Tax Planning & Preparation

More Than Filing. Strategic Planning.

Tax preparation is an event. Tax planning is a discipline. At Reid Financial Strategies, we do both — and we make sure neither happens in isolation from the rest of your financial plan.

Whether you are a Canadian resident, a US citizen living in Canada, a business owner navigating corporate taxation, or a family managing multi-generational wealth, your tax situation carries consequences that ripple across every other dimension of your finances. We treat it accordingly.

Canadian Tax Planning & Preparation

Through our partnership with Collective Accounting, we deliver seamless Canadian personal and corporate tax preparation alongside proactive planning strategies — RRSP and TFSA optimization, income splitting, retirement income sequencing, and tax-efficient investment structures. Your tax return is not the end of the conversation. It’s the beginning.

US Tax Preparation & Cross-Border Expertise

Few areas of financial planning are as technically demanding — or as commonly mishandled — as US-Canada cross-border taxation. Colin Reid holds a specialization in this area and is one of a limited number of advisors in Canada equipped to navigate it comprehensively.

We prepare US tax returns for American citizens residing in Canada, address the complex interplay of FBAR filings, PFIC rules, treaty provisions, and foreign tax credits, and help clients bring their US tax obligations fully into compliance without unnecessary overpayment.

Certified Acceptance Agent (CAA)

As a Certified Acceptance Agent recognized by the IRS, Colin Reid is authorized to verify identity documents and assist individuals in obtaining Individual Taxpayer Identification Numbers (ITINs) — without requiring clients to mail original documents to the IRS. This is a meaningful service for US citizens, non-resident aliens, and others navigating the US tax system from Canada.

What We Cover

• Canadian personal and corporate tax return preparation (via Collective Accounting)
• Proactive tax planning: RRSP, TFSA, FHSA, and registered account optimization
• Income splitting and family tax planning strategies
• US individual tax return preparation (Form 1040, 1040-NR)
• FBAR (FinCEN 114) and FATCA compliance
• Foreign tax credit analysis and treaty benefit application
• PFIC (Passive Foreign Investment Company) reporting and strategy
• ITIN applications — Certified Acceptance Agent services
• Departure tax and emigration/immigration tax planning
• Corporate owner-manager tax planning and compensation strategy
• Estate and trust tax considerations