The U.S. tax system went through a major overhaul as a result of the Tax Cuts and Jobs Act (TCJA). Beginning in 2018, the U.S. taxes individuals on worldwide income whereas corporations on a Quasi-territorial
IRS form 5471, Information Return of U.S. Persons With Respect to Certain Foreign Corporations, is one of the most complex forms in the U.S. Expat tax return package. The form has evolved significantly post-TCJA to
How to calculate foreign accrual property income for a Canadian corporation.
Question: Do Canadian Corps using U.S. Amazon FBA services need to pay branch profit taxes and file 5472.
IRS Streamlined Foreign Offshore Procedures In this post: Streamline Foreign Offshore Procedures (SFOP) – Overview Eligibility for SFOP Requirements of SFOP – Checklist Who should not use SFOP! How can Maroof HS CPA Professional Corporation
Many of Canadian taxpayers maintain a second home, a vacation property, or hold a U.S. real property interest for investment purposes. In 2020 and 2021, there is an upward trend of dispositions of U.S. real
Global Intangible Low-Taxed Income – Simplified! The Tax Cuts and Jobs Act of 2017 (TCJA) brought major changes to the U.S. tax system. With these changes come additional complications for U.S. citizens and resident aliens.
U.S. LLCs and S Corps are hybrid entities due to a mismatch of income tax treatment in both U.S. and Canada
Canadians in the U.S. must file U.S. tax return if they meet Substantial presence test. What’s the exception due to Covid-19
