Calgary is home to several head offices as a matter of fact has the second highest concentration in all of Canada. Some of the largest employers in Calgary include the Canadian Pacific Railway, Suncor Energy, Flint Energy Services, and more. With that being said, there are also several accounting services available as well. This is where the problem may come in for many people whether you need personal accounting services, services for your small business, or for your large corporation, as you must find the right one in order to ensure you receive the services that meet your needs.
According to your own needs, it is always best to choose a company that offers full service so you do not have to use two different companies. Choosing one company to provide all your accounting needs will not only save you time but also money.
Personal accounting services
When choosing accounting services in Calgary you will want to ensure the company can assist with all you financial needs including US tax reporting as well as Canadian tax reporting if it applies. The cross border taxation laws are completely different from one country to another and in order to properly prepare all tax documents, your accounting service must know the laws. US federal and state tax filing requirements are completely different than the tax filing laws in Canada; therefore seeking the advice of an accounting service is always the best answer.
You must file US tax documents if you are a United States citizen, hold a United States green card, earn any income from the United States including rental properties and gambling winnings. For those that live in the United States during the winter and come back to Canada during the summer months, may need certain United States filing requirements. On the other hand, you may only be interested in filing old United States tax returns and need advice.
Personal accounting services can include wealth management along with managing your investment risk. An accounting service can provide information to help you decide on the best plan for tax implications of different investments so you can discuss these options with your investment broker. If you are a United States citizen or live in the US some Canadian investments bring on difficult tax reporting requirements and may lead to double taxation. If you have RESP’s or TFSA’s there are specific filing deadlines for filing your United States tax return.
It may be hard to believe that your estate and trusts are also put under specific taxation rules. In order to protect not only your estate but also the beneficiaries, it is best to talk with an accounting service that can aid in minimizing the tax on your estate and trusts.
If you are looking for the accounting services Calgary, it is important to learn how long they have been in business and ensure they offer the exact services you require.