Search found 18318 matches
- Fri Oct 29, 2004 3:30 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Collapsing RSP
- Replies: 7
- Views: 11986
My advice on state issues is the following: Unless you hear otherwise, the treatment is no different. Don't ask your state about it. Don't ask your accountant to ask the state about it. Asking your state about it will only raise the issue to them, as it did in California, with much headaches for RRS...
- Fri Oct 29, 2004 12:08 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Renewing my Driver's License
- Replies: 2
- Views: 5775
- Fri Oct 29, 2004 11:52 am
- Forum: Canada / United States Tax & Accounting
- Topic: Please read/post about RRSP in US Here!!!
- Replies: 59
- Views: 61072
Some relevant documnents: Rev. Proc 2002-23: http://www.unclefed.com/Tax-Bulls/2002/rp02-23.pdf Rev. Notice 2003-75: http://www.unclefed.com/Tax-Bulls/2003/not03-75.pdf and Form 8891 http://www.irs.gov/pub/irs-dft/d8891.pdf Note: This is a draft and will likely move on IRS website. <i>nelsona non gr...
- Fri Oct 29, 2004 10:44 am
- Forum: Canada / United States Tax & Accounting
- Topic: Please read/post about RRSP in US Here!!!
- Replies: 59
- Views: 61072
The rev PROC which Mark refers to is actually Rev. NOTICE 2003-25 and has been supeceded by Rev. Notice 2003-75. Mark's link abour Form 3520 is OLD NEWS and not applicable for 2003 or furure tax years. This applied ONLY to the 2002 tax year, as Form 8891 will be implemented for the 2004 tax year. <i...
- Fri Oct 29, 2004 9:36 am
- Forum: Canada / United States Tax & Accounting
- Topic: Good News for Canadians Living in NJ
- Replies: 3
- Views: 7194
- Fri Oct 29, 2004 8:31 am
- Forum: Canada / United States Tax & Accounting
- Topic: Social Security posts Here please!!!
- Replies: 5
- Views: 6294
Social Security posts Here please!!!
From getting your SSN card, to making sure that you get what's coming to you from Social Security, both now and when you retire, post questions here.
<i>nelsona non grata</i>
<i>nelsona non grata</i>
- Fri Oct 29, 2004 8:29 am
- Forum: Canada / United States Tax & Accounting
- Topic: Car Talk Here - DMV import/export etc!!!!
- Replies: 18
- Views: 20876
Car Talk Here - DMV import/export etc!!!!
Bureaucrats are bureaucrats wherever they may be.
Use this thread to post and find out about importing your car to US, dealing with the DMV, and when you leave, taking the car back with you.
<i>nelsona non grata</i>
Use this thread to post and find out about importing your car to US, dealing with the DMV, and when you leave, taking the car back with you.
<i>nelsona non grata</i>
- Fri Oct 29, 2004 8:26 am
- Forum: Canada / United States Tax & Accounting
- Topic: Please post about US credit/banking issues Here!!!
- Replies: 4
- Views: 11129
Please post about US credit/banking issues Here!!!
Many wonder how to establish credit when moving to US; about getting a mortgage on TN.
Post questions and info on this topic here.
<i>nelsona non grata</i>
Post questions and info on this topic here.
<i>nelsona non grata</i>
- Fri Oct 29, 2004 8:21 am
- Forum: Canada / United States Tax & Accounting
- Topic: Please Post Tax Residency issues here!!!!
- Replies: 0
- Views: 16499
Please Post Tax Residency issues here!!!!
A major concern for Cdns leaving for ythe US or elsewhere, is what to do to make sure that they sufficiently break Cdn residential ties to avoid continued taxation on their world-wice income. This thread will deal with issues regarding NR73, IT-221, and 'deemed' residency/non-residency status. <i>ne...
- Fri Oct 29, 2004 8:17 am
- Forum: Canada / United States Tax & Accounting
- Topic: Please read/post about RRSP in US Here!!!
- Replies: 59
- Views: 61072
Please read/post about RRSP in US Here!!!
We get many questions about handling RRSPs when living in US.
These can be about finding a Cdn broker to hanlde your account, or how to report your RRSP to IRS and state tax agencies.
<i>nelsona non grata</i>
These can be about finding a Cdn broker to hanlde your account, or how to report your RRSP to IRS and state tax agencies.
<i>nelsona non grata</i>
- Thu Oct 28, 2004 5:30 pm
- Forum: Canada / United States Tax & Accounting
- Topic: nelsona non grata ...
- Replies: 2
- Views: 9736
- Thu Oct 28, 2004 5:28 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Collapsing RSP
- Replies: 7
- Views: 11986
As clearly indicated on Rev Notice 2003-75, you report the entire $100K on line 16a, and you report the TAXABLE portion on 16(b). Now, the taxable portion is basically the value of your RRSP when you cash it minus the BOOK value on the day you moved to US. Once that is determined, you can either cla...
- Thu Oct 28, 2004 4:17 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Moving a larger IRA to RRSP
- Replies: 13
- Views: 32689
- Thu Oct 28, 2004 4:08 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Buying Empty Lot in Canada
- Replies: 6
- Views: 11843
A winterized cottage is indeed a problem with respect to Cdn residency, especially if you (a) are a Cdn citizen, (b) have other ties as well and (c) don't rent out the cottage a vast majoroty of the year. If it is not rented out year-round (save a couple of weeks) then it is available to you as a re...
- Thu Oct 28, 2004 2:40 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Moving a larger IRA to RRSP
- Replies: 13
- Views: 32689
russ,. i think you are confusing the 10% penalty as something extra that. If you take out $30K Cdn in IRA money while living in Canada, you Cdn tax will still be more than your US tax including the 10% added tax, so you will be able to take credit for all the US tax you paid including the penalty. D...