US Tax Services
US Tax Services
We prepare simple federal and state tax returns for US Citizens living in Canada. We harmonize our clients’ Canadian tax returns with their US tax returns to take advantage of the Canada-USA Tax Treaty.
I only ever had contacted one accountant, and I am glad I chose Focused Bookkeeping. Randy is very knowledgeable, non-judgemental (in terms of me not knowing a lot about what I came to him for help), very positive and on-point. Next time I need help with anything accounting-related, I know where I will go. Thank you!
Focused Tax Strategies were the best tax preparation firm I have ever worked with. They gave me peace of mind and were extremely knowledgeable. I had the privilege to have Randy Larson prepared my tax returns and his friendly manner and professional business etiquette made my experience calm and effortless. I will always do my taxes with Randy now and would tell anyone looking for tax services to go to FOCUSED TAX STRATEGIES…they’re the best!!!
I just had a great experience with Randy! Other reviewers are absolutely right when they say he is extremely kind, friendly and professional. Taxes give me lots of anxiety and Randy’s approach put me at ease. He was very sympathetic with my less than stellar outcome (he double & triple checked the numbers were right!) and helped soften the blow. I will definitely be coming back to see Randy for all my future accounting needs.
The team at Focused Bookkeeping is truly amazing! Randy is incredibly knowledgeable and can help you with just about anything tax or business related. I started my own business last year and needed a ton of help with setting everything up and Randy was helpful every step of the way! I would recommend Focused Bookkeeping to anyone looking for great personal and professional service.
I went to Randy Larson on the recommendation of other yelpers and couldn’t have been more pleased. Randy is friendly and personable. He took the time to thoroughly explain my tax return and answer all of my questions. He took all the stress out of the process. I will definitely be a repeat customer and have already referred him to friends.
Professional, helpful, patient – always a pleasure to deal with. Thank you again Randy.
Huge thanks as always for giving us your time and expertise. You make tax time actually enjoyable!
If you’re looking for a pain free tax filing experience go to Randy Larson. He’s a seasoned professional that will not only help you with your tax return, he’ll do it on the spot, in 9 minutes, with a kind smile, thoroughly, and at the right price. I got the peace of mind my return was accurate and also some valuable tips. And he was genuinely “on my side”.
This guy is great. He is very knowledgeable about small business and provided me with excellent advice. He is very personable and patient and he is willing to explain things.. I am so glad I went with Focused Bookkeeping!
You’re awesome! I actually don’t mind the tax season when it rolls around. And I tell my friends about you every year, so expect maybe 2 more recommendations next year!
I highly recommend Randy Larson for his expertise and for his patience! Thank you, Randy – yet again.
I had a particularly complicated tax year this year, with new investments, moving back to Canada from abroad, contract work and full-time T4 work. I was totally incapable of managing this on my own. Randy’s website offered quick online booking – no phone call required – and clear listings of what he’d charge me to prepare my taxes. It was a breeze to set up an appointment with him! When we had our first call, I was sure that my situation would take multiple sessions, to which Randy replied, with his charming, sweet demeanor “Nah, let’s just dive right in!” To my surprise, he finished my return in about an hour, and we had a wonderful chat along the way. This was easily some of the best money I’ve EVER spent – he saved me a ton of stress, walked me through the process clearly, and came back with a far better return than I’d expected – and all the while he was patient, friendly, and very sweet. I highly recommend Randy’s services and cannot wait to use him in the future and recommend friends.
I have been with Randy for several years now and can say that he makes dealing with taxes as stress-free as dealing with taxes can be.
From my experience, Randy takes a genuine interest in his clients and talks/walks them through what he is doing, at a pace that they can follow and in a kind and patient way. He is happy to answer querstions and his methodical approach let’s me know that I am in good hands. 5 stars across the board.
I went to see these guys to do my personal taxes. Randy made this process very comfortable, quick, and pain free. He’s a super nice fella too! I would highly recommend them to anyone who is not comfortable doing their own tax prep. I will definitely see him again next year.
I love this guy!! Randy is just the warmest and most welcoming ever. We crushed 4 years of taxes in 30 mins, and he was so thorough and professional. He walked me through the whole entire process which I really appreciated. I have never had a better experience doing taxes, and would recommend Randy in a heartbeat.
Couldn’t be more pleased with my experience. Fast, friendly and professional. Most importantly, I am provided with great peace of mind, knowing my books and tax return are accurate and up to date.
The words tax return and wonderful don’t usually go together but in this case they do! Randy saw me without an appointment as he had a cancellation. Helped me file a return that was a little more complicated. Experienced, professional and funny! I can’t recommend highly enough. Thank you!
Randy was very knowledgeable and extremely helpful with all my questions. I have a lot of anxiety when it comes to doing anything regarding numbers and Randy made the entire process very easy. The icing on the cake- Very personable and truly cares about his clients.
US Tax Considerations
World-Wide Income
As in Canada, US citizens are required to report their world-wide income. They can also claim the US taxes paid, as will be described below.
Although the income earned in the US before immigrating to Canada is not taxable in Canada, it is important to report that income to the Canada Revenue Agency. World wide income is considered when applying for various benefits such as GST Rebates and Child Care Benefits
Foreign Earned Income Exemption
US citizens living abroad may claim up to US $107K of various types of earned income which may be exempt from taxes in the US.
You may qualify for the foreign earned income exclusion, the foreign housing exclusion, and/or the foreign housing deduction. To claim these benefits, you must have foreign earned income, your tax home must be in a foreign country, and you must be one of the following:
- A U.S. citizen who is a bona fide resident of a foreign country or countries for an uninterrupted period that includes an entire tax year,
- A U.S. resident alien who is a citizen or national of a country with which the United States has an income tax treaty in effect and who is a bona fide resident of a foreign country or countries for an uninterrupted period that includes an entire tax year, or
- A U.S. citizen or a U.S. resident alien who is physically present in a foreign country or countries for at least 330 full days during any period of 12 consecutive months.
Foreign Tax Credits
When you earn income in Canada and pay taxes to the Canada Revenue Agency, you may be entitled to claim part of all of those taxes in your US tax returns.
Claiming foreign tax credits in your US tax returns helps to avoid double taxation.
Occasionally, the International Division of the Canada Revenue Agency will ask for documentation to prove that US tax returns were filed and taxes were already paid. The IRS doesn’t always mail a notice of assessment like the CRA does. You may need to call the IRS to request an Account Transcript, which will be faxed to you. This is the document required by the CRA to confirm that your claim re: foreign tax credits is legitimate.
FBARs
Most clients are required to file a FBAR if they have non-retirement financial assets that total over USD 10K. We can prepare and file these returns that are separate from the US 1040s
Departure Taxes
If a US citizen moves to Canada and then moves back to the US after 5 years, they may be liable for a 25% departure tax on their assets. This is a complex issue and requires planning and expertise. Please contact our founder, Randy Larson, for more information.
Federal (1040) and State Tax Returns
- Simple US federal form to be mailed (not efiled)
- Harmonized with Canadian T1 return
FBAR filings
- Basic data provided by client
- Need copy of filing for previous year