Seasonal Home in Vancouver for Dual Citizen - david ingram expert US CANADA cross border non-resident income tax help and prepar

4466 Prospect Road

North Vancouver,  BC, CANADA, V7N 3L7

Cell (604) 657-8451 - 

(604) 980-0321 Fax (604)
980-0325


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) expert  US Canada Canadian American 
Mexican Income Tax  service help.
 email to [email protected]

www.centa.com www.david-ingram.com

pert  US Canada
Canadian American 
Mexican Income Tax  service and help.


David Ingram
gives expert income tax service & 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 $450 for 15 minutes to 50 minutes (professional hour). Please note
that GST is added if product remains in Canada or is to be returned to
Canada or a phone consultation is in Canada. ($472.50 with GST for in
person or if you are on the telephone in
Canada) expert  US Canada Canadian American 
Mexican
Income Tax  service and help.
This is not intended to be definitive
but in general I am quoting $900 to $3,000 for a dual country tax
return.




$900 would be one T4 slip one W2 slip
one or two interest slips and you lived in one country only (but were
filing both countries) - no self employment or rentals or capital gains
- you did not move into or out of the country in this year.
 
$1,200 would be the same with one
rental 
 
$1,300 would be the same with one
business no rental
 
$1,300 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.
 
$1,600 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 


$1,700 would be for two people with income from two countries




$3,000 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 $200.00 up. However, if
you have a stack of
1099, or T3 or T4A or T5 or K1 reporting forms, expect to pay an
average of $10.00 each with up to $50.00 for a K1 or T5013 or T5008 or
T101 --- Income trusts with amounts in box 42 are an even larger
problem and will be more expensive. - i.e.
20 information slips will be
at least $350.00 


 
With a Rental for $400, two or three
rentals for $550 to $700 (i.e. $150 per rental) First year Rental -
plus $250.


 
A Business for $400 - Rental and
business likely $550 to $700


 
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 $900 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.


Catch - up returns for the US where we use the
Canadian return as a guide for seven years at a time will be from $150
to
$600.00 per year depending upon numbers of bank accounts, RRSP's,
existence of rental houses, self employment, etc. Note that these
returns tend to be informational rather than taxable.  In fact, if
there are children involved, we usually get refunds of $1,000 per child
per year for 3 years.  We have done several catch-ups where the client
has received as much as $6,000 back for an $1,800 bill and one recently
with 6 children is resulting in over $12,000 refund.  



Email and Faxed information is convenient for the sender but very time
consuming and hard to keep track of when they come in multiple files. 
As of May 1, 2008, we will charge or be charging a surcharge for
information that comes in more than two files.  It can take us a
valuable hour or more  to try and put together the file when someone
sends 10 emails or 15 attachments, etc. We had one return with over 50
faxes and emails for instance.  




This is a
guideline not etched in stone.  If you do
your own TDF-90 forms, it is to your advantage. However, if we put them
in the first year, the computer carries them forward beautifully.



--IRS
Circular 230 Disclosure:  To
ensure
compliance with requirements imposed by the IRS, please be advised that
any
U.S. tax advice contained in this communication (including any
attachments) is
not intended or written to be used or relied upon, and cannot be used
or relied
upon, for the purpose of (i) avoiding penalties under the Internal
Revenue
Code, or (ii) promoting, marketing or recommending to another party any
transaction or matter addressed herein.--



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This question has been answered without detailed information or
consultation and is to be regarded only as general comment.   Nothing
in this message is or should be construed as advice in any particular
circumstances. No contract exists between the reader and the author and
any and all non-contractual duties are expressly denied. All readers
should obtain formal advice from a competent and
appropriately qualified legal practitioner or tax specialist for expert
help, assistance, preparation, or consultation  in connection with
personal or business affairs such as at www.centa.com or www.garygauvin.com. 
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