Why Do You Need US Tax Accountant in Alberta

Are you looking for a US tax accountant in Alberta? Then go no further as this blog will suggest to you the most efficient US tax accountant service.

US Tax Accountant in Alberta

Whether you are a salaried professional or a business entrepreneur, you need to file a tax return to the government. There will be a harsh penalty if you miss the deadline. The tax return got to be filed each financial year, and there is no alternative to it. But the problem arises when you need to calculate the total tax return amount. The situation becomes more difficult if you are a busy person and do not have sufficient knowledge of tax return filing. That is why you need to have a personalized service of Us tax accountant in Alberta.

Why Do You Need a US Tax Accountant in Alberta?

Being a resident alien, many US citizens want to submit tax returns by themselves. But that is not a wise decision. It is always better to go for tax accountant services because of the following reasons:

1. Complicated Tax Law: Not everyone is well-versed in tax laws. These laws are detailed in nature and change frequently. Therefore, it becomes highly challenging for a non-tax professional to have a complete idea about the tax laws.

Since the US tax accountant in Alberta is a Certified Public Accountant, there is no question about their knowledge about tax return laws. They can file the tax returns on your behalf accurately.

2. Time Savings: If you have ever filed a tax return through self-assessment, you know how stressful and time-consuming that can be. And if you have not, then rest assured that it will take a lot of your precious time.

And that was about the personal tax filing. If you have to file tax for your company or your employers’, the time and effort required become manifold. Only an experienced US tax accountant in Alberta like Kapil Mahajan Professional Corporation can help you in this regard by performing the hectic task in a short time without any mistake.

3. Cost Cutting: What happens in the case of self tax-assessment is that you always file more tax returns than it is actually due. The reason is, if you file less than your actual tax return, the government will penalize you. So, to avoid fines and penalties, no one wants to file the tax return inaccurately. Our tax accountants will work on your needs and find the right tax planning opportunities.

When you assign a tax accountant, they will calculate the exact amount of tax you are due to pay in a particular financial year. It saves you from paying the additional taxes you would have paid to avoid penalty. Moreover, the expert accountants will find out ways so that you have to file a minimum tax return while obliging to the law at the same time.

Who Is the Best US Tax Accountant in Alberta, Canada?

Kapil Mahajan Professional Corporation is considered as the professional US Tax Accountant Service in Alberta. They are one of the best in business when it comes to calculating and submitting tax returns. With the experience of more than 5 years in this field of cross-border taxation, the company has processed tax filing of more than 100 clients. Its clients are spread in three continents with a high success rate.

Why Choose Kapil Mahajan Professional Corporation?

You might be wondering why to choose Kapil Mahajan Professional Corporation for tax. We have listed some of the right reasons why you must hire us as your US tax accountant in Alberta:

Relevant Knowledge: Expert knowledge on any subject matter takes years to build. Our staff has an excellent record in their academic careers. Not only that, they keep themselves up to date with the latest taxation laws of the USA, Canada, and other countries to serve you better.

Hands-on Experience: Besides having in-depth knowledge of tax filing, our staff also has practical experience of working with clients having a diverse portfolio. They have served clients across the globe and, therefore, know how to find the exact needs of the client.

Affordable Price: If the high charge of a US tax accountant is stopping you from hiring one, Kapil Mahajan Professional Corporation is what you are looking for. It offers all types of taxation services at an affordable price. It does not matter where you are located; you can easily pay them using your Debit / Credit card or the online payment method.

On-Time Service: Once the talented team of tax accountants of this company starts to work on your file, there will be no delay. Even if you contact them only a few days before the last date of tax filing, you can rest assured that the returns will be submitted on time.

Wrapping Up the Discussion

From the above discussion, you can see that getting a US tax accountant in Alberta will come with ample benefits. They make sure that you submit the minimum tax returns while avoiding any legal issues. For the people living in Alberta, Kapil Mahajan Professional Corporation is the right choice. The company provides timely service at a cost-effective rate to all US citizens and residents.

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How US Tax Accountant in Edmonton Help in Tax Compliance

All countries around the world impose a definite amount of taxes on their citizens and businesses.  So, paying tax is something you cannot escape. This process becomes complicated when the company or individual is in a foreign land and working with global vendors or partners. The US citizens working or staying in Canada also come under this umbrella. US citizens working anywhere in the world need to pay taxes to the IRS.

Though they are staying in a foreign country, they still need to comply with the latest USA tax rules. Noncompliance with IRS rules may attract huge fines, among other consequences permitted by laws and regulations. 

Field experts always suggest that individuals or businesses should consult and trust professional tax accountants as advisories while willing to comply with the USA and Canada’s tax rules.

Elaboration of Tax Compliance

In a nutshell, tax compliance is staying aware of and following the state, federal, and international tax laws and necessary submissions set as rules by USA Govt. agencies. Essential compliance is meeting the April 15th deadline when filing tax information to IRS. Those who are unable to file tax submissions by the above date are non compliant. 

Approximately 38 to 40 forms and schedules are to be complied with by a US citizen while earning in Canada. Hence, compliance with these multiple rules and regulations become time consuming and challenging. US taxpayers in Canada are increasingly looking for US Tax Accountant in Edmonton, Alberta, Canada

Some of the examples of compliance requirements are as follows:

  • At the introductory level, the taxpayer must comply with the proper submission of T1 and 1040, Canadian and USA tax returns, respectively.
  • US FBAR forms (US 114 form) to report foreign non-US bank account details.
  • T1135 foreign profits verification form from the Canadian side.
  • Schedule 1 through 6 of form 1040 for IRS tax submissions
  • Schedule A through schedule F and schedule SE
  • Form 2350 where an individual may request a return submission extension if they suspect unable to file the return on time
  • Form 5471 must be filed by US taxpayers who have more than 10% interest in a foreign private company

There are more schedules and forms from both Canadian and USA end which a taxpayer must file if eligible and hence comply. US Tax Accountant in Edmonton, Kapil Mahajan Professional Corporation, is highly proficient as a consultant to assess and submit tax filing professionally.

US Tax Accountant

US Tax Accountant in Edmonton—Simplify the Challenges in Tax Compliance

Many matters can confuse an individual while assessing and filing their tax return. It, in the end, affects compliance adversely. If an individual misses very tiny details of tax rules or miscalculates due tax to a fraction amount, it is noncompliant. 

Added to the above, tax rules and guidelines are updated from time to time at the federal, state, and international levels. Individuals, businesses, or contractors must file a tax return in compliance with new updates of tax laws. These obstacles and the penalties involved with nonconformity are producing rising requirements for US Tax Accountant in Edmonton, Canada, as tax advisory. Certified public accountants who are an expert in taxation can help citizens, and business partners steer through changing tax laws. Individuals and businesses will then stay assured that the exact tax amount will be paid on the due date without any fail.

Kapil Mahajan Professional Corporation as USA Tax Consultant

Kapil Mahajan Professional Corporation is a famous tax advisor in pan Canada including Toronto and Alberta, that also works as the US tax accountant in Edmonton. The firm has a global footprint in delivering consultancy services in accounting, USA taxation, business advisory, Canadian taxation, and estate & succession planning.

In Edmonton’s USA tax filing consultancy service, the team processes tax submissions like corporate tax, personal tax, partnership tax, and expat tax.

They offer personal tax filing, partnership tax returns, corporate tax submission, and trust tax submissions in Canadian tax consulting services.

The Top Five Features of a Tax Consultant

When it comes to hiring a certified public accountant, look for the following features:

1. Monthly or Trial Accounting

One of the best ways to evaluate new service providers is to try a portion of their service for the short term. Sign up for a trial service, such as a one-time tax return submission process, and assess the new vendor’s performance.

2. Reviews from Past and Current Clients

Look for social media platform reviews or Google reviews to find out more about the new vendor for your tax consultant needs.

3. Availability

The consulting firm or accountant should allocate ample time to cater to your questions and keep you on the same page during the project.

4. Education

The team’s level of educ

ation or CPA itself is an excellent metric to evaluate the consulting agency. Look for renowned degrees in the portfolio of your new professional accountant.

5. Knowledge and Experience

Try to get a thorough understanding of whether the firm or CPA possesses enough knowledge of taxation laws in Canada and the USA. Also, probe to know more about the company’s portfolio, which clients they have served so far. 

ConclusionFrom tiny boutique businesses to large transport corporations that move freights across the country, everyone needs a dependable tax consultant. Tax policies are getting complicated with an increase in compliance requirements for a multifaceted income source. When looking for a US Tax Accountant in Edmonton, Kapil Mahajan Professional Corporation provides exceptional support for a competitive price.

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