Navigating U.S. Real Estate Sales and FIRPTA for Canadians
Selling your U.S. property as a Canadian resident involves a complex web of tax obligations on both sides of the border. From FIRPTA withholding to reporting capital gains in two countries, the process can be overwhelming. Brij Professional Corporation offers expert guidance to ensure you meet all your tax requirements efficiently and optimize your financial outcome.
As a dedicated cross-border tax expert, we specialize in managing the unique challenges you face. We provide clarity and confidence, handling the intricate details so you can focus on your sale.
Your Comprehensive Cross-Border Tax Solution
The tax implications of selling US property as a Canadian are significant. Without proper guidance, you risk costly errors and unnecessary tax burdens. We provide end-to-end services to manage every aspect of your U.S. and Canadian tax obligations, ensuring full compliance and peace of mind.
U.S. Tax Services
Our team expertly handles all necessary U.S. filings to manage your tax liability and secure any refunds you are owed.
1040NR Tax Return Preparation
We prepare and file your U.S. non-resident alien income tax return to accurately report the sale.
Capital Gains Computation
We precisely calculate your capital gains on US property for Canadians, ensuring you pay the correct amount of tax.
FIRPTA Withholding Management
The Foreign Investment in Real Property Tax Act (FIRPTA) requires a significant portion of your sale proceeds to be withheld. We help you navigate FIRPTA withholding Canada rules by:
1. Assisting with applications to reduce withholding tax on the sale of U.S. property.
2. Preparing Form 8288, 8288-A and 8288-B.
ITIN Application Assistance
An Individual Taxpayer Identification Number (ITIN) is essential for your U.S. tax filings. We guide you through the process of how to get an ITIN number as a Canadian selling property, making it simple and straightforward.
Canadian Tax Services
We prepare your Canadian tax return, including:
T1 Tax Return Preparation
We handle the reporting sale of U.S. property on Canadian tax return, integrating it seamlessly with your other income.
Foreign Tax Credit Claims
We maximize your eligible foreign tax credits to offset the U.S. taxes you've already paid, a key benefit of the Canada-U.S. tax treaty.
Capital Gains and Losses Computation
We calculate your capital gains or losses in Canadian dollars, accounting for currency fluctuations and ensuring compliance with CRA rules.
Strategic Cross-Border Tax Advisory
Beyond tax preparation, we offer strategic advisory services to protect your interests. As your trusted cross-border tax accountant for U.S. real estate sale, we provide proactive planning and guidance.
Cross-Border Tax Planning
We develop a holistic strategy that considers both U.S. and Canadian tax laws.
Tax Treaty Expertise
We leverage our deep knowledge of the Canada-U.S. tax treaty to minimize your overall tax burden.
Currency Exchange Considerations
We help you understand the impact of currency conversion on your capital gains and tax liabilities.
Why Choose Brij Professional Corporation?
When you’re a selling U.S. property Canadian resident, you need more than just a tax preparer; you need a strategic partner. We understand the nuances of U.S. property tax for Canadians and are committed to simplifying the process for you. Our professional, confident approach ensures you receive clear, accurate, and empathetic guidance every step of the way.
We handle the complexities so you can move forward with certainty.
Ready to simplify your cross-border tax obligations?
