Search found 6 matches

by simkessy
Wed May 09, 2018 12:07 am
Forum: Canada / United States Tax & Accounting
Topic: TN visa holder filing US income tax return
Replies: 7
Views: 1275

[quote] You do of course owe US tax on any of the internal growth of the TFSA, plus may be subject to PFIC tax on the assets within the TFSA. [/quote]

Does internal growth here include "Non-realized capital gains"
by simkessy
Tue May 08, 2018 4:04 pm
Forum: Canada / United States Tax & Accounting
Topic: Tax implications of TFSA if working in US under TN Visa?
Replies: 7
Views: 1153

Yes sorry I meant that I should NOT keep dividend paying stocks in the TFSA. [quote] abide by trust (3520) and FATCA reporting on this account. [/quote] Sounds good, I'll make sure to report them correctly. [quote]you cannot keep any other investment accounts in Canada[/quote] Sorry, so that means I...
by simkessy
Tue May 08, 2018 3:45 pm
Forum: Canada / United States Tax & Accounting
Topic: Tax implications of TFSA if working in US under TN Visa?
Replies: 7
Views: 1153

Hey, Sorry just to be absolutely clear I understand this correctly: If my TFSA has stocks which pay out not dividend but double in value over my time in the US, but I don't sale or make any trades. I will not pay any taxes. But if my position pays out a dividend, I will pay taxes on that dividend or...
by simkessy
Tue May 08, 2018 3:19 pm
Forum: Canada / United States Tax & Accounting
Topic: Tax implications of TFSA if working in US under TN Visa?
Replies: 7
Views: 1153

Hi, [quote]You CAN keep a TFSA when in US, but it does not have tax-free status in US[/quote] When you say it doesn't have a tax free status, is tax incurred only on realized gains or unrealized gains? if I can keep my TFSA and just not realize my gains over my time in the US to avoid capital gains ...
by simkessy
Thu May 03, 2018 9:20 pm
Forum: Canada / United States Tax & Accounting
Topic: Tax implications of TFSA if working in US under TN Visa?
Replies: 7
Views: 1153

Tax implications of TFSA if working in US under TN Visa?

Hi! I'm talking with a friend about working for his company in California, I am based in Ottawa. I would apply for a TN Visa and move down there, ideally. The problem I'm facing is that I have a TFSA account which is maxed out and has a current value of 110K+. I've read that I NEED to liquidate this...
by simkessy
Thu May 03, 2018 1:07 pm
Forum: Business & Personal Immigration to the United States
Topic: Looking to live in the US
Replies: 1
Views: 524

Looking to live in the US

Hi! I'm talking with a friend about working for his company in California, I am based in Ottawa. I would apply for a TN Visa and move down there, ideally. The problem I'm facing is that I have a TFSA account which is maxed out and has a current value of 110K+. I've read that I NEED to liquidate this...