Akif CPA

Akif CPA Our goal is to exceed our client’s expectations by providing exceptional quality services.

07/19/2026

🚨New Video: U.S. LLCs and the T1134 vs T1135 CRA Reporting Trap

📌 T1134 vs T1135 for Canadians with a U.S. LLC—Which One To File?

If a Canadian person owns more than 10% of a U.S. LLC, it is generally treated as a foreign affiliate.

That means instead of T1135, T1134 is often required for proper reporting.

This is where the mistake happens.

A large number of filings end up on T1135 incorrectly when T1134 should be filed.

And when reporting is incorrect or missed:
⚠️ CRA penalties can apply
⚠️ Penalties can be $25 per day late
⚠️ Costs can quickly accumulate into the thousands

The solution is not guesswork.

You need a cross-border accountant who understands how U.S. LLCs are treated under Canadian tax law and can correctly handle T1134 reporting.

Important note:
T1134 is not a simple one-page form—it is a detailed multi-page disclosure with extensive reporting requirements.

The goal is simple: stay compliant on both the Canadian and U.S. sides from the start.

📩 Questions? Email [email protected]



Full Video on the Akif CPA YouTube Channel: https://www.youtube.com/watch?v=nwGVWSqpt_8

Link to the blogpost: https://akifcpa.com/t1134-vs-t1135-the-dangerous-cra-reporting-trap-for-canadian-owners-of-us-llc-on-e-2-or-l-1-visa/

🇺🇸 (713) 451-9700 ⁠
🇨🇦 (416) 800-2709 ⁠
⭐ [email protected] ⁠
🌐 www.akifcpa.com ⁠
⁠
https://www.youtube.com/⁠
https://www.facebook.com/akifcpa/⁠
https://www.instagram.com/akifcpa/ ⁠
https://www.linkedin.com/company/akif-cpa-pllc⁠
https://www.tiktok.com/.cpa

07/18/2026

🚨New Video: U.S. LLCs and the T1134 vs T1135 CRA Reporting Trap

📌 T1134 vs T1135 for Canadians with a U.S. LLC—Which One To File?

A Canadian resident with a U.S. LLC is often reported incorrectly.

In many cases, a Canadian accountant will report the LLC under T1135, which is the wrong form.

Here’s the key issue:

If a Canadian person owns more than 10% of a U.S. LLC, it is generally treated as a foreign affiliate.

That means instead of T1135, T1134 is often required for proper reporting.

This is where the mistake happens.

A large number of filings end up on T1135 incorrectly when T1134 should be filed.

And when reporting is incorrect or missed:
⚠️ CRA penalties can apply
⚠️ Penalties can be $25 per day late
⚠️ Costs can quickly accumulate into the thousands

The solution is not guesswork.

You need a cross-border accountant who understands how U.S. LLCs are treated under Canadian tax law and can correctly handle T1134 reporting.

Important note:
T1134 is not a simple one-page form—it is a detailed multi-page disclosure with extensive reporting requirements.

The goal is simple: stay compliant on both the Canadian and U.S. sides from the start.

📩 Questions? Email [email protected]



Full Video on the Akif CPA YouTube Channel: https://www.youtube.com/watch?v=nwGVWSqpt_8

Link to the blogpost: https://akifcpa.com/t1134-vs-t1135-the-dangerous-cra-reporting-trap-for-canadian-owners-of-us-llc-on-e-2-or-l-1-visa/

🇺🇸 (713) 451-9700 ⁠
🇨🇦 (416) 800-2709 ⁠
⭐ [email protected] ⁠
🌐 www.akifcpa.com ⁠
⁠
https://www.youtube.com/⁠
https://www.facebook.com/akifcpa/⁠
https://www.instagram.com/akifcpa/ ⁠
https://www.linkedin.com/company/akif-cpa-pllc⁠
https://www.tiktok.com/.cpa

07/18/2026

🚨New Video: U.S. LLCs and the T1134 vs T1135 CRA Reporting Trap

📌 Advisor Blind Spot: T1134 vs T1135 Mistake for Canadians with a U.S. LLC

This is what we call an advisor blind spot, and many Canadians deal with it without realizing it.

The issue is simple:

You’re working with professionals on both sides, but neither side is fully equipped for the cross-border situation you’re actually in.

That becomes the root cause of the problem.

Many Canadian residents with a U.S. LLC end up in this situation.

What often happens is this:
A Canadian accountant reports the U.S. LLC under T1135 (foreign asset reporting).

But in many cases, that is incorrect.

If a Canadian owns more than 10% of a U.S. LLC, it is generally treated as a foreign affiliate, which may require T1134 reporting instead of T1135.

This is where the mistake happens.

In practice, many filings end up on T1135 incorrectly when T1134 is actually required.

And when reporting is wrong or missing:
⚠️ CRA penalties can apply
⚠️ Penalties can accrue daily (in some cases $25/day)
⚠️ Costs can quickly add up into the thousands

The solution is not guesswork.

It’s working with a cross-border accountant who understands how U.S. LLCs are treated under Canadian rules and can ensure the correct form (T1134 vs T1135) is filed properly.

📩 Questions? Email [email protected]



Full Video on the Akif CPA YouTube Channel: https://www.youtube.com/watch?v=nwGVWSqpt_8

Link to the blogpost: https://akifcpa.com/t1134-vs-t1135-the-dangerous-cra-reporting-trap-for-canadian-owners-of-us-llc-on-e-2-or-l-1-visa/

🇺🇸 (713) 451-9700 ⁠
🇨🇦 (416) 800-2709 ⁠
⭐ [email protected] ⁠
🌐 www.akifcpa.com ⁠
⁠
https://www.youtube.com/⁠
https://www.facebook.com/akifcpa/⁠
https://www.instagram.com/akifcpa/ ⁠
https://www.linkedin.com/company/akif-cpa-pllc⁠
https://www.tiktok.com/.cpa

07/17/2026

🚨New Video: U.S. LLCs and the T1134 vs T1135 CRA Reporting Trap

📌 Local Canadian Accountant Blind Spot (Cross-Border Reality)

Same situation with the local Canadian accountant.

They typically work with Canadian residents dealing with:
GST, HST, T1 personal returns, and T2 corporate filings.

That’s their core expertise.

But when cross-border structures are involved, gaps appear.

Many are not deeply familiar with:
❌ The U.S.–Canada tax treaty in cross-border scenarios
❌ How a U.S. LLC is treated for Canadian tax purposes
❌ How U.S. income and entities must be reported in Canada
❌ U.S. compliance requirements tied to Canadian ownership

And that creates a problem.

It’s not that they’re unqualified—it’s that this is outside their scope of practice.

They’re not set up for cross-border tax structuring, especially between Canada and the U.S.

This is what we call the Advisor Blind Spot.

You’re dealing with professionals on both sides regularly, but neither side is fully equipped for the combined cross-border situation.

That’s the root cause of many of these tax issues.

📩 Questions? Email [email protected]



Full Video on the Akif CPA YouTube Channel: https://www.youtube.com/watch?v=nwGVWSqpt_8

Link to the blogpost: https://akifcpa.com/t1134-vs-t1135-the-dangerous-cra-reporting-trap-for-canadian-owners-of-us-llc-on-e-2-or-l-1-visa/

🇺🇸 (713) 451-9700 ⁠
🇨🇦 (416) 800-2709 ⁠
⭐ [email protected] ⁠
🌐 www.akifcpa.com ⁠
⁠
https://www.youtube.com/⁠
https://www.facebook.com/akifcpa/⁠
https://www.instagram.com/akifcpa/ ⁠
https://www.linkedin.com/company/akif-cpa-pllc⁠
https://www.tiktok.com/.cpa

07/17/2026

🚨New Video: U.S. LLCs and the T1134 vs T1135 CRA Reporting Trap

📌 Local U.S. Accountant Blind Spot for Canadians

A local U.S. accountant typically treats you the same way they treat any other American or U.S. tax resident.

That’s where the issue starts.

They often have limited understanding of:
❌ The Canada–U.S. tax treaty
❌ Canadian departure tax rules
❌ RRSP, TFSA, and RESP reporting on U.S. returns
❌ Canadian mutual funds, ETFs, and corporation reporting in the U.S.
❌ Cross-border investment disclosure requirements

As a result, important cross-border reporting can get missed.

And when it gets missed, the penalties can be significant—because the IRS has strict information reporting rules that apply even when there is no immediate tax owing.

They also often don’t understand how a U.S. LLC is treated on the Canadian side, which creates additional reporting gaps.

It’s not about negligence—it’s about scope.

They’re trained for domestic U.S. tax compliance, not cross-border Canadian structures.

That’s where the blind spot happens.

📩 Questions? Email [email protected]



Full Video on the Akif CPA YouTube Channel: https://www.youtube.com/watch?v=nwGVWSqpt_8

Link to the blogpost: https://akifcpa.com/t1134-vs-t1135-the-dangerous-cra-reporting-trap-for-canadian-owners-of-us-llc-on-e-2-or-l-1-visa/

🇺🇸 (713) 451-9700 ⁠
🇨🇦 (416) 800-2709 ⁠
⭐ [email protected] ⁠
🌐 www.akifcpa.com ⁠
⁠
https://www.youtube.com/⁠
https://www.facebook.com/akifcpa/⁠
https://www.instagram.com/akifcpa/ ⁠
https://www.linkedin.com/company/akif-cpa-pllc⁠
https://www.tiktok.com/.cpa

07/16/2026

⏲️ Tax Return Deadline Countdown!⁠
📄 Extended C-Corp Tax Returns⁠
⌚️ Time Left to File: 3 MONTHS⁠
⁠
‼️IF YOU FILED FOR AN EXTENSION⁠
⁠
You only have 3 MONTHS left to file your EXTENDED C-Corp Tax Return! Remember, this deadline is real. You cannot miss it or you will pay significant penalties⁠
⁠
Form 1065⁠
Partnership Tax Return⁠
Due on March 16, 2026⁠
⁠
File for an Extension:⁠
Form 7004⁠
Extends Deadline to September 15, 2026⁠
⁠
‼️ Important: Filing for an extension only moves the filing date! Your taxes were still due on the original due date⁠
⁠
If you need help on your Extended C-Corp Tax Return, shoot us an email at [email protected] with the subject line "Extended C-Corp Taxes: Let's Get This Done!"⁠
⁠
🇺🇸 (713) 451-9700 ⁠
🇨🇦 (416) 800-2709 ⁠
⭐ [email protected] ⁠
🌐 www.akifcpa.com ⁠
⁠
https://www.youtube.com/⁠
https://www.facebook.com/akifcpa/⁠
https://www.instagram.com/akifcpa/ ⁠
https://www.linkedin.com/company/akif-cpa-pllc⁠
https://www.tiktok.com/.cpa ⁠
⁠
A bit about us at Akif CPA: ⁠
We’ve got a crew of talented tax pros who really know their stuff when it comes to taxes, accounting, business advice, payroll, reviews, sales tax audits, and financial planning.

07/16/2026

⏲️ Tax Return Deadline Countdown!⁠
📄 Extended Individual Tax Returns⁠
⌚️ Time Left to File: 3 MONTHS⁠
⁠
‼️IF YOU FILED FOR AN EXTENSION⁠
⁠
You only have 3 MONTHS left to file your EXTENDED Individual Tax Return! Remember, this deadline is real. You cannot miss it or you will pay significant penalties⁠
⁠
Form 1065⁠
Partnership Tax Return⁠
Due on March 16, 2026⁠
⁠
File for an Extension:⁠
Form 7004⁠
Extends Deadline to September 15, 2026⁠
⁠
‼️ Important: Filing for an extension only moves the filing date! Your taxes were still due on the original due date⁠
⁠
If you need help on your Extended Individual Tax Return, shoot us an email at [email protected] with the subject line "Extended Individual Taxes: Let's Get This Done!"⁠
⁠
🇺🇸 (713) 451-9700 ⁠
🇨🇦 (416) 800-2709 ⁠
⭐ [email protected] ⁠
🌐 www.akifcpa.com ⁠
⁠
https://www.youtube.com/⁠
https://www.facebook.com/akifcpa/⁠
https://www.instagram.com/akifcpa/ ⁠
https://www.linkedin.com/company/akif-cpa-pllc⁠
https://www.tiktok.com/.cpa ⁠
⁠
A bit about us at Akif CPA: ⁠
We’ve got a crew of talented tax pros who really know their stuff when it comes to taxes, accounting, business advice, payroll, reviews, sales tax audits, and financial planning.

07/15/2026

⏲️ Tax Return Deadline Countdown!⁠
📄 Extended S-Corp Tax Returns⁠
⌚️ Time Left to File: 2 MONTHS⁠
⁠
‼️IF YOU FILED FOR AN EXTENSION⁠
⁠
You only have 2 MONTHS left to file your EXTENDED S-Corp Tax Return! Remember, this deadline is real. You cannot miss it or you will pay significant penalties⁠
⁠
Form 1065⁠
Partnership Tax Return⁠
Due on March 16, 2026⁠
⁠
File for an Extension:⁠
Form 7004⁠
Extends Deadline to September 15, 2026⁠
⁠
‼️ Important: Filing for an extension only moves the filing date! Your taxes were still due on the original due date⁠
⁠
If you need help on your Extended S-Corp Tax Return, shoot us an email at [email protected] with the subject line "Extended S-Corp Taxes: Let's Get This Done!"⁠
⁠
🇺🇸 (713) 451-9700 ⁠
🇨🇦 (416) 800-2709 ⁠
⭐ [email protected] ⁠
🌐 www.akifcpa.com ⁠
⁠
https://www.youtube.com/⁠
https://www.facebook.com/akifcpa/⁠
https://www.instagram.com/akifcpa/ ⁠
https://www.linkedin.com/company/akif-cpa-pllc⁠
https://www.tiktok.com/.cpa ⁠
⁠
A bit about us at Akif CPA: ⁠
We’ve got a crew of talented tax pros who really know their stuff when it comes to taxes, accounting, business advice, payroll, reviews, sales tax audits, and financial planning.

07/15/2026

⏲️ Tax Return Deadline Countdown!
📄 Extended Partnership Tax Returns
⌚️ Time Left to File: 2 MONTHS

‼️IF YOU FILED FOR AN EXTENSION

You only have 2 MONTHS left to file your EXTENDED Partnership Tax Return! Remember, this deadline is real. You cannot miss it or you will pay significant penalties

Form 1065
Partnership Tax Return
Due on March 16, 2026

File for an Extension:
Form 7004
Extends Deadline to September 15, 2026

‼️ Important: Filing for an extension only moves the filing date! Your taxes were still due on the original due date

If you need help on your Extended Partnership Tax Return, shoot us an email at [email protected] with the subject line "Extended Partnership Taxes: Let's Get This Done!"
⁠
🇺🇸 (713) 451-9700 ⁠
🇨🇦 (416) 800-2709 ⁠
⭐ [email protected] ⁠
🌐 www.akifcpa.com ⁠
⁠
https://www.youtube.com/⁠
https://www.facebook.com/akifcpa/⁠
https://www.instagram.com/akifcpa/ ⁠
https://www.linkedin.com/company/akif-cpa-pllc⁠
https://www.tiktok.com/.cpa ⁠
⁠
A bit about us at Akif CPA: ⁠
We’ve got a crew of talented tax pros who really know their stuff when it comes to taxes, accounting, business advice, payroll, reviews, sales tax audits, and financial planning.

07/14/2026

🚨New Video: U.S. LLCs and the T1134 vs T1135 CRA Reporting Trap

📌 U.S. Immigration Attorney Role vs Tax Reality

US immigration attorneys have one primary objective: getting you the visa (E-2 or L-1).

They will often say:
💬 “Form an LLC—it’s the fastest, easiest, safest way to qualify for the E-2 visa.”

And from an immigration standpoint, that recommendation can make sense.

But here’s the gap:

Do they understand how this structure is taxed on the Canadian side?
Do they know what CRA forms need to be filed?
Do they understand cross-border reporting requirements?

In most cases, they don’t.

And that’s not their role.

They are not responsible for tax planning or tax compliance.

So what happens is:
They set up the structure for immigration approval, and everything moves forward—but the tax implications are often not addressed.

Taxation is simply not their focus, and you’re not paying them for tax advice.

📩 Questions? Email [email protected]



Full Video on the Akif CPA YouTube Channel: https://www.youtube.com/watch?v=nwGVWSqpt_8

Link to the blogpost: https://akifcpa.com/t1134-vs-t1135-the-dangerous-cra-reporting-trap-for-canadian-owners-of-us-llc-on-e-2-or-l-1-visa/

🇺🇸 (713) 451-9700 ⁠
🇨🇦 (416) 800-2709 ⁠
⭐ [email protected] ⁠
🌐 www.akifcpa.com ⁠
⁠
https://www.youtube.com/⁠
https://www.facebook.com/akifcpa/⁠
https://www.instagram.com/akifcpa/ ⁠
https://www.linkedin.com/company/akif-cpa-pllc⁠
https://www.tiktok.com/.cpa

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