Specializing in Canadian & U.S. cross border taxation for individuals, business owners and other professional advisors

Call: (647) 298-1339 for an enquiry or an appointment - 

Larry Stolberg | Certified Public Accountant | Chartered Professional Accountant
Tax consulting to financial advisors, lawyers, accounting firms and other professional advisors in the Halton, Wellington and Greater Toronto Area (GTA)

Detailed Tax Service | Estate Planning | Post Mortem Planning | Corporate Restructuring & Succession Planning Partnership Restructuring | Immigration/Emigration Planning

Tax consulting for you, or for accounting firms, lawyers, financial advisors or other professionals

I often assist other professionals with the more complex Canadian and U.S. tax issues affecting their clients.

From corporate restructuring  and estate planning to cross border and domestic compliance, these are just a few areas that I may become involved.  You may click  the "Services" tab  at the top of the HOME PAGE and then scroll down to "Detailed Tax Services" for examples of various tax compliance and planning issues that I may deal with.

My fees for services are competitive to that of the GTA area.  I may invoice you or your client for a specific tax engagement, whatever you prefer. Initially, a retainer may be requested.

I will take the lead on tax engagements, review with you all relevant facts and information. For example, a detailed instruction letter for you or your client's lawyer may be provided, including a review of the legal documentation.  If requested, CRA election forms will be provided.  Where applicable, at your discretion, I may assist you in selecting a lawyer.

 I deal with various issues applying to individuals residing or working  in either Canada or the United States.  

General compliance work may include preparation of tax returns, personal, corporate, or trust/estate to filing notice of objections for appeals to the Canada Revenue Agency ("CRA") or it my include  just a simple planning consultation to get you on  the right track.

From U.S. compliance for annual 1040 tax return filings for U.S. citizens/green card holders to  IRS streamlined applications (catch-up), FBARs/FINCEN114, to expatriation, to  businesses expanding/operating in either country, to Canadians or non-residents buying their first U.S./Canadian rental property to snowbirds , I can assist in the process. Moving to/or from Canada or to/from the U.S. is dealt with on a regular basis.   

I am also an IRS Certified Acceptance Agent able to assist in obtaining an ITIN (individual taxpayer identification number).

Engagements for business owners and other interested parties

Including the tax services noted above, preparation of unaudited financial statements and Canadian corporate T2 or T1 personal tax returns to meet your compliance needs may be provided as well as dealing with  CRA appeals/disputes and filing notices of objection. Corporation restructuring or determination if you qualify for investment tax credit for doing research & development is another possibility. Please review the detailed services tab included in the "Services Tab" for additional services provided.

Estate Planning

I may deal with various techniques to minimize your otherwise potential tax burden arising on your passing. From assistance with WILL  preparation, to corporate restructuring, to post-mortem planning or  simply just to T1/T3  tax return preparation- I can assist in the process.

Succession planning in dealing with transfer of business to next generation is dealt with on a regular basis.

Corporate Reorganizations

I deal with various restructuring options from estate planning, to purification to enhance the your ability to obtain the capital gains

exemption, to entry of family members or key employees as shareholders, to inter-generational farm transfers, to consolidation to simplify your present structure and reduce your annual fees, to access to small business deduction, to assistance with structuring a shareholders agreement & corporate-owned life insurance or even incorporation of  professional corporations to that of proprietorships or partnerships-I can assist in the process.

U.S./ Canada Cross Border Compliance & Planning         

I deal with various issues applying to individuals residing or working  as employees or on a contractual basis in either Canada or the United States as well Canadian businesses or U.S. businesses wishing to expand into the other country. It is not  unusual to get into a structure and find out latter that it is not  only not tax effective but you have increased your annual compliance fees significantly.  Cross border payments and domestic laws and TREATY application are an a important part of the analysis!  Remember it is not always what you make, it is what you keep or retain. Repatriation of funds  is an important element.

Cross border payments  may include various types of income  such as management fees, dividends, interest, royalties or pensions/annuities. In some situations,  the Canada/U.S. tax treaty will exempt  or reduce the  U.S. 30% withholding tax. In this regard,  you generally would require an IRS issued waiver form such as the W8-Ben. Sometimes you may need a U.S. ITIN. If tax is over withheld, you need to file a U.S. return to get the refund which can be avoided if you deal with  the situation at the outset. Canada will not provide credit for excess withholding if it was due to you not claiming an available TREATY provision. 

From U.S. compliance for annual foreign information returns to 1040 tax return filings for U.S. citizens/green card holders to  IRS streamlined applications (catch-up), FBARs/FINCEN114, to expatriation,  to Canadians or non-residents buying their first U.S./Canadian rental property and their 1040NR filings, to U.S. corporate (protective) filings because you are carrying on business in the  U.S.,  I can assist in the process. Moving to/or from Canada or to/from the U.S. is dealt with on a regular basis.   

Snowbirds

Canadians who wish to reside in the U.S. for the winter months should be aware of the U.S. residency rules.  If you fall into these rules, you could be resident for U.S. income tax purposes and therefore be subject to U.S. tax on your world income unless you file the appropriate forms for exemptions.

Review the detailed article on Snowbirds contained in the Resources section-U.S. Taxation.

IRS CAA

I am also an IRS Certified Acceptance Agent able to assist in obtaining an ITIN (individual taxpayer identification number). As a CAA, I have direct access to the ITIN office to settle any queries that may arise or  enquire into the status of the W-7 application. Generally it takes 6 weeks to get your ITIN. On your own, it may take double the time if your application does  not fit into their review requirements and you have to resubmit and be at the bottom of the queue.

Tax Disputes and Appeals-CANADA & U.S.

Some of the routine areas that I may deal with are:

  • Applying for our Canadian voluntary disclosure procedures  to waive penalties and interest with respect to outstanding returns and prescribed forms
  • Appealing your notice of (re)assessment to obtain a more favourable result where indicated
  • Dealing with collection officers to obtain reasonable payment terms and\or to remove liens and requirements to pay orders
  • Meeting with officials to negotiate on your behalf
  • U.S. streamlined & OVDP procedures for U.S. persons in respect to past-due  tax returns, international information returns, FBARS (FINCEN114), etc.

Office Location

The office is located at 245 Commercial St. in Milton, Ontario. Please contact us by phone: (647) 298-1339 or email: lstolberg@lnsca.com to book an appointment. Larry Stolberg | Certified Public Accountant | Chartered Professional Accountant

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Professional Services

Corporate restructuring, estate & succession planning, tax appeals / disputes, immigration / emigration planning and more. Canadian / U.S. tax return preparation and unaudited financial statements available.

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Resources

We have provided a comprehensive collection of resources which you can review. Contact your professional advisor prior to implementing any of the outlined strategies. FATCA legislation enhances discovery of delinquent US filers.

Revised Streamlined Procedure!>>

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