Fundamentals of U.S. & Canada Cross Border Returns
How to Prepare Canadian T1 and U.S. 1040 Returns for Dual Citizens/Residents
NEW GUEST INSTRUCTOR SERIES AT CANADIAN TAX ACADEMY
This seminar/course is presented by our guest instructor, Mark Fehrman, CPA. This is an 8-hour seminar/course dealing with Canadian/US cross border returns. Whether you are looking at expanding your tax practice or to gain some valuable knowledge as part of your CPD requirements, this course will provide a solid foundation.
VERIFIABLE HOURS FOR CPA CPD PURPOSES = 8.0 HOURS
Refund Policy: If you are unsatisfied with your purchase or if it is not what you were looking for, contact us in the first 14 days and we will give you a full refund, no questions asked.
FUNDAMENTALS OF U.S. & CANADA CROSS BORDER RETURNS
Are you a Canadian professional accountant or tax preparer who is looking to broaden your expertise and master the complexities of filing cross border tax returns for those clients who have filing obligations on both sides of the border?
Do you have clients who are dual citizenship with lots of questions regarding their tax situation or income earned in the US, but find it challenging to answer these questions? Do you get nervous when asked to navigate the intricate process of filing personal tax returns for individuals with dual residency or cross-border income sources?
Look no further! The "Fundamentals of US & Canada Cross Border Personal Tax Returns" course is here to empower you with the knowledge and skills you need to excel in cross-border tax preparation.
This comprehensive online course is designed to provide you with a solid foundation in both Canadian and US tax regulations, equipping you with the expertise to confidently handle personal tax returns for clients with cross-border tax situations. Taught by a professional Canadian CPA with extensive experience in preparing thousands of both US 1040 and Canadian personal T1 tax returns, this course offers a unique blend of theory and practical application.
Imagine gaining access to insider tips, real-world examples, and expert advice that will demystify the complexities of US taxes and their interaction with Canadian tax laws. No longer will you feel overwhelmed or unsure about how to proceed with cross-border tax filings. With our step-by-step approach, you'll learn the intricacies of preparing both Canadian personal T1 returns and US 1040 returns, ensuring compliance and optimizing tax benefits for your clients.
One of the problems both Canadian and US accountants are faces with is the lack of knowledge and understanding when it comes navigating both the Canadian and U.S. tax systems. Add to this the lack of knowledge with the Canada/US Tax Treaty and it is easy to see how most accountants are in the dark when it comes to clients who have tax filing obligations in both the US and Canada. This can lead to serious adverse tax consequences for your clients. Don’t be left standing in the dark with these clients. As we know, ignorance is not a defense for professionals when it comes to making errors on tax returns.
Don't let this scare you. You can narrow the knowledge gap and not hinder your career growth or limit your ability to serve clients with cross-border tax needs. Our course will provide you with the expertise you need to confidently navigate the complexities of cross-border tax requirements.
But it doesn't stop there! This course is not only for professionals; it's also perfect for bookkeepers and other financial professionals looking to expand their services by delving into personal tax matters. Don’t turn away clients that may have transactions, income or business leading to tax obligations in the United States. Imagine the value you can provide to your clients by understanding the intricacies of cross-border tax preparation. You'll be able to offer comprehensive tax services and position yourself as an expert in the field.
Even if you're a student in a professional accounting program, this course offers a hands-on, real-world approach to learning the ins and outs of tax preparation. Gain practical knowledge that goes beyond textbooks and classroom lectures. You'll be equipped with the skills and confidence necessary to excel in your future career. Imagine the advantage you’ll have if you tell potential employers that you understand how to prepare cross border tax returns on both the US and Canadian side.
We understand the challenges faced by professionals when it comes to cross-border tax issues. The fear of making mistakes or falling into non-compliance can be overwhelming. That's why our course is meticulously crafted to address these concerns head-on. We'll guide you through the entire process, ensuring you have a clear understanding of each step and providing valuable insights to help you avoid costly errors.
One of the critical areas we'll focus on is claiming foreign tax credits. Many individuals and professionals struggle to optimize tax benefits in cross-border scenarios. Our course will arm you with the knowledge and strategies to maximize foreign tax credits, minimizing tax liabilities for your clients and ensuring they receive the benefits they're entitled to.
Imagine the confidence you'll feel when preparing personal tax returns for individuals with filing obligations in both Canada and the United States. You'll no longer second-guess yourself or spend countless hours researching complex tax regulations. Our course will empower you to handle cross-border tax situations efficiently and accurately, saving you time and giving you a competitive edge in the market.
Whether you're a seasoned professional seeking to expand your expertise or an aspiring tax preparer looking to kickstart your career, the "Fundamentals of US & Canada Cross Border Personal Tax Returns" course is your gateway to success. With our comprehensive curriculum, practical examples, and expert guidance, you'll gain the knowledge and skills needed to become a trusted advisor in the realm of cross-border tax preparation.
Don't miss this opportunity to invest in your professional growth and unlock new possibilities for your career. Enroll in our course today and join the ranks of successful tax professionals who have mastered the complexities of cross-border personal tax returns. Your journey to expertise begins now.
To see a full listing of the course curriculum and tutorials, just scroll down and be sure to click the little arrow to see all the course tutorials you’ll have instant access to.
Your Instructor
Mark Fehrman is a professional accountant and owner of KIS Tax Services Professional Corporation located in Fort Erie, Ontario.
Mark’s passion for the industry came from helping on his parent’s farm and learning the importance of numbers when making sound financial decisions.
After graduating from The University of Waterloo, Mark’s career led him to focus on Cross Border Taxation. Since Mark is a citizen of the United States, this area of tax is personal to him. It is his mission to inform the public on how to navigate the complexities of Cross Border Taxation.
Course Curriculum
-
StartWelcome to Preparing Cross Border Tax Returns - Introduction by Ian DiNovo (3:58)
-
StartDownload course notes here - Refund policy - Certificates (5:00)
-
StartAdministration - Course Payments, Refund policy, certificates of completion (6:25)
-
StartIntroduction to Preparing Cross Border Tax Returns - Introductory course by Mark Fehrman (5:30)
-
StartTeaching approach we will be using in this course (3:18)
-
StartHow to contact me and ask questions - Asking the right questions and what I cannot answer (1:29)
-
StartDiscussing and advising on US & Canadian tax software (1:36)
-
StartWhat we cannot cover in this course - State and Provincial taxes or In-depth rules of each country (1:43)
-
StartIntroduction to Module 1 Overview of cross border tax (0:43)
-
StartWhy we prepare both returns in situations involving cross border tax obligations (3:47)
-
StartLook over my shoulder as I take you through a mock scenario to prepare a cross border return (15:09)
-
StartLearning the dance - Understanding the mindset of tackling cross border scenarios and returns (2:50)
-
StartQualify before you quantify - How the littles changes can impact the entire return (3:27)
-
StartOverview of the treaty and treaty positions (7:56)
-
StartThe importance of exchange rates and ensuring that you are using the proper converted numbers for each return (1:52)
-
StartHow to determine residency - Asking the Canada Revenue Agency (CRA) (4:54)
-
StartUS & Canadian Taxpayer Identification Numbers (TIN) (6:22)
-
StartDeadlines for filing Canadian and US returns (2:41)
-
StartHow to grow a cross border return practice (2:17)
-
StartIntroduction to Module 2 and Non-Resident Tax Returns (0:26)
-
StartOverview of Non-Resident (NR) returns that can be filed and your options - Your return filing toolbelt (2:38)
-
StartCanada Form NR7 - Application for Refund of Part XIII Tax Withheld - Example of filled out form (2:28)
-
StartCanadian Non-Resident Return - File for Canadian sources income (3:22)
-
StartSection 216 - Non Resident return with election on reporting rental income (3:45)
-
StartSection 217 Return - Non-resident return not common but important to understand (1:14)
-
StartDrawing a timeline of income with discussion (7:15)