Overview
Whether you are an individual or a business, looking to move or expand to the US, or a business expanding into Canada, it is essential to understand all the cross-border tax implications this entails. Our in-house tax team are experts on the systems on both sides of the border and can provide you with the best tax solution to any challenge you face.
Our Expertise
With a team of nearly 20 seasoned tax professionals, including partners and principals, Smythe has one of Canada’s largest cross-border tax practices for an independent firm.
We provide proactive US & cross-border tax solutions and compliance services for individuals and Canadian businesses operating and expanding in the US, as well as US businesses expanding to Canada.
What We Offer
Smythe will keep you up to date with current tax laws, regulations and procedures that could impact your cross-border personal and business compliance needs.
We believe in a “one firm, one team” approach, where we collaborate closely with our Canadian tax, audit & accounting and business advisory teams. Our network extends to Canadian and US legal counsel, financial advisors, trade associations, banks and other financial institutions.
Scenarios we can advise on include:
If you are one of the hundreds of thousands of people relocating from Canada to the US, or vice versa, our consultants are experts in the tax issues that will affect you. This involves reviewing investments, reporting obligations and potential “traps” resulting from the network of laws between the two countries. Leaving this aspect of your move to us may free you to focus on other important aspects of a cross-border move.
Understanding the estate & gift tax system in the US can be complicated, with rules and requirements constantly changing. If you have lost a loved one or are planning for future generations, our team can provide expert estate tax solutions to minimize your tax exposure and to navigate the gauntlet of reporting for your beneficiaries.
The reporting obligations for shareholders and investors in any Canadian Controlled Private Company, US S Corporation or US LLC can be extremely complex, and failing to meet requirements can have serious punitive tax consequences. Our team at Smythe can help you navigate tax landscape whether you’re a Canadian who holds shares in American company, or vice versa.
If you, as an individual employee, have stock options, RSUs or other stock plan income earned inside and/or outside Canada, our team can assist you. We have robust experience assisting employees with correctly reporting all their stock income, reconciling what has been reported via payroll, etc.
If you own a Canadian company that is looking to expand into the US, Smythe’s in-house talent have direct and extensive experience assisting businesses operating in the US and within a multi-state environment, whether that be small to mid-size enterprises or multinational corporations.
On the other hand, if you represent a US-based business looking to foray into Canada, either through organic means, mergers or acquisitions, we can help. Our US, cross-border and Canadian tax experts will work with our advisory team to help make your entry into this new market highly tax-efficient.
From setting up a US Subsidiary C Corporation to investing in US Limited Partnerships, we help Canadian corporations and investors maximize their footprint while planning efficient and risk-mitigated repatriation strategies for funds coming back into Canada. We also provide expert advice, backed by decades of experience, on how best to structure your organization if you are a US-based company looking to set up shop in Canada.
While purchasing real estate as an individual is one of life’s most significant milestones, it can also be a source of worry if it involves cross-border taxation and reporting. We can provide you with both technical and practical inputs to ensure you are fully compliant with laws in both the US and Canada when you decide to undertake this commitment.
We also assist Canadian corporations and investors in navigating the US tax system, and vice versa, when they are considering purchasing, operating and/or selling commercial real estate properties. Our expertise on this front covers like-kind exchange analysis and reporting, among other aspects.
We are adept in developing multifaceted tax strategies geared towards collaboration between Canadians and Americans on business ventures. Every business has a unique blueprint within a cross-border landscape, which necessitates specific and customized tax strategies to maximize return for parties on both sides of the border, and we are highly experienced in guiding such transactions, regardless of the scale of the investment.
Local Knowledge, Global Reach
As a member of Allinial Global, one of the largest global accounting networks, Smythe is internationally connected to independent accounting firms across the world. This relationship provides us with additional expertise, resources and connections in a variety of industries and tax jurisdictions.
We work closely with our Allinial Global affiliates to deliver trusted professional advice for our clients who require investment structuring in the US, Europe, Asia and other parts of the globe.
Tax Services Related Services
The tax landscape can be overwhelming to many. Our specialized consultants are adept at guiding clients through such daunting challenges, across industries. We have the resources and skills needed to help businesses of all sizes understand their tax needs, both locally and internationally.
Tax Planning & Compliance
We can help you navigate the increasingly complex tax landscape to develop effective strategies and solutions that work for you and your business.
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Estates & Trusts
Our experts understand that there is more to estate planning than just taxes. We know that maintaining family harmony and properly charting business succession plans are equally important.
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