Preparing Canada/U.S. Cross Border Returns - Examples

CPD HOURS FOR THIS COURSE - 3 VERIFIABLE HOURS FOR CPA CPD PURPOSES

Are you a Canadian tax professional looking to expand your knowledge of the U.S. tax system and stay on top of the latest developments in cross-border personal tax preparation? Have you ever considered or wondered about the filing requirements for individuals who have obligations on both sides of the border? Our course, Preparing Cross-Border Canada and US Personal Tax Returns based on the Canada/U.S. Tax Treaty, will give you the fundamental knowledge you need.

Look over the shoulder of our U.S. tax instructor, Mark Fehrman, to gain a better understanding of the complex world of cross-border personal tax preparation. Whether you're a seasoned tax professional or just starting out, this course will equip you with the knowledge and skills you need to confidently prepare cross-border personal tax returns based on the Canada/U.S. Tax Treaty.

One of the primary benefits of taking this course is the opportunity to expand your expertise and increase your revenue potential. Many tax professionals only offer basic tax preparation services, but by adding cross-border personal tax preparation to your repertoire, you'll be able to serve a wider range of clients and offer more comprehensive services. This can help you attract new clients and increase your revenue stream. With more and more individuals and businesses operating across borders, it's essential that tax professionals have a deep understanding of the legal and regulatory landscape surrounding cross-border personal tax preparation.

Even if you only prepare Canadian personal tax returns, understanding cross-border personal tax preparation can still be immensely valuable. Many Canadians have investments, property, or other assets in the United States, and understanding the tax implications of these assets is essential for providing comprehensive tax preparation services.

Or, if you are just looking for a great way to meet your CPA CPD requirements, this is a great body of knowledge to have in your arsenal. I don’t know about you, but questions and confusion arise quite often among friends and family who are looking to invest or move to the U.S. You can provide them with some valuable guidance with the information in this course.

The course itself is designed to be accessible and user-friendly, even for those who may be new to this complex area of tax preparation. You'll receive step-by-step guidance on how to prepare cross-border personal tax returns based on the Canada/U.S. Tax Treaty, as well as helpful tips for communicating with clients and navigating the legal and regulatory landscape.

Watch the instructor, Mark Fehrman, as he takes you through the thought process, various options and the tax forms and schedules on both the US 1040 and Canadian T1 return covering the following common situations:

• Examples of individuals who live in Canada and move to the United States, and the parallel scenario of an individual who has lived in the U.S. and moved to Canada
• The Canadian snowbird who lives in the U.S. during the cold Canadian winter months
• A Canadian resident who sells property owned in the United States
• A U.S. resident who sells property owned in Canada
• A scenario covering the options and issues of whether it is more beneficial to retire in the United States or Canada

At the end of the course, you'll be equipped with the knowledge and skills you need to confidently prepare cross-border personal tax returns based on the Canada/U.S. Tax Treaty. This will not only benefit your clients, but also help you build a reputation as a knowledgeable and competent tax professional.

PREREQUISITE: Please note that this course assumes you have taken the Canadian Tax Academy course Applications of the Canada/U.S. Tax Treaty or have the knowledge equivalent. The instructor will not be explaining the fundamentals, but will be referring to them during the presentations.