Search found 80 matches

by coco1106
Mon Jun 24, 2019 11:45 pm
Forum: Canada / United States Tax & Accounting
Topic: reporting thresholds when you are a non US residents
Replies: 5
Views: 29

Re: reporting thresholds when you are a non US residents

Hi Nelsona, thanks We have never filed foreign reporting forms since we did not have any thing to report in Canada.,,,we left Canada 27 years with about $200 in our my purse. I think when we sell the house in USA and transfer funds we may reach the threshold at some point. Although the funds will on...
by coco1106
Mon Jun 24, 2019 9:58 pm
Forum: Canada / United States Tax & Accounting
Topic: reporting thresholds when you are a non US residents
Replies: 5
Views: 29

reporting thresholds when you are a non US residents

https://www.irs.gov/businesses/corporations/summary-of-fatca-reporting-for-us-taxpayers Reporting Thresholds Reporting thresholds vary based on whether you file a joint income tax return or live abroad. If you are single or file separately from your spouse, you must submit a Form 8938 if you have mo...
by coco1106
Mon Jun 24, 2019 9:47 am
Forum: Canada / United States Tax & Accounting
Topic: Gift from foreign relative.
Replies: 2
Views: 29

Re: Gift from foreign relative.

Thank you.

Mom said she will issue a check to my husband , we just intend on depositing the funds into our TD canada acct.
by coco1106
Mon Jun 24, 2019 9:14 am
Forum: Canada / United States Tax & Accounting
Topic: Gift from foreign relative.
Replies: 2
Views: 29

Gift from foreign relative.

My Canadian mother inlaw will gift my husband $50,000 cdn dollars next year ( approx $38,000 us dollars) She said it will a check, and we plan on depositing it into our TD canada bank account. we are dual citizens usa/cdn,........ by that time would have relocated to Canada, would this gift have to ...
by coco1106
Wed Jun 19, 2019 5:03 pm
Forum: Canada / United States Tax & Accounting
Topic: form 8938.....presence test
Replies: 0
Views: 30

form 8938.....presence test

Form 8938 Presence abroad. You satisfy the presence abroad test if you are one of the following. • A U.S. citizen who has been a bona fide resident of a foreign country or countries for an uninterrupted period that includes an entire tax year. • A U.S. citizen or resident who is present in a foreign...
by coco1106
Mon Jun 10, 2019 7:06 pm
Forum: Canada / United States Tax & Accounting
Topic: cost of tax prep usa /cdn
Replies: 0
Views: 62

cost of tax prep usa /cdn

approximately how much do you pay for USA /cdn tax return to be completed by tax professional in Canada ( Toronto area) I know it depends on how complex the return is ,just curious about the cost and how much to expect, ours is not complex, state side we go to a local CPA, cost $250US. Any informati...
by coco1106
Tue May 28, 2019 9:13 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian T1135 Reporting for Part-Year Residents
Replies: 13
Views: 185

Re: Canadian T1135 Reporting for Part-Year Residents

thank you .
we will meet that threshold so we will just file.
by coco1106
Mon May 27, 2019 2:06 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian T1135 Reporting for Part-Year Residents
Replies: 13
Views: 185

Re: Canadian T1135 Reporting for Part-Year Residents

ok, I just got off the phone with CRA ( waited almost 50 mins) I explained the situation about returning to Canada after 25 plus yrs , dual citizenship the whole lot. The lady told me that the exemption for NOT filing T1135 only applies new immigrants to Canada and NOT returning expats, residents li...
by coco1106
Mon May 27, 2019 10:02 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian T1135 Reporting for Part-Year Residents
Replies: 13
Views: 185

Re: Canadian T1135 Reporting for Part-Year Residents

It appears CRA does not make anything easy , like I said everything I read said no filing for the first year, then I started digging deeper which always,always ends in more questions than answers ! We have a appointment with a cross boarder accountant in 2 weeks times, I just wanted to ask him quest...
by coco1106
Mon May 27, 2019 8:33 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian T1135 Reporting for Part-Year Residents
Replies: 13
Views: 185

Re: Canadian T1135 Reporting for Part-Year Residents

Hi, I dont want to seem disrespectful by posting the previous post, but its not clear ,the previous post says returning Canadians have to file T1135 in the yr they return. sorry if I am offending ,that is definitively not my intention, I really appreciate all the tip and great information from this ...
by coco1106
Mon May 27, 2019 12:22 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian T1135 Reporting for Part-Year Residents
Replies: 13
Views: 185

Re: Canadian T1135 Reporting for Part-Year Residents

by nelsona » Wed Apr 26, 2017 4:47 pm skoper, which is it? On your other thread you said you moved to Canada in July 2016. Now you are saying you moved in 2015. As to filing. CRA has clarified that T1135 is not required only in a year when someone moves to Canada. RETURNING taxpayers must still file...
by coco1106
Sun May 26, 2019 9:11 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian T1135 Reporting for Part-Year Residents
Replies: 13
Views: 185

Re: Canadian T1135 Reporting for Part-Year Residents

sorry about not posting that in the first place,

when I read it over it seemed like a the exemption did not apply to returning canadians, but what you mentioned make perfect sense..thanks again.