Serbinski Accounting Firms

Got it. Thanks

To confirm, I am showing the income to the US, but deferring the taxability of it under the Tax treaty?

I should add that the stock in question was a US firm and sold to a US firm. So, if me going south of the border to open an account is the best solution, I guess I can do that also. There would be no (little) capital gain to report to CRA and I would do so anyway.

Ok, so I file the annual US disclosure listing all my foreign accts that I have in my name/spouse name or am director of. I would assume adding details of a trust would be the same.... thus my question of , is there more than that. I am a USA citizen working in Canada. I have some non traded stock f...

Sorry to jump on this thread but you said something that intrigued me. "The rules have always been -- since 1985 - that you EITHER deferred ALL income, or you paid tax on ALL income. " As a USA citizen, is it better for me to NOT defer the income I put into my RSP; that is pay taxes on tha...

Ok, one follow up here. I have been told that the matching money is NOT placed in the RRSP and instead in a Pension. I have the capability to move money around in investments in that pension. After I leave the firm, I can keep the Pension or it will go into a LIRA (locked in retirement account) and ...

Good point. I don't think I will need to back down, though. The original problem is because I only worked 20% of 2015. With my match and adding the 8k, I think I will be right at the limit for 2016. I will go over with my RRSP guy when he calls me back and ensure I don't end up here again.. Thanks

Alas, my real estate equity tied up in the USA. I'm Renting here as buying too expensive - to buy where I am at would cause a 2-3x increase over rent. Paying the 1% penalty per month might be my best option (as I make 100% return with match) given I would only pay it on 8k for 6 months or so. I am s...

Thanks Nelson. I appreciate your responses. I have not gotten a TFSA but was thinking about it. However, given more forms required (3520), I shall stay away. Side note: I had to fill out form form 5471 for several years because we owned a foreign corp and it was very onerous. I will contact my trust...

Can we treat the earnings of the TFSA as tax protected then since not tax deferred (similar to Roth IRA)? Note, I have not invested in a TFSA but will have some money to invest since I will be stopping RRSP immediately (see below). CRA wanted to know how much I made PRIOR to my move here, (which I h...

frustrated as this is truncating. just say my online teaching is less than 10k and my full time job working for a Canadian entity is greater than 100k.....

sorry for multiple posts.

Line still truncated
- Owns real estate in USA - earns < 5k net per year,
- works (part time) for USA university online = earns <10k>100k per year

Sorry, one line got truncated.
Owns real estate in USA - earns < 5k net per year, works (part time) for USA university online = earns <10k>100k per year

About me: US Citizen worked outside of USA since late 2011, moved to Canada Oct 2014 to work for a Canadian company which is wholly owned by a US based firm. Contract is Canadian, here on NAFTA work permit Owns real estate in USA - earns < 5k net per year, works (part time) for USA university online...