Dear Sir/Madam,
I am a Canadian citizen livign and working in the US and am interested in using your tax preparation and tax advice services. I would like to get a quote from you on how much a tax consultation and tax preparation would cost for next year. Here are the highlights of my status:
1. Married, but wife is not working
2. Living in California
3. Moved to the US 2 year ago. Taxes for past 2 years were prepared by a firm specializing in US/Canada tax.
I am also interested in getting advice on purchasing a house in Toronto Canada and the tax/finanicial implications of doing so. I would appreciate it if you could provide me with the quote for the tax preparation and for getting advice on the real estate (separately).
Thank you in advance.
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david ingram replies
I usually quote between $800 and $2,800 for US / Canada Tax Preparation.
I charge $400.00 Cdn per hour plus 6% GST if the client is in Canada and the work is staying in Canada and/or returning to Canada.
The following is a price guideline which is posted on the web site which i send out when requested.
Note that phone consultations tend to be $400 and would likely, usually cover your real estate question. If you have paid for a consultation and phone back with a 5 minute follow up a couple of times, I do not usually charge for that 5 minute follow up.
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David Ingram's US / Canada
Services
US / Canada / Mexico tax, Immigration and working Visa
Specialists
US / Canada Real Estate
Specialists
My Home office is at:
4466 Prospect
Road
Cell (604) 657-8451 -
Calls welcomed from 10 AM to 9 PM 7 days a week
Vancouver (LA) time - (please do not fax or phone outside of those
hours as this is a home office)
email to [email protected]
David Ingram gives expert income
tax & immigration help to non-resident Americans & Canadians from
New York to California to Mexico family,
estate, income trust trusts Cross border, dual citizen - out of
country investments are all handled with competence &
authority.
Phone consultations are $400 for 15
minutes to 50 minutes (professional hour). Please note that GST is added if
product remains in Canada or a phone consultation is in Canada.
This is not intended to be definitive
but in general I am quoting $800 to $2,800 for a dual country tax
return.
$800 would be one T4 slip one W2 slip
one or two interest slips and you lived in one country only - no self employment
or rentals or capital gains - you did not move into or out of the country in
this year.
$1,000 would be the same with one rental
$1,200 would be the same with one business no
rental
$1,200 would be the minimum with a move in or out
of the country. These are complicated because of the back and forth foreign tax
credits. - The IRS says a foreign tax credit takes 1 hour and 53
minutes.
$1,500 would be the minimum with a rental or two in
the country you do not live in or a rental and a business and foreign tax
credits no move in or out
$1,600 would be for income from two countries for two
people
$2,800 would be all of the above and you moved in
and out of the country.
This is just a guideline for US / Canadian
returns
We will still prepare Canadian only (lives in
Canada, no US connection period) with two or three slips and no capital
gains, etc. for $150.00 up.
With a Rental for $350
A Business for $350 - Rental and business likely
$450
And an American only (lives in the US
with no Canadian income or filing period) with about the same things in the same
range with a little bit more if there is a state return.
Moving in or out of the country or
part year earnings in the US will ALWAYS be $800 and up.
TDF 90-22.1 forms are $50 for the
first and $25.00 each after that when part of a tax
return.
8891 forms are generally $50.00 to
$100.00 each.
18 RRSPs would be $900.00 - (maybe
amalgamate a couple)
Capital gains *sales) are
likely $50.00 for the first and $20.00 each after that.
Just a guideline not etched in
stone.
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