US and Canadian tax filing - How much costing?? - A

I am a US citizen working in Canada on a NAFTA professional work visa
in Calgary. I have work related income from Canada, my wife has none
from either country. We both have small amounts of interest income
from US bank accounts.
Do you prepare both country's tax returns? If so, do you have a rate
schedule that you can send.
M xxxxxxxxxxxxx
=======================
david ingram replies:
We do both returns.  Generally, I quote between $750 and $1,500
Canadian
The following schedule is a bit of a guideline.  Forgive the
formatting please
================  US PRICES ==================
The CEN-TA Group's
MINIMUM PRICE LIST (as of  Oct 3, 2001)
Consultations with David Ingram - $375 / per hour min $550.00
United States Corporate  Tax Returns with Completed Trial
Balances Supplied by Taxpayer
1118   Foreign Tax Credit - Corporations
$ 150
1120   US Corporate Income Tax Return
650
1120D  US Corporate Capital Gains
350
1120F  Foreign Corporation operating in US
650
1120H US Homeowners' Association (Strata - Trailer court)
825
1120PH US Personal Holding Company
875
1120S  US Income Tax Return S Corporations
575
1120X US Corporate Amendment
675
State Corporate Return when done at same time
350
  Schedule K-1 1120 S Shareholders Share of Income, Credits,
Deductions, etc.
200
4562  Depreciation & Amortization
200
4626  Alternative Minimum Tax for Corporations
200
Other Forms or Schedules Required- Each (min 200 and up)
200
5471 - Information Return of US persons with Respect
to Certain Foreign Corporations
* No Depreciable Assets, No Sub-part F Income
675
* With Depreciable Assets and No Sub-part F Income
775
* No Depreciable Assets and Sub-part F Income
875
* With Depreciable Assets and Sub-part F income
975
Schedule J, 5471 Accumulated Earnings and Profits
200
* Schedule M, 5471 - Transactions Between Controlled Foreign
Corporation and Shareholders or Related Persons
250
* Schedule N, 5471 - Return of Officers, Directors and 10%
or more Shareholders of  Foreign Personal Holding Company
250
* Schedule O, 5471 Organization or Reorganization of Foreign
Corporation, and Acquisitions and Dispositions of its Stock
250>300
5472   Information Return of a 25% Foreign-Owned US
Corporation or a Foreign Corporation Engaged in US Trade or
Business
* One to Two Reportable Transaction Types                      375
* Three Reportable Transaction Types  or More
575
MULTIPLE RETURNS at same time
Corporate Returns-1120,  1120F, 1120S,  5471 &  5472  - when preparing
more  than  one  tax  year  return  for  the  same corporation at the
same time, the additional returns will be prepared at  a discount  of
$100 per tax year from the above prices.
Accounting will be billed at $150.00 (Canadian) to $250.00
(US/Canada) per hour.
Personal 1040  / 1040NR Returns tend to range from $300 to  $950 per
year with  $700 a high figure. At the same time,  $300 is  rare.   A
"usual"  charge would be closer to $400  per year.  (one salary,  one
interest  = $300). (Usually 2 1040NR returns with a U.S. Rental about
$550 – i.e. husband  and wife own a US rental property). With the
Canadian returns added in, you are likely looking at $750 to $1,500
per year
G S T
Returns prepared in Canada and delivered in Canada are subject to 7%
Canadian federal GST (Goods and Services Tax).  Returns prepared in
the US and delivered to Canada
are subject to 7% GST.  BUT, US returns prepared in Canada and
exported to the US by our office, are not subject to 7% GST. Canadian
returns exported to the US for return to Canada (where else?) “are”
subject to 7% GST on the bill.
david ingram’s US / Canada CEN-TA Income Tax Group
4466 Prospect Road
North Vancouver, British Columbia
Canada, V7N 3L7
(604) 980-0321 Fax (604) 980-0325
taxman at centa.com www.centa.com
                                                david ingram
===================================================================
the CEN-TA Group
- PRICE LIST - March 13, 2001
 We do  NOT give  prices out  over the  phone.   We will be  happy to
give you a copy of this or mail it to you. PLEASE  NOTE. WE  ONLY HAVE
OUR TIME TO SELL.  THE LONGER WE SPEND  DISCUSSING AN  ITEM IN
FEBRUARY,  MARCH  AND  APRIL,  THE  HIGHER WILL  BE THE  PRICE.  THE
BEST AND CHEAPEST TIME TO DISCUSS TAX  MATTERS  "ECONOMICALLY"  IS  IN
JUNE,  JULY,  AUGUST, SEPTEMBER, OCTOBER. (An hour is 50 min)
  GENERAL
Financial Counselling       Per Hour
$ 175
Accounting      Per Hour
150
Bookkeeping                     Per Hour
90
Personal Appointments with David Ingram -           Per Hour
375
Minimum First Time Charge
550
U S Tax Returns - simple  (one W2 - one 1099)
200
    complex  (multiple slips)   minimum
400
U S Gambling Returns            minimum
250
refund - over $1,000      minimum            400
U S Corporate - See Separate Price List
CANADIAN INCOME TAX RETURNS
T1 Income Tax Return Child or GST Tax Credit only
65
T1 Income Tax Return with T4 only
65
Child’s prepared with a Tuition and T4 slip
50
T1 Income Tax Return with  1 T4's  & 1 interest T5
75
T1 income Tax Return with business or rental or
  Cap Gains or Dividends or AMT plus schedules
100
Outside Home Province $50 surcharge to above price.
50
Schedules done in isolation minimum charge.  (i.e. – no tax return)
50
  - i.e.  just wants help with schedule 5 or
Transferable Spousal Deduction (Schedule 2)
  - With Tax return i.e we charge for return -
25
  - No Tax return prepared -
50
 Capital Gains -   per slip or per trade
10
or per hour (whichever less)
100
 Medical - Tape Schedule
10 to               35
  - Fiscal year sorted -       50 cents each    Minimum
30
     Schedule 4/5 - Investment/partnership/interest/dividend slips
$10 each -  min               30
  - Limited Liability Partnerships min each
60
Schedule 5 – Equivalent to spouse
15
Schedule 6 - Infirm dependents 18 or over - no income
20
  - With income - $25.00 per dependent
25
Schedule 7 - (86 to 92) Child and Fed Tax Credit
10
 Schedule 7 - (1994 up) RRSP Pension Rollovers & unclaimed
contributions                               35
Schedule 8 - CPP on self employed income
10
Schedule 9 - Donations and gifts  (straight receipts min)
15
 Schedule 10 - Refundable Medical Expense Supplement
     (typically because of time)
50
 Schedule 11 - Tuition and Education Amounts - (min per school)
25
T1C - Renter's Tax Reduction
10
T1C - Provincial Political Tax Credit
10
T1C - Venture Capital Credit  per VCC
35
GST - by hand on green form with copy
15
NR6  Undertaking to file a tax return by a NON RESIDENT
of Canada minimum (no talk)
125
 - (Discussions about) - Large penalties for failure to file this NR6
150 to    300
T1-ADJ    Adjustment Request, plus forms
100
T1A  Request for Loss Carry Back
50
T1E-NR    Support of Non-Resident Spouse/Children
25
T1M  Moving Expense - time - plus
50
  - (Discussions about)
70 to     125
TD2  Tax Deduction Waiver.
25
  - (Discussions about)
75 to     100
TD4  Employment at Special Work Site
35
  - (Discussions about [even if not used]
35 to      75
TL2  Board and Lodging  $50 - (Discussions about)
25 to      50
T400A     Notice of Objection - plus schedules
250
  - (Discussion about [even if no go-ahead]
75 to   200
T626 Overseas Employment Tax Credit
100
 -(Explain/discuss even not used by taxpayer in favour of foreign tax
75 to   100
T664  CAPITAL GAINS ELECTION (not      after Dec 31 1997)
125
  (plus time charge if discussion and other fees for appraisal, etc.)
T657 Calculation of Capital Gains Deduction -
25 to   75
per year carry back - minimum
45
  - Discussions about -
60 to    100
T691  Alternative Minimum Tax -  with MURB, LLP, Movie, T626, etc
45
    - (With explanations -  an additional )
50 to    100
T746 Refund of Excess Contributions to RRSP   (T3012)
75
T776 Statement of Real Estate Rentals
65
  First Year Rentals are surcharged setup of
75
  Last Year rentals are surcharged close out of
75
T777 Statement of Employment Expense Auto only
60
  Auto and Office together
75
  Office Only
60
  Sales Expense only
60
  Auto, Sales and Office together (plus time if?)
125
   (commission sales return with auto, sales
and office in home expenses would be min of)
200
T778 Calc'n of Child Care Expense Deduction
15 to     35
  - ($15.00 would be one child, one or two sitters)
T936 Cumulative Net Investment Loss
50 to   100
AVERAGE
75
  ($20.00 go back one year one item - $75.00 go back
3 years 2 items, etc. - really
by ear  this is extremely difficult concept)
(Discussion to explain)
75 to     125
T2017     Summary of Reserves of Capital Property
50 to   75
T2019     Refund of Premiums Designation Spouse
35
T2029     Waiver in Respect of Three Year Time Limit
50
    - (plus $50 to $200 `explain and discuss situation')
T2030     Record of Direct Transfer (Section 60I)
50
T2033     Record of Direct Transfer (Section 146)
50
T2041    Capital Cost Allowance Schedule Farmers and
Fishermen (complexity ?)                                       50 to
95
T2042     Statement of Farming Income and Expenses
95
T2061     Election to defer by Immigrant
125
  - (plus time to discuss - $100.00 to $350.00)
T2062     Sale by Non Resident
200
  - (plus time to discuss -
100 to   350
US-8288-B U.S.  Sale by Non Resident
150
  - (plus time to discuss) -
150 to   400
T2091     Designation of a Principal Residence
175
  - (plus time to discuss)
50 to    300
  - (all residential houses should be reported - see
Finacial Post article)
50
T2097     Designation of Transfers to an RRSP
50
T2121     Statement of Fishing Income
150
T2200     Declaration of Employment Conditions - Expenses
50
  - (with T777 - $15) (plus discussion time)
50 to  100
T2201     Disability Deduction Certificate
15
T2202     Education Deduction Certificate
15
  (if chased after) -
25 to     50
T2205     Income Out of Spouse RRSP
75
T2220     Transfer of RRSP on Marriage Breakdown
150
T2222     Northern Resident Deduction -
50
  - (if chased after for receipts and amounts) up to
75
T3012  Application for Refund of Excess - Contributions
to an RRSP
75
david ingram’s CEN-TA Group US/Canada Income Tax Services
4466 Prospect Road
North Vancouver, British Columbia
Canada, V7N 3L7
(604) 980-0321 or (604) 980-0499 - David Ingram personal cell number
657-8451 -
FAX to (604) 980-0325 taxman at centa.com - www.centa.com
As with a restaurant menu, the consultant is expected to  charge  the
prices "on the menu", or as with a car repair,  more spark plugs (i.e.
forms) cost more money.  Some forms  like Cumulative  Investment Loss
(T936) have gone up 50%.  This is because of the problems they cause
in the summer.  "Sometimes", the forms will just fall together.  If
that  is the case, the consultant should  limit the charge to no
more than $200 an hour in  March, April. May and June and $125 an hour
in other months.  If that seems  excessive,
please remember, the office takes in 90% of its money in three months
of the year, but provides expensive service 12 months of the year.
real estate immigration income tax expert david ingram RRSP IRA RESP
401K mutual funds experts consultant CKBD 600AM Sundays at 9:00 AM
www.600am.com international preparer preparers consultants
Answers to this and other similar  questions can be obtained free on
Air every Sunday morning.
Every Sunday at 9:00 AM on 600AM in Vancouver, Fred Snyder of Dundee
Wealth Management and I, David Ingram  host a LIVE talk show called
"ITS YOUR MONEY"
Those outside of the Lower Mainland will be able to listen on the
internet at
www.600AM.com
Local calls are taken at (604) 280-0600 and Long Distance calls (BC
only) are taken at 1( 866) 778-0600
Callers to the show are invited to attend free seminars on financial
planning with such specialities as deductible mortgage interest. They
are held at Fred Snyder's Office at 1764 West 7th in Vancouver - (604)
731-8900 for more information.
=========================================
David Ingram's US/Canada Services
US / Canada / Mexico tax, Immigration and working Visa Specialists
US / Canada Real Estate Specialists
4466 Prospect Road
North Vancouver,  BC, CANADA, V7N 3L7
Res (604) 980-3578 Cell (604) 657-8451
(604) 980-0321 Fax (604) 980-0325
Email to taxman at centa.com
www.centa.com www.david-ingram.com
Disclaimer:  This question has been answered without detailed
information or consultation and is to be regarded only as general
comment.   Nothing in this message is or should be construed as advice
in any particular circumstances. No contract exists between the reader
and the author and any and all non-contractual duties are expressly
denied. All readers should obtain formal advice from a competent and
appropriately qualified legal practitioner or tax specialist in
connection with personal or business affairs such as at www.centa.com.
If you forward this message, this disclaimer must be included."
Be ALERT,  the world needs more "lerts"
==============================
This from "ask an income tax and immigration expert" from
www.centa.com or www.jurock.com or www.featureweb.com. David Ingram
deals on a daily basis with expatriate tax returns with:
multi jurisdictional cross and trans border expatriate problems  for
the United States, Canada, Mexico, Great Britain, the United Kingdom,
Kuwait, Dubai, Saudi Arabia, Thailand, Indonesia, Japan, China, New
Zealand, France, Germany, Spain, Italy, Russia, Georgia, Brazil, Peru,
Ecuador, Bolivia, Scotland, Ireland, Hawaii, Florida, Montana,
Morocco, Israel, Iraq, Iran, India, Pakistan, Afghanistan, Mali,
Bangkok, Greenland, Iceland, Cuba, Bahamas, Bermuda, Barbados, St
Vincent, Grenada,, Virgin Islands, US, UK, GB, and any of the 43
states with state tax returns, etc. Rockwall, Dallas, San Antonio and
Houston Texas
Denmark, Finland, Sweden Norway Bulgaria Croatia Income Tax and
Immigration Tips, Income Tax and ImmigrationWizard Income Tax and
Immigration Guru Income Tax and Immigration Consultant Income Tax  and
Immigration Specialist Section 216(4) 216(1) NR6 NR-6 NR 6
Non-Resident Real Estate tax specialist expert preparer consultant
expatriate anti money laundering money seasoning FINTRAC E677 E667
4789 4790 TDF-90 Reporting $10,000 cross border transactions
=========================
Alaska,  Alabama,  Arkansas,  Arizona,
California,  Colorado, Connecticut,
Delaware, District of Columbia,  Florida,
Garland, Georgia,  Hawaii,  Idaho,  Illinois,
Indiana,  Iowa,  Kansas,  Kentucky,
Louisiana,  Maine,  Maryland,
Massachusetts, Michigan, Minnesota,
Mississippi,  Missouri,  Montana,  Nebraska,
Nevada, New Hampshire,  New Jersey,
New Mexico, New York, North Carolina,
North Dakota,  Ohio,  Oklahoma,  Oregon.
Pennsylvania,  Rhode Island,  Rockwall,
South Carolina, South Dakota, Tennessee,
Texas,  Utah, Vermont,  Virginia,
West Virginia, Wisconsin, Wyoming,
British Columbia, Alberta, Saskatchewan,
Manitoba, Ontario, Quebec City,
New Brunswick, Prince Edward Island,
Nova Scotia, Newfoundland, Yukon and
Northwest and Nunavut Territories,
Mount Vernon, Eumenclaw, Coos Bay
and Dallas Houston Rockwall Garland
Texas  Taxman and Tax Guru  and wizzard
wizard - consultant - expert - advisor -advisors consultants - gurus -
Paris Prague Moscow Berlin
Lima Rio de Janeiro, Santaigo
============================
New York, Boston, Sacramento, Minneapolis, Salem, Wheeling,
Philadelphia, Pittsburgh, Atlanta, Pensacola, Miami, St Petersburg,
Naples, Fort Myers, Cape Coral, Orlando, Atlanta, Arlington,
Washington, Hudson, Green Bay, Minot, Portland, Seattle, St John, St
John's, Fredericton, Quebec, Moncton, Truro, Atlanta, Charleston, San
Francisco, Los Angeles, San Diego, Sacramento, Taos, Grand Canyon,
Reno, Las Vegas, Phoenix, Sun City, Tulsa, Monteray, Carmel,
Morgantown, Bemidji, Sandpointe, Pocatello, Bellingham, Custer, Grand
Forks, Lead, Rapid City, Mitchell, Kansas City, Lawrence, Houston,
Albany, Framingham, Cambridge, London, Paris, Prince George, Prince
Rupert, Whitehorse, Anchorage, Fairbanks, Frankfurt, The Hague,
Lisbon, Madrid, Atlanta, Myrtle Beach, Key West, Cape Coral, Fort
Meyers,   Berlin, Warsaw, Auckland, Wellington, Honolulu, Maui,
Kuwait, Molokai, Beijing, Shanghai, Tokyo, Manilla, Kent, Winnipeg,
Saskatoon, Regina, Red Deer, Olds, Medicine Hat, Lethbridge, Moose
Jaw, Brandon, Portage La Prairie, Davidson, Craik, Edmonton, Calgary,
Victoria, Vancouver, Burnaby, Surrey, Edinburgh, Dublin, Belfast,
Glasgow, Copenhagen, Oslo, Munich, Sydney, Nanaimo, Brisbane,
Melbourne, Darwin, Perth, Athens, Rome, Berne, Zurich, Kyoto, Nanking,
Rio De Janeiro, Brasilia, Colombo, Buenos Aries, Squamish, Churchill,
Lima, Santiago, Abbotsford, Cologne, Yorkshire, Hope, Penticton,
Kelowna, Vernon, Fort MacLeod, Deer Lodge, Springfield, St Louis,
Centralia, Bradford, Stratford on Avon, Niagara Falls, Atlin, Fort
Nelson, Fort St James, Red Deer, Drumheller, Fortune, Red Bank,
Marystown, Cape Spears, Truro, Charlottetown, Summerside, Niagara
Falls, Albany
--
No virus found in this outgoing message.
Checked by AVG Anti-Virus.
Version: 7.0.308 / Virus Database: 266.8.4 - Release Date: 3/27/05
-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://www.centa.com/CEN-TAPEDE/centapede/attachments/20050327/162a5a71/attachment-0001.htm

Comments (0)


CEN-TA Cross Border Services - Tax, Visas, Immigration
http://www.centa.com/article.php/UsCaWeekofMon20050321001725.html