Tax professionals and fees?

[CD2015 6]

Hi all!

We're researching on taxes -Ah it's that wonderful time of the year :/

Just wondering if anyone has a good recommendation for a tax accountant and/or if you guys can advise how much you've had to pay your tax professional to help you file your US/CA tax return?

background just in case: I'm canadian resident and moved to the US in November 2015 on K1

Lived and earned income in Canada until November 2015 (I didn't work in 2015 in the US and no US Income in 2015)

Filed AOS and got SSN in November 2015

Got EAD/AP in Feb 2016

Husband- USC lived and earned income in US

Thanks

[Russ&Caro 1,549]

If you live in Buffalo, as your profile suggests, then there is probably a pretty good chance that there are tax professionals who have dealt with immigrants from Canada. I'd simply call a few and ask them if they have this specific experience. It's probably not a bad idea to hire a professional in this, your first tax year as a couple.

[Dualie 185]

We use an accounting firm that specializes in cross border tax preparation. They charge by complexity generally. I have a few small pensions - RRSPs - and some income from Canada. They charged us almost $900 all told, but we don't want to screw up and end up owing the IRS thousands. And this year I will have three months of Canadian earnings in the mix. Still waiting for T4s too...

Hopefully you find someone a little less expensive

[NikLR 13,227]

http://www.serbinski.com/

[Teddy B 17,252]

http://www.serbinski.com/

I'll second this.

If you live in Buffalo, as your profile suggests, then there is probably a pretty good chance that there are tax professionals who have dealt with immigrants from Canada. I'd simply call a few and ask them if they have this specific experience. It's probably not a bad idea to hire a professional in this, your first tax year as a couple.

I agree. My wife and I did the same for her first tax year here to avoid any problems, we hired a CPA. After that it became simple to do and I just do them on Turbo Tax now for a fraction of the cost.

[CD2015 6]

If you live in Buffalo, as your profile suggests, then there is probably a pretty good chance that there are tax professionals who have dealt with immigrants from Canada. I'd simply call a few and ask them if they have this specific experience. It's probably not a bad idea to hire a professional in this, your first tax year as a couple.

Thanks! Yes we definitely want to use a professional for our first year as a couple with all the complications attached with the visa/dual residencies!!

We use an accounting firm that specializes in cross border tax preparation. They charge by complexity generally. I have a few small pensions - RRSPs - and some income from Canada. They charged us almost $900 all told, but we don't want to screw up and end up owing the IRS thousands. And this year I will have three months of Canadian earnings in the mix. Still waiting for T4s too...

Hopefully you find someone a little less expensive

$900 is not too bad! I rang Serbinski and they said around 750 on average but as you said, they charge by complexity so who knows what we'll end up paying!! The most I've been quoted was $1200-1500!!

http://www.serbinski.com/

Thanks!

I'll second this.

I agree. My wife and I did the same for her first tax year here to avoid any problems, we hired a CPA. After that it became simple to do and I just do them on Turbo Tax now for a fraction of the cost.

Thanks!

[Udella&Wiz 325]

Your timeline is identical to mine pretty much except for the year. I moved in Nov as well - no US income for that year.

I didn't need a tax professional at all, I doubt you will unless you have something complicated so it's worth a try by yourself to save some $$$. I filled my Canadian taxes (couldn't Netfile so had to print off but other then that it was easy). I believe I listed myself as married, my new husband had no "Canadian' income so left that as zero . Also I was not entitled to any other credits of any kind since I was no longer a resident.

US taxes were even easier, did them with Turbo tax, filed jointly, included my Canadian income (adjusted for exchange rate) as 'World income', hubs claimed me as a dependent (I believe was the term) and there was no impact since I didn't have permanent residency that yr (2015 for you)

Good luck however you handle it.

Edited February 29, 2016 by Udella&Wiz

[mdcatelli 16]

Your timeline is identical to mine pretty much except for the year. I moved in Nov as well - no US income for that year.

I didn't need a tax professional at all, I doubt you will unless you have something complicated so it's worth a try by yourself to save some $$$. I filled my Canadian taxes (couldn't Netfile so had to print off but other then that it was easy). I believe I listed myself as married, my new husband had no "Canadian' income so left that as zero . Also I was not entitled to any other credits of any kind since I was no longer a resident.

US taxes were even easier, did them with Turbo tax, filed jointly, included my Canadian income (adjusted for exchange rate) as 'World income', hubs claimed me as a dependent (I believe was the term) and there was no impact since I didn't have permanent residency that yr (2015 for you)

Good luck however you handle it.

Did you use a program to do your Canadian Taxes and then print them out? I am trying to figure out how to do mine and wasn't sure if there was a program that could help me fill it out, and then print and mail.

My FIL is an accountant here in the US, so he will do our US taxes for us, but still need to figure out how to do the Canadian on my own!

[Udella&Wiz 325]

At the time I think it was called netfile.ca ....I just had to print it at the end. (I googled and don't see netfile.ca anymore...so maybe that wasn't it)

Someone else here has undountedly done this more recently then me

Did you use a program to do your Canadian Taxes and then print them out? I am trying to figure out how to do mine and wasn't sure if there was a program that could help me fill it out, and then print and mail.

My FIL is an accountant here in the US, so he will do our US taxes for us, but still need to figure out how to do the Canadian on my own!

[Loki_Go 126]

I just called and spoke to the Serbinski Firm and I'm going to have them prepare my taxes. After going through a little about what I have going on and what they need to report and file for me I think their cost will be very worthwhile. I'm still working remotely for my CDN company and hold bank accounts/investments over there and all that needs to be reported... so yeah. I'm feeling really confident they'll do a proper job of our taxes.

[mdcatelli 16]

I just called and spoke to the Serbinski Firm and I'm going to have them prepare my taxes. After going through a little about what I have going on and what they need to report and file for me I think their cost will be very worthwhile. I'm still working remotely for my CDN company and hold bank accounts/investments over there and all that needs to be reported... so yeah. I'm feeling really confident they'll do a proper job of our taxes.

How much did they quote you, if you don't mind me asking?

I don't have a lot of stuff but I am having difficulty finding a program to make it work, since I am considered an Emmigrant for the tax year and they don't have an option that prorates the amounts.

It's incredibly frustrating. I just need to do the Canadian ones, and not worry about American since my Father in Law is doing that part for us.

[Loki_Go 126]

I don't mind. They quoted between $1200-1500 and the initial consult is $125 which will be applied to the total (so whatever the total is -$125). I still have bank accounts, RRSPs, a tax free saving account and 2 other investment accounts in Canada so all that has to be reported properly on the US return; I also have to do the exit portion on the Canadian return. They'll help us figure out what option is best as far as filing jointly married or separately (US only). I know it's better as far as immigration goes to file jointly but since I have so much going on it might be better filing separately. I also have to deal with reporting the taxes I've already paid form my income in Canada on my US return and apply for that credit. I won't be getting dual taxed. Yay!

I think there's more but that's all I can remember off the top of my head. And there's no way I'd know to do any of those things if I hadn't spoken to Serbinski.

[Loki_Go 126]

Also they're located in Toronto so I wonder if they quoted that in Canadian funds. I didn't think to ask.