Etobicoke Canadian and U.S. Tax Services

Such as cross border issues, U.S. tax returns, snowbirds, expatriate, appeals, business expansion, FBAR, rental properties, incorporations, restructuring, estate planning, CRA appeals
Estate Planning Etobicoke Ontario
  • Freezes-passing on future appreciation
  • Income splitting-dividends, capital gains, cheaper after-tax dollars for education/personal use
  • Alter-ego/joint-partner trusts
  • Wasting freeze-share redemptions (using GRIP)
  • Shareholder agreements/buy-sell
  • Wills
Post Mortem Planning Etobicoke Ontario
  • Corporate restructuring -bump, pipeline
  • Terminal, rights/things tax returns
Corporate Restructuring & Succession Planning Etobicoke Ontario
  • Inter-generational farm transfers
  • Creditor proofing, capital gains purification
  • Incorporation of professionals and other business
  • Employee share acquisitions
  • Shareholder split-up, asset spin-offs
  • Capital gains crystallization
  • Loss utilization-amalgamations, wind-ups
  • GRIP crystallization, secure loan-back, purification
  • Capital dividend account distributions
Partnership Restructuring Etobicoke Ontario
  • Incorporation of partnerships
  • Wind-up partnership
  • Conversion to proprietorship
  • Immigration/Emigration Planning
  • Residency and departure issues
  • Canadian/U.S. tax filings such as T1,T2,T3, U.S. 1040/1040NR, 1120/1120F/1120S,1065,706/706-NA
  • U.S. rental property purchase/sale
  • Clearance certificate applications under Section 116
  • U.S companies with Canadian branch operations
  • Canadian companies with U.S. branch operations
  • Other in-bound/out-bound transactions
Miscellaneous Etobicoke Ontario
  • Debt forgiveness
  • Foreign reporting CRA Forms T1134,T1135,T1141,T1142
  • Scientific research & experimental development tax credits CRA Forms T661/T2038
  • Voluntary disclosure applications
Certification of IRS Form W-7 – Etobicoke Ontario

I am an IRS Certified Acceptance Agent (“CAA”). This status allows me to certify IRS Form W-7 (“Application for Individual Taxpayer’s Identification Number”). The ITIN is needed for:

  • non-U.S persons filing U.S. tax return 1040NR, the W-7 is attached to the return
  • persons claiming an exemption for a non-U.S. person as an eligible dependent on a U.S. tax return
  • non-U.S. persons completing IRS Form W8-ECI/W8-Ben that is required for waivers for reduced withholding of the otherwise 30% U.S. non-resident tax, say on gross rental income and other passive income
  • purchasers of U.S. real estate from a non-U.S. person completing IRS Form 8288A or 8288-B (application for reduced withholding) on the sale of U.S. real estate
Canadian & U.S. Tax Services

There have been changes to the process as announced in June 2012 and in November 2012 by the IRS.

To prove foreign status and identity, you must submit certain original documentation or certified copies issued by the issuing agency. Your passport as an stand-alone document will prove both foreign status and identity. For those renting U.S. properties, you need to obtain a letter from the management company on their letterhead indicating that the ITIN is needed for reporting and/or withholding purposes. This letter must be attached to the W-7. Other withholding agents must prepare a similiar letter.

For my certification of the W-7, you need to get a copy of your passport certified by the passport office if you do not wish to send original documents. Without my certification, there is the likelihood that your W-7 has not been prepared accurately and completely, resulting in processings delays that will affect the processing of your U.S. tax return (say the U.S. 1040NR) and acceptance of waiver applications for reduced tax withholding. As a CAA, I have direct contact with the ITIN office should any difficulties arise.

ITINs for dependents may require submission of original documentation.

Why use Larry Stolberg Canadian & U.S. Tax Services – Etobicoke Ontario

Larry is an expert tax specialist who has been practicing full-time for over 30 years. He has the expertise, knowledge and resources necessary for efficient tax planning that will achieve both short and long term objectives. Located right here in the GTA, our office is easily accessible to Etobicoke residents.