Search found 3 matches

by eunicebiz
Tue Nov 29, 2005 2:36 pm
Forum: Canada / United States Tax & Accounting
Topic: Complex tax situation for a Canadian in US on TN
Replies: 7
Views: 8921

Not intending to claim tax for giving gift. Just want to make sure if the house is under my parents name, one day they sale it, pay me back, I won't be taxed again.

Question is how CRA trace tax for gifts? If I write my parents a check now, few years later, they return the money to me, do we have ...
by eunicebiz
Mon Nov 28, 2005 8:28 pm
Forum: Canada / United States Tax & Accounting
Topic: Complex tax situation for a Canadian in US on TN
Replies: 7
Views: 8921

Thank you very much nelsona

Regarding to ques #3 buying a home, what cons and pros if I buy a home under my parents names?

If later on my parents sale the home, pay me back the money, is it considered I am accepting gift from them?

Thanks a lot

by eunicebiz
Mon Nov 28, 2005 3:11 pm
Forum: Canada / United States Tax & Accounting
Topic: Complex tax situation for a Canadian in US on TN
Replies: 7
Views: 8921

Complex tax situation for a Canadian in US on TN

First of all, thanks in advance for any thought/advice. I am a Canadian Citizen, moved to US for a job in Jan under TN. I have a few questions:

1. I only worked in Canada for three weeks this year, I have to file both US and Canadian Tax as a resident for this year. Correct?

2. My parents are ...