https://www.nwtax.ca/blog daily 0.75 2023-11-10 https://www.nwtax.ca/home daily 1.0 2025-10-24 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643215134413-FRK2X6M76WSI3V9HYHHW/maple-leaf.jpg Home https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643215193627-2X5EOEC0K7U7YS8DP7YY/5%2Bpoint%2Bstar.jpg Home https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643215227918-NK1JT194C4CX9WZ3DOY5/consulting.jpg Home https://www.nwtax.ca/canadian-tax daily 0.75 2023-11-10 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1642002975541-26MV8DBB7OUP7RPE9JVS/unsplash-image-OaD5um45Cik.jpg Canadian Tax https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1642002994924-I0UTPF7WM3YBNG1O96EA/Business.jpg Canadian Tax https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1642007036202-GWELWLD2U5EH3NDHN125/5911896_lN2cAUxsAUnJcBI2zt028ThcGZofMWwP9rZIbzJE2TQ.jpg Canadian Tax https://www.nwtax.ca/canadian-businesses daily 0.75 2023-11-10 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643848031051-RXDBFNO3JK6LO8XVJTMJ/unsplash-image-csYYwITO9WU.jpg Canadian Businesses When engaging in a Canadian business, most corporations will need to address at least three types of tax: income tax, payroll tax and sales tax. Our team is skilled in all of these areas and can take the stress out of staying current on your filings. Some of the common filings we work on are as follows: T2 Canadian corporate tax returns GST/HST and PST returns including providing technical guidance on the appropriate rates and where returns need to be filed Payroll withholding tax remittance and reporting (including T4 slips) Calculation of tax credits including credits for apprenticeships, SR&ED activities, foreign tax credits, etc. Assistance with reporting foreign investments on Form T1134 and Form T1135 (including calculations of surplus balances and FAPI) Preparation of tax elections including Section 85 rollovers, capital dividends, change of year-end, etc. Wondering if we might be a good partner for your business? Contact us for a free consultation on the filing requirements for your business and an upfront quote of your annual fees. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643915074822-ZANWB8DJJC8Q1P73Q78Q/unsplash-image-n-HWbSU3xD0.jpg Canadian Businesses Non-residents engaging in business in Canada have share many of the compliance requirements of Canadian resident corporations, however, there are also many unique tax aspects that require the advice of an international tax expert. Our team can help! See below for a list of some of the ways we can help your business: Filing annual T2 Canadian corporate tax returns Preparing annual treaty declarations Assisting in branch tax calculations and reporting Preparation of business withholding tax waivers (Reg 105) Preparation of payroll withholding tax waivers (Reg 102) Assistance with cross-border GST/HST issues Withholding tax calculations, remittances, and reporting (NR4) Contact us below for a fee consultation of what types of filings may be required for your business. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1644250600191-PWCICIB6D4ZKNEG8AJ12/unsplash-image-eWqOgJ-lfiI.jpg Canadian Businesses When it comes to working internationally, making a profit is only the first step. Next you have to figure out how to get that profit back home. Developing an effective repatriation strategy involves reviewing the tax rates in the various jurisdictions, having a detailing understanding of the various withholding tax regimes, and capitalizing on the differences in how each jurisdiction taxes different types of income and different types of businesses. Our team has years of experience in developing effective plans to get your money back home. Contact us to see how we may be able to help your business. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643915699989-8FALMHQBMGCQZ9BY5LSK/unsplash-image-o8iiemkOrrY.jpg Canadian Businesses Doing business internationally inevitably leads to having your employees work internationally. Working abroad brings complex filing requirements and often requires the employer to compensate the employees for the additional taxes they pay in the foreign jurisdiction. Our team is experienced in assisting employers ensure that their payroll liabilities around the world are satisfied, helping their employees file their global tax returns, and calculating the required amount to compensate employees for the additional foreign taxes they pay. Contact our team to see how we may help your team in working abroad. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643915200290-VMUIBLMB08EXWBHOE7X7/unsplash-image-0nOP5iHVaZ8.jpg Canadian Businesses When a company chooses to do business in Canada there are many important decisions that need to be made: Should the business operate as a branch or as a subsidiary company? What type of structure is best for the business objectives (partnership, corporation, unlimited liability company, etc.)? How should the various owners own their interest in the Canadian business? How will the Canadian company interact with its foreign parent? These are all questions that we can help answer by educating you on the implications of each of these choices and helping you to select the right one for your situation. Contact us below for a free consultation. https://www.nwtax.ca/u-s-individuals daily 0.75 2023-11-10 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1644466574816-8UZRHE7X96GWVYS6Z1P7/unsplash-image-bAA06m4O7co.jpg U.S. Individuals The United States is the only developed country in the world that taxes on the basis of citizenship. This system of taxation has exposed U.S. citizens and permanent residents around the world to annual U.S. filing requirements. Because they live worldwide, many of these U.S. citizens and residents have complex foreign reporting requirements associated with their income and assets from around the world. Fortunately our team is well-versed in assisting with these complex filings. Here are a few of the ways we can help: Preparation of U.S. 1040 - Personal Tax Return Preparation of FBAR and Form 8938 to report foreign financial assets Preparation of Form 5471 to report an interest in controlled foreign corporations and to calculate taxes under both the GILTI and Subpart F deemed income provisions. Preparation of Form 8865 to report an interest in a foreign partnership. Preparation of Form 8858 to report an interest in a disregarded entity. Preparation of Form 8621 to report investment in passive foreign investment companies (PFICs). This form is typically required for Canadian mutual funds, ETFs, and REITS. Preparation of Form 3520 and Form 3520A to report an interest in foreign trusts / ownership of foreign trusts. This form is typically required for Canadian trusts as well as Canadian TFSA accounts. Preparation of 962 Elections to mitigate the income inclusion as a result of GILTI. To determine what filings may be required for your situation, click below to request a consultation. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643847177708-195L2VITKCCQG7TQX86F/unsplash-image-pGcqw1ARGyg.jpg U.S. Individuals U.S. citizens are required to formally renounce their citizenship to cease their tax filing requirements in the U.S. Similarly, U.S. green card holders are required to formally surrender their permanent resident card. In both cases, your net worth, tax liability from previous years, and annual income will determine if your U.S. tax obligations cease or if there will be some substantial tax resulting from your expatriation. Our tax professionals can assist you in building a plan to depart the U.S. without needing to worry about the IRS following you home. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643917286123-EH12H4YNNB3FYQV1BXVY/unsplash-image-FRGNhs86rdE.jpg U.S. Individuals There are many situations where non-residents may have to file a U.S. tax return. They may work there, do business there or have a rental property. Sometimes it is something as innocent as spending too many days in the U.S. on vacation. Our team can help for all of these situations. Here are a few cases where our help may be needed: Preparation of Form 1040NR to report U.S. sourced employment, rental or business income Preparation of Form 1040NR to recover excess taxes withheld on U.S. pensions or investment income Preparation of Form 8840 to report a closer connection to Canada (to avoid deemed U.S. residency) Preparation of Form W8-BEN to report entitlement to benefits under a tax treaty Preparation of Form 8288-B to request a reduction of withholding tax on the sale of U.S. real estate. To determine what filings may be required for your situation, click below to request a consultation. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643682831543-IKJ9HEVXNJD344MLV9NY/unsplash-image-UGi_Ng56FRI.jpg U.S. Individuals Before moving to the U.S., planning is needed to ensure you don’t have any unexpected tax costs when you depart your country of residence and to ensure the tax efficiency of your business and investments while living in the U.S. Some of the items to consider when planning your move are as follows: How to appropriately sever your ties in the country from which you are emigrating What date to pick for your move to the U.S. Whether elections should be made to take advantage of the standard deduction in your year of immigration Whether income can be managed in the year of immigration to have it taxed in one country versus the other Whether your existing corporate holdings in the country from which you are emigrating should be maintained or restructured Our tax professionals have helped many in developing a plan for immigration and are available to help you with your situation as well. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643916939972-AZNOOFDKOR9TN6Z93O70/unsplash-image-mokWXKenVoY.jpg U.S. Individuals Both U.S. citizens and green card holders are required to file annual personal income tax returns with the IRS. There are additional reporting requirements for taxpayers that own non-U.S. investments and non-U.S. companies and failure to file these forms carries significant financial penalties. Many U.S. citizens residing abroad are not aware of the many complex filing requirements involved in their U.S. taxes and they may find out after the fact that their returns were not prepared correctly. Fortunately, Taxpayers who do not have significant taxes outstanding can catch-up on their deficient filings under the streamlined tax filing program which will waive the penalties for qualifying taxpayers. Our tax professionals have helped many clients determine their eligibility to use these programs and will assist you in completing the necessary submissions. No situation is too complex. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643917124268-ZMRBS7Z5XSY7AXEGWIGQ/unsplash-image-wHaQ4XJ9SgY.jpg U.S. Individuals In the U.S., instead of having a deemed disposition of assets on death, the IRS taxes citizens on the Value of their worldwide estate at the time of death. Fortunately, there are significant lifetime exemptions available to allow many to avoid paying any estate tax. This exemption is subject to change thereby requiring estate planning to be constantly re-examined and re-planned in connection with changes in laws and net worth. Our team can help with some of the following aspects of estate tax: Filing Form 706 or Form 706-NA to report the value of the estate and calculate any estate tax. Planning for U.S. citizens to mitigate the estate tax Establish bypass trusts to shelter assets from estate tax Asset restructuring for non-residents to eliminate U.S. estate tax. Contact us below to see how we can help plan your estate. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1644250850386-ESKNWMBRJUS243K2PYMG/unsplash-image-jXxdtXFEjcc.jpg U.S. Individuals You may have heard of the “183-day rule” and infer that if you spend less than 183 days in the U.S. you will avoid being deemed a U.S. resident. This is incorrect, the 183-day rule is a calculation based on the days spent in the U.S. over the last 3 years. Ultimately, you could create U.S. tax issues if you are consistently spending 120 days or more in a year. Our tax professionals can help by reviewing your days to determine if there is a U.S. filing requirement and assist you in completing the necessary forms to prevent deemed residency if you go over the 120 day limit. https://www.nwtax.ca/other-consulting daily 0.75 2025-01-14 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643944605846-271V8429TAPE41N7GZ9U/unsplash-image-fteR0e2BzKo.jpg Other Consulting https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643944635480-C2I0IDOUFYO372WDD43E/unsplash-image-wHaQ4XJ9SgY.jpg Other Consulting https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643944694601-YBW4JK5J0H4BZ53389SQ/unsplash-image-asviIGR3CPE.jpg Other Consulting https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643944762378-VWA756RFBU2BVQYLRFOZ/unsplash-image-TrhLCn1abMU.jpg Other Consulting https://www.nwtax.ca/canadian-individuals daily 0.75 2023-11-10 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643585778493-LWX0L4XVHLVKW1ATU63B/unsplash-image-nC4UOLMPkXY.jpg Canadian Individuals Taxes in Canada are no simple matter. Our team of tax experts can help you navigate the complexities of your Canadian personal tax filings. For your convenience, we have included a list of some of the situations we often assist in: Preparation of your annual Canadian T1 personal tax returns Reporting income and gains on international investments Completion of foreign reporting forms T1135 (disclosure of foreign investments) and T1134 (disclosure of foreign subsidiary companies) Calculating foreign tax credits Performing equalization calculations for employees working abroad Responding to CRA foreign tax audits and reviews https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643585877586-BGU0XEZ09NXM8AC3VZTJ/unsplash-image-OoiWpdFC0Rw.jpg Canadian Individuals A move to Canada should not be taken lightly. Canadian tax rates are amongst the highest in the developed world and failure to properly plan in advance can be costly. As part of your move you should be careful to examine some of the following factors: 1) What sort of income will I have before and after immigration? 2) Do I have any opportunity to manage the timing of my income? 3) What will be the impact on my assets? Do I have an exit strategy? 4) Do I have an existing business? Will the business require restructuring to properly operate in the Canadian tax environment? Our team can provide answers to these questions and ensure that your move to Canada is a resounding success. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643585815136-VOZR3PE81HM5I9SU3SYG/unsplash-image-RSYBi_1fhfM.jpg Canadian Individuals You’ve had a great time in Canada but the time has come to explore the opportunities that await abroad. Leaving Canada is not a simple process and often comes at great cost. Fortunately, with careful planning these costs can be mitigated. As part of planning for your departure from Canada, our team can assist in examining some of the following issues: 1) Do I have an opportunity to manage the timing of my income? Recognizing income after you have left Canada may result in significant tax savings. 2) What sort of assets do I own? To what extent will these be subject to Canadian tax on the deemed disposition upon departure? 3) Have I maximized my RRSP and TFSA contributions before leaving Canada? 4) Do I have an existing business? Have I considered how the business may need to change as a result of my departure from Canada? Have I developed an exit strategy for the business? The members of our team have helped hundreds of clients find answers to these questions. Let us develop a plan for your situation. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643585949193-XBI1EGZ1NIZ6FVLX5XWS/unsplash-image--ryDtcapIas.jpg Canadian Individuals Canada has many opportunities for individuals from abroad looking for a place to work and invest. Our team can help educate you on your Canadian tax responsibilities in Canada and can handle any filings you may need help with. Some of the items we commonly work on are below: Section 216 Elective Personal Tax Returns to report your Canadian rental income Section 116 Certificates to reduce withholding tax on the sale of Canadian real estate Non-Resident Personal Tax Returns to report Canadian employment income, Canadian business income or gains on the sale of Canadian real estate NR4 forms to calculate and remit withholding tax paid by non-residents on Canadian investment income https://www.nwtax.ca/contact-us daily 0.75 2024-12-30 https://www.nwtax.ca/careers daily 0.75 2024-01-03 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1644245682524-23896LC42JSU0ZOUBIJZ/unsplash-image-Sj0iMtq_Z4w.jpg Careers - Welcome to Our World Our firm was founded on the principles of teamwork, transparency and fairness. We have all come from the world of large accounting firms where you have to “pay your dues” and “do your time” before you can progress in your career. At our firm we focus on working together to build a better team and provide a no-nonsense approach to career progression. Read on to see some of the ways that we are unlike all other firms. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1644245926142-M848DXAFERAQ96ZA4PZ9/unsplash-image-Zyx1bK9mqmA.jpg Careers https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1644246044134-3RP1SKU22IIXNA4G0QNP/unsplash-image-joqWSI9u_XM.jpg Careers https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1644246294679-GOQNN23BAV2ALP8LYT9V/unsplash-image-mlPU2YwFOY8.jpg Careers https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1644246570809-FS53Y2TIGSFC1KVDRPQH/unsplash-image-5i0GnoTTjSE.jpg Careers https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1644247408006-NN61JVPUDDTL3SFYF3OK/unsplash-image-SIU1Glk6v5k.jpg Careers https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1644248024368-F21L96Y3423XI5N2HE8A/unsplash-image-lenAl8NXOr4.jpg Careers https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1644248276108-YF53OO6XTVPDN5CKVMQY/unsplash-image-9Gs0qk9Z3WU.jpg Careers https://www.nwtax.ca/justin-hoffman daily 0.75 2025-07-02 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/dd4dd2ae-dadd-40f7-b6ae-152159ef000a/Justin+-+Candid2.jpg Justin Hoffman Justin has spent more than a decade in providing clients, both personal and corporate, with innovative solutions to cross-border tax and estate issues. His wealth of experience and keen interest in solving complicated tax matters has earned him a reputation as one of the leaders in his field. Before founding Northward Tax Professional Corporation, Justin worked as the leader of the cross-border tax group at a prominent regional accounting firm in London, Ontario. Justin was soon recognized by his fellow professionals for the quality of his tax advice and his willingness to help other accountants and lawyers. As a result, he quickly became a ‘go-to’ advisor for cross-border tax and estate planning and regularly provides expert advice to accounting and law firms around the world. Tax is no simple matter, and building the knowledge to effectively practice tax in more than one country requires a lifetime commitment. Justin has embraced this challenge by spending the past 16 years studying the many aspects of cross-border taxation including completing the three-year CPA Canada In-Depth Tax Program, the CPA Canada International In-Depth Tax Program, and a Masters Degree in Taxation (MST) at Golden Gate University in San Francisco. Justin also recognizes the importance of community and has fostered the next generation of tax talent through the six years he spent as an associate professor of taxation at Western University’s King’s College in London, Ontario and his ongoing involvement with STEP Canada where he has served as the chair of the London Chapter of STEP in 2020, 2021, and 2022. While not assisting clients and fellow professionals with tax, Justin enjoys spending time with his wife and four children with many early mornings dedicated to hockey and soccer practice. Justin also enjoys all manners of woodworking and can often be found working on improvements around his home as well as building bookshelves, desks and cabinets for his friends and family. Education Master of Science of Taxation (MST with high honors) — Golden Gate University (2021) CPA Canada International In-depth Tax Course - CPA Canada (2019) Trust and Estate Practitioner (TEP) — Society of Trust and Estate Practitioners (2015) Licensed Certified Public Accounts (CPA (Illinois)) — American Institute of Certified Public Accountants (2015) CPA Canada In-depth Tax Course - CPA Canada (2014) Certified Financial Planner — Financial Planning Standards Council (2013) Chartered Professional Accountant (CPA, CA) - Institute of Chartered Accountants of Ontario (2012) Bachelor of Commerce (BComm) - University of Alberta (2009) Recognition and Awards Valedictorian and Governor General Academic Medal (2005) STEP Top Score for Canada on the Law of Trust Diploma Exam and the Taxation of Trusts and Estates Diploma Exam (2013, 2014) Gerald W. Owen Book Prize for Highest Overall Score in the 2015 STEP Diploma Program Finalist (Top 5) for Young Practitioner of the Year in the 2016 International STEP Private Client Awards London Magazine’s Top 20 under 40 for 2019 Contact E-MAIL: justin.hoffman@nwtax.ca PHONE: 519-800-2777 x110 https://www.nwtax.ca/tommy-nguyen daily 0.75 2026-01-09 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/08112988-0087-45bb-a548-fadd727b5cab/Tommy+-+Candid2.jpg Tommy Nguyen Tommy joined our team in 2022 and through his expansive tax knowledge and commitment to client relationships he earned the title of Senior Tax Manager in 2025. He benefits our team with his skill in audit and assurance and its related corporate tax work. His career in public accounting began while working for a full-service accounting firm where he worked his way through a variety of roles. Those included tackling assignments in business solutions and in audit where he was responsible for planning, preparing and leading audits, reviews and compilation engagements. Tommy received a Bachelor of Commerce in Accounting Degree from London-based Fanshawe College where his academic achievements earned him a place on the President’s Honour Roll. He built on his accounting expertise by obtaining his Chartered Professional Accountant (CPA) Ontario designation in 2020 and his U.S. Certified Public Accountant designation with the State of Illinois in 2023. He is completed the CPA Canada In-Depth Tax Program where he developed his tax skills for the next generation of tax planning. When he’s not hitting the books, Tommy can be found trying out new restaurants, binge-watching Netflix or playing board and video games. Education CPA Canada In-Depth Tax Course - CPA Canada (2021 - 2024) Certified Public Accountant (Illinois) (2023) Chartered Professional Accountant - CPA Canada (2020) Honors Bachelor of Commerce - Accounting - Fanshawe College (2014 - 2018) Recognition and Awards President Honors Roll - Fanshawe College (2018) Contact E-MAIL: tommy.nguyen@nwtax.ca PHONE : 519-800-2777 x113 https://www.nwtax.ca/u-s-investors daily 0.75 2023-11-10 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643922599681-BT8A6V697SMPFNJ2NVAU/unsplash-image-A3DPhhAL6Zg.jpg U.S. Investors Regardless of the value of the property, you can still optimize the way you will hold the property before you buy. There are multiple options available and selecting the right one depends on your objectives for the property. Changing the way you hold the property can provide benefits such: Allowing you to avoid withholding tax on the sale Eliminating personal U.S. tax exposure Preventing U.S. estate tax issues Allowing the rental losses to be claimed against your other sources of income Our tax professionals will ensure that the tax structure you select is the optimal choice for your new purchase and can help you out with any of the required tax filings once the investment is in place. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643938741014-K4KNAAGY0T94S99ITS29/unsplash-image-IUitg35kAH0.jpg U.S. Investors There are many complex U.S. tax rules meant to prevent tax-avoidance through the use of foreign corporations. These rules can make it very difficult for new investors to correctly calculate and report the U.S. tax implications associated with their investment in the foreign company. Our team has a wealth of experience in calculating the required income inclusions under the GILTI, Subpart F and Section 956 rules and can assist in the preparation of the associated Form 5471s. We are also able to help provide tax planning strategies for mitigating the taxes triggered by the various U.S. international tax rules. Contact us today to see how we can help you get the most out of your foreign investments. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643924032256-R3ARF3KUQXCF2TRRS3TG/unsplash-image-IT6aov1ScW0.jpg U.S. Investors When investing in the U.S., the ideal structure will depend on how the company will operate and the what aspects of the tax plan are most important to the investor. Here are some of the objectives that proper tax structuring can deliver: Anonymity for the investor Preventing taxable benefits from being assessed for personal use Eliminating withholding tax on sale Allowing the flow-through of income Minimizing estate tax Maximizing tax deferral Our team can help you define your objectives and pick the right structure to achieve them. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1644250964353-91IDKZIALTPR6I7NO5P7/unsplash-image-3JVPKS0PrMI.jpg U.S. Investors Investing in non-controlled companies foreign companies carries a unique set of issues not experienced by Americans who invest in wholly owned operations. The biggest hurdle often faced in investing abroad is the “passive foreign investment company” (PFIC) rules. Under these rules holding an investment in a passive foreign investment such as a holding company, mutual funds, or ETF can carry significant reporting obligations and substantial tax costs. There are many elections that can be taken advantage of to mitigate these taxes such as the QEF election, the mark-to-market elections, deemed disposition elections and tax deferral elections. Our team is experienced in working with these complex filings and can help you navigate the complex tax landscape associated with investing abroad. https://www.nwtax.ca/pricing daily 0.75 2025-12-30 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1641691912301-35UOEGAOXJ3KEYF6RFUN/unsplash-image-3lJMJ3g37IE.jpg https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643213977961-XBBII22LQYAUQBHF0GDR/maple-leaf.jpg Pricing https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643214051215-PMWO1UF6WCUE5S96JY6I/5%2Bpoint%2Bstar.jpg Pricing https://www.nwtax.ca/canadian-investors daily 0.75 2023-11-10 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643922215269-GLNT634XG87FIEYV355X/unsplash-image-QibVt4TcPQ4.jpg Canadian Investors When you invest in Canadian real estate, you become subject to a variety of Canadian tax implications. Here are some of the ways we can help: Assisting with Canadian withholding tax payments and reporting for rental income Supporting your HST/GST reporting on commercial rentals Requesting a reduction of withholding tax based on net rental income Preparation of Section 216 elective Canadian tax returns to report rental income Preparation of Section 116 clearance certificate for sale of Canadian real estate https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1644249547017-YPWTVV4O3EE86IGB8N3F/unsplash-image-2EVJTOrmZZs.jpg Canadian Investors When investing in a Canadian company, the ideal structure will differ greatly depending on the nature of the company and the type of income that it earns. Once the appropriate structure is chosen, there are many Canadian tax filings that will need to be addressed. Our team can help you through the tax planning, tax compliance and eventual divestiture of your investments. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643922169943-GT4JJTGZKEJJ1V1E98V9/unsplash-image-dSBJv66Yjlk.jpg Canadian Investors Investing in foreign countries can bring tax surprises if not planned carefully. Our team can analyze your planned investment and help you find a tax plan that achieves your objectives. Here are just a few of the things we can help with: Planning for the utilization of investment losses Determining the characteristics of the investment income and the taxation of that income Developing a plan for the repatriation of income Assisting in completing the required tax reporting in both the foreign jurisdiction and in Canada https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643921669347-VAPKMMA24826EL36CTO0/unsplash-image-OtqaCE_SEMI.jpg Canadian Investors Acquiring a significant stake in a foreign corporation brings unique opportunities to Canadian investors but along thrusts them into the specialized laws and regulations associated with investments in “foreign affiliates”. We can assist in interpreting these laws to help with the following: Annual disclosures for the foreign company on Form T1134 Calculations of deemed income inclusions under the foreign accrual property income (FAPI) rules Tracking of surplus balances (which ultimately determine how dividends from the affiliate are taxed) Preparing a strategy for repatriating the profits from the foreign corporation https://www.nwtax.ca/nadia-circelli daily 0.75 2025-07-02 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643257717263-A820KL68GJ6VDPJAQ1I3/Nadia+-+Candid+Photo.jpg Nadia Circelli - Nadia has spent nearly twenty years helping clients with their tax and accounting needs. Nadia is known in the community for her commitment to going over and above to help those she works with and has consequently earned unequaled loyalty from her many long-time clients. Nadia has a deep desire to find the best outcomes for those she works with and is valued for her unparalleled organizational ability which she puts to work in keeping track of the changes in the lives and businesses of her clients. Nadia often surprises our team and clients with her photographic memory of people’s names, birthdays, business affairs and deadlines. This awareness of what has happened in the past and what will need to be done in the future makes Nadia the “secret ingredient” in our excellent client experience. Before leaving her previous firm to help found Northward Tax Professional Corporation, Nadia’s worked as a cross-border tax manager at a mid-size regional accounting firm. Nadia’s area of practice focuses on Canadian and U.S. personal and corporate tax compliance. Nadia is an excellent resource for those looking to navigate the complex tax filings associated with living and doing business across borders and for helping to put together a compliance plan for those who need a helping hand in keeping track of what needs to be done. Nadia has demonstrated her cross-border professional expertise by being designated as a Chartered Professional Accountant (CPA, CGA) and an Enrolled Agent with the IRS and through her enrolment in the CPA Canada In-Depth Tax Program. She has further diversified her expertise by studying accounting at the University of Windsor where she obtained her Bachelor of Commerce degree and at Kings College of the University of Western Ontario where she studied finance and economics and ultimately received a Bachelor of Arts degree. Nadia gives back to her community through her ongoing involvement as the finance chair on two local not-for-profit boards. She values family above all else and can often be found spending time baby-sitting her niece and nephews and attending brunches and dinners with all of her family (and extended family). Education Chartered Professional Accountant (CPA, CGA) – CPA Canada (2014) Enrolled Agent – Internal Revenue Service (2017) CPA In-depth Tax Course – CPA Canada (2020-2022) Bachelor of Commerce – University of Windsor (2003) Bachelor of Arts – Kings College (University of Western Ontario) (2001) Contact E-MAIL: nadia.circelli@nwtax.ca PHONE: 519-800-2777 x111 https://www.nwtax.ca/u-s-businesses daily 0.75 2023-11-10 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643686075517-C12IXU23NNKD47VIV0OU/unsplash-image-9wXvgLMDetA.jpg U.S. Businesses Your home country may require additional tax planning before expanding into different provinces or jurisdictions, such as changing the sales tax rate that you charge or changing your withholding amounts. The U.S. takes this notion to the extreme as they have 50 different States all of which have their very own tax systems. Determining in which States your business has reporting requirements in can be a very difficult task. Our tax professionals are familiar with the nexus requirements for each State and can help you determine your business’ exposure to State tax. Additionally, our directors are well networked and maintain business relationships with local accountants in many States providing you with access to the specialized knowledge each jurisdiction requires. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643919669507-UQ6IY69CNIMMZ6TVF55G/unsplash-image-ybjFaZZQ0uc.jpg U.S. Businesses Doing business in the U.S. requires a business-owner to navigate a myriad of federal and state income tax, payroll and sales and use tax laws. Our team is experienced in complying with these complex tax laws and regulations. Here are a few ways we can help: Preparation for Form 1120 - U.S. Corporate Income Tax Return or Form 1065 - U.S. Partnership Tax Return Preparation of State income/franchise tax returns Preparation of Form 5472 - Information Return of a 25% Foreign-0wned U.S. Corporation Advising on U.S. payroll tax and assisting with the filing of U.S. payroll slips (W-2, Form 1099-NEC, etc.) Advising on sales and use tax Request a consultation below to find how we may be able to help your business stay on top of its U.S. tax complaince https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643919741750-S1RC1FH3UAFLH7GBFKW3/unsplash-image-GqGgPA2swJA.jpg U.S. Businesses Non-residents engaging in business in the United States share many of the compliance requirements of U.S. resident corporations, however, there are also many unique tax aspects that require the advice of an international tax expert. Our team can help! See below for a list of some of the ways we can help your business: Filing annual Form 1120-F - U.S. Income Tax Return of a Foreign Corporation Preparing annual treaty declarations (Form 8833) Providing commentary and advice on the sourcing of worldwide revenues and the allocation of expenses Assisting in branch tax calculations and reporting Advising on transfer pricing issues Withholding tax calculations, remittances, and reporting (Form 1042-S) Contact us below for a fee consultation of what types of filings may be required for your business. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643938561896-LNH8IWPGWEJ5I92X2NGA/unsplash-image-fteR0e2BzKo.jpg U.S. Businesses When looking at potential structures for your U.S. operations you will be greeted with options such as C-Corps, S-Corps, LLCs, LPs, LLPs, and LLLPs. It can be overwhelming picking the right structure to accomplish your business goals. Under our method for determining the best structure our team will provide the following: A detailed chart showing the various combinations of U.S. and foreign corporate structures along with the combined tax rates for each structure; A plan for how profits can be repatriated under each structure; and A detailed letter that explains how the structure works along with instructions to your lawyer for the setup of the structure. Contact us today to see how we can help you better structure your business. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643917537591-A5I02EQGSK9SGBKURQ4U/unsplash-image-puRsfnJ-AYg.jpg U.S. Businesses It is common when expanding into the U.S. to send some tenured employees there to grow the business. This introduces many complications with payroll, employee residency, and employee filing requirements. Our tax professionals have cost effective programs that will assist your employees in filing their non-resident U.S. tax returns as well as claiming their U.S. source employment income on their home country’s tax return such that double taxation is eliminated. Additionally, we can help your staff develop the necessary processes required to handle international payroll. Contact us for a free consultation on how we may be able to help. https://www.nwtax.ca/us-tax daily 0.75 2023-11-10 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1642015891558-JCVGGPTB509ENA1XEVBF/Business+US.jpg U.S Tax https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1642018258321-VSGTOAONQHGALRYEZ5HP/Investors.jpg U.S Tax https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1642018299273-99455ERJVNAZJTFX819N/Individual%2BUS.jpg U.S Tax https://www.nwtax.ca/meet-the-team-1 daily 0.75 2026-01-09 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1642042808877-8ME1TTUKIJ57WK8ZC4MQ/Hoffman%2C+Justin+-+Headshot.jpg Meet the Team https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1642042867997-THID0WMQUFXQDG0OH42A/Nguyen%2C+Tommy+-+Headshot.png Meet the Team https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643163593716-K4EI8Y4A9YC0RPZQJST7/Nadia.jpg Meet the Team https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/089c5085-7997-416a-a122-b94958c399cb/Hasnaen+-+Headshot.jpg Meet the Team https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/958c8a0d-111e-4ac4-94b3-a87d1efb25d7/Tyriq+-+Headshot.jpg Meet the Team https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/30fcd9a7-3023-41af-b20e-99b1026cff63/Hogue%2C+Joshua+-+Headshot.jpg Meet the Team https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/40fb1fb0-af3d-4ab7-82be-bf68ec290b10/Morozova%2C+Yulia+-+Headshot.jpg Meet the Team https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/7daa59b4-0b46-49d9-8ffd-8b218c431e01/Matt+-+Firm+Photo.png Meet the Team https://www.nwtax.ca/services daily 0.75 2023-11-10 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643213664285-NW797TCPH8GV7XXHXPA7/maple-leaf.jpg Services https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643213704833-K4YBYAXQSCSRJVXJ1XWD/5%25252Bpoint%25252Bstar.jpg Services https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1643213724212-IEIBKFABSDFVC8VCJ14K/consulting.jpg Services https://www.nwtax.ca/aboutus daily 0.75 2024-01-03 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1642118181312-63O9SVUOOSSCF31QX9YI/unsplash-image-NzIV4vOBA7s.jpg About us - The “Handshake” Growing up in a blue-collar family, our founders watched their parents do business with individuals who had lived and worked in the same community for generations. Business was done with a handshake. Trust was important and a handshake was better than any contract. We believe in the importance of trusting the people you work with and knowing exactly where you stand from that first handshake. We live this philosophy by providing an upfront quote before starting any new projects. Once we agree upon the services you will need, our price will not change. No hidden fees, no surprise bills. Just doing what we said we would. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1642122150991-15KMA6U7ETMMVE7LJ979/unsplash-image-tSSB4PL-w-E.jpg About us - Being Generous With Our Time For many professional firms, billable time is a fact of life. Time is money and spending extra time on going the extra mile is rarely always rewarded. At our firm, we have banished time sheets and billable hours. Instead we have built a model where our team is measured by the the care they put into their work not the hours they put in the docket. You can count on us taking the time to make sure your work is done right. https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1642122042916-LZKOGFSLTA67FJBQUNPY/unsplash-image-GTePI6ozZ_8.jpg About us - Never Stop Growing It is a generally accepted practice in accounting to “follow prior year”. This means that if something was good enough last year, it is likely good enough this year. While we certainly appreciate the value of consistency, we also believe that things can always be done better. This is how we put this in practice: 1) Keeping up with the latest technologies to find new ways to improve your experience. 2) Reviewing your situation each year to make sure that we are keeping up-to-date with changes in tax law and identifying any potential tax planning opportunities. 3) Finding efficiencies in how we work allowing us to provide more services without more fees. https://www.nwtax.ca/canadian-pricing daily 0.75 2024-12-30 https://www.nwtax.ca/pricing-1 daily 0.75 2024-12-30 https://www.nwtax.ca/quote-confirmation daily 0.75 2023-11-10 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1642639854035-Q6SFXKKFS51XKPGI3U95/IMG_2413.jpg Quote Confirmation https://www.nwtax.ca/request-a-quote daily 0.75 2023-11-10 https://www.nwtax.ca/consult-confirmation daily 0.75 2023-11-10 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1642639854035-Q6SFXKKFS51XKPGI3U95/IMG_2413.jpg Consult Confirmation https://www.nwtax.ca/request-a-consultation daily 0.75 2025-12-30 https://www.nwtax.ca/client-portal daily 0.75 2023-11-10 https://www.nwtax.ca/make-a-payment daily 0.75 2025-07-02 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1644465019684-OK2ASUN5PWOBJWCAT1IP/unsplash-image-8XddFc6NkBY.jpg Make a Payment https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1644465080193-VCULMI3WKNS3OG5OT8L4/unsplash-image-pz_L0YpSVvE.jpg Make a Payment https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1644465182941-WY3I8MNN36QJGXZWT1CO/unsplash-image-gf8e6XvG_3E.jpg Make a Payment https://www.nwtax.ca/tax-analyst daily 0.75 2023-11-10 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1670015995645-YKEHF23KR27MFMSSJ0WS/unsplash-image-GOMhuCj-O9w.jpg https://www.nwtax.ca/senior-tax-manager daily 0.75 2023-11-10 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1670015995645-YKEHF23KR27MFMSSJ0WS/unsplash-image-GOMhuCj-O9w.jpg https://www.nwtax.ca/senior-tax-analyst daily 0.75 2023-11-10 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1670015995645-YKEHF23KR27MFMSSJ0WS/unsplash-image-GOMhuCj-O9w.jpg https://www.nwtax.ca/tax-manager daily 0.75 2023-11-10 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1670015995645-YKEHF23KR27MFMSSJ0WS/unsplash-image-GOMhuCj-O9w.jpg https://www.nwtax.ca/apply-now daily 0.75 2023-11-09 https://www.nwtax.ca/available-positions daily 0.75 2023-11-10 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1671308100805-KO21OYAUTMEU8EAU0WRO/unsplash-image-vGReyBvIX-o.jpg Available Positions https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1671308234963-0N8K5AP0Y2KJEQN4ZD1Q/unsplash-image-_kf2Z44k7Ng.jpg Available Positions https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1671308502855-UBW0M4342HV4AUCBOLAB/unsplash-image-yhq2ymcPlZE.jpg Available Positions https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/1671308711718-ZRQPK1JVDLQU6QPGZYZ5/unsplash-image-m0oSTE_MjsI.jpg Available Positions https://www.nwtax.ca/hasnaen-syed daily 0.75 2025-10-24 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/f59b71d5-5657-436a-bd63-c73102032c9d/Hasnaen+-+Candid3.jpg Hasnaen Syed Hasnaen joined the team at Northward Tax in 2023 after spending the past 7 years honing his accounting skills through his work as the internal accountant for a local business. The required attention to detail and meticulous record-keeping associated with his previous career made him perfectly suited to function as a high-performing tax technician. Before coming to Canada in 2007, Hasnaen previously attended university in Bangladesh where he achieved a Master Degree in Political Science from the University of Dhaka. With this degree, Hasnaen enjoyed a fulfilling career in commercial banking for nearly a decade before moving to Canada in pursuit of a better future for his wife and two children. In Canada, Hasaen certified his degree in political science with the University of Toronto and then completed a diploma in business accounting at Fanshawe College in London, Ontario Hasnaen is fluent in Bangla and English and enjoys spending his free time taking his son horseback riding, hiking the many trails around London and supporting his daughter in her studies at university. Education Master Degree in Political Science - University of Dhaka (1993) Diploma in Business Accounting - Fanshawe College (2010) Contact E-MAIL: hasnaen.syed@nwtax.ca PHONE: 519-800-2777 x120 https://www.nwtax.ca/tyriq-mclean daily 0.75 2025-10-24 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/e8c19a8e-2190-4332-97d1-4d4ff24d3a95/Tyriq+-+Candid+Photo.png Tyriq Mclean Tyriq Mclean joined our team as a tax technician in 2023. Tyriq is currently on the path to achieving a Bachelor's degree with a specialization in Finance within the BMOS program from Western University, with his anticipated graduation date set for April 2024. Committed to his long-term goal of becoming a Chartered Professional Accountant (CPA), Tyriq serves as a tax technician, applying his meticulous attention to detail and analytical skills to decode the complexities of taxation. He is dedicated to keeping pace with the ever-evolving tax landscape to provide our clients with cutting-edge solutions. Outside the office, Tyriq's strategic thinking finds expression in his passion for chess, while his enjoyment of travel exposes him to diverse cultures and cuisines, both of which inform his work. Tyriq brings his passion for tax to work every day and is always excited for the opportunity to assist clients with their tax and financial matters. Education Bachelor’s Degree in Management and Organization Studies (Specialization in Finance) - University of Western Ontario (estimated date of completion - 2024) Contact E-MAIL: tyriq.mclean@nwtax.ca PHONE: 519-800-2777 x121 https://www.nwtax.ca/joshua-hogue daily 0.75 2025-10-24 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/0a1933d3-51bd-4e8d-81f3-e5277c790302/Hogue%2C+Joshua+-+Candid+Photo.jpg https://www.nwtax.ca/yulia-morozova daily 0.75 2025-10-24 https://www.nwtax.ca/matthew-vanderveen daily 0.75 2026-01-09 https://images.squarespace-cdn.com/content/v1/61d0bf033bdc123b96fb4793/0fe63b32-40ae-48ca-b929-dfe3ba0dbbee/Matt+-+Candid+Photo.jpg Matthew Vanderveen Matt joined Northward Tax in January of 2026 as a Tax Manager. Having spent 5 years with a regional firm in both the Assurance and Tax departments, Matt brings a variety of experience in Canadian corporate tax as well as U.S and Canadian personal tax compliance. His affinity for the NYT Crossword and sudokus shows a love of problem-solving, making him the perfect candidate for the complexities of the tax world. Matt passed the CFE in 2023 and received his CPA designation in June of 2024; he is currently continuing his education via the CPA In-Depth Tax Program. When not as his desk, Matt can be found on the golf course, on the ice or watching the Leafs lose yet another playoff series. Education CPA Canada In-Depth Tax Course - CPA Canada (2024 - Continuing) Chartered Professional Accountant - CPA Canada (2024) Bachelor of Commerce - Accounting - Fanshawe College (2016 - 2021) Contact E-MAIL: matthew.vanderveen@nwtax.ca PHONE : 519-800-2777 x114