fresh-out-of-school auditor just joined Revenue Canada, excited to begin tracking down high-powered offenders. Anxious for his first high-powered audit, he was a bit dismayed when his assignment was to audit a Rabbi. Looking over the books and taxes were pretty straight forward, and the Rabbi clearly very frugal, so he thought he'd make his day interesting by having a little fun with the Rabbi.

"Rabbi", he said, "I noticed that you buy a lot of candles". "Yes", answered the Rabbi. "Well, Rabbi, what do you do with the candle drippings?" he asked. "A good question", noted the Rabbi. "We actually save them up and when we have enough, we send them back to the candle maker. And every now and then, they send us a free box of candles". "Oh", replied the auditor somewhat disappointed that his unusual question actually had a practical answer.

So he went on... "Rabbi, what about all these matzo purchases? What do you do with the crumbs from the matzo?" "Ah, yes," replied the Rabbi calmly, "we actually collect up all the crumbs from the matzo and when we have enough, we send them in a box back to the manufacturer and every now and then, they send a box of matzo balls." "Oh," replied the auditor, thinking hard how to fluster the Rabbi.

"Well, Rabbi," he went on, "what do you do with all the foreskins from the circumcisions?" "Yes, here too, we do not waste," answered the Rabbi. "We save up all the foreskins, and when we have enough we send them to Revenue Canada in Sudbury.". "Revenue Canada?", questioned the auditor in disbelief. "Ahh, yes", replied the Rabbi, "Revenue Canada. And about once a year, they send us a little prick like you".

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Old 01-04-2009, 03:07 PM   #12
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Beautiful.
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