Using Interactive Direct may be a cheap option. I haven't opened an account yet, so don't have first-hand experience.
See:
http://blog.plsoucy.com/2012/11/best-wa ... e-on-fees/
http://blog.plsoucy.com/2013/03/convert ... ers-howto/
Cheers,
Bumble
Search found 16 matches
- Wed Mar 11, 2020 1:50 am
- Forum: Canada / United States Tax & Accounting
- Topic: best way to convert USD to CAD
- Replies: 10
- Views: 6963
- Wed Mar 11, 2020 1:34 am
- Forum: Canada / United States Tax & Accounting
- Topic: B.C. Speculation and Vacancy Tax for returning citizens and new immigrants
- Replies: 0
- Views: 11842
B.C. Speculation and Vacancy Tax for returning citizens and new immigrants
I own a home in B.C. that was rented out the whole time when I was living in the U.S. Last October (2019), I moved back to Canada and re-occupied the home. As I was filing the B.C. Speculation and Vacancy Tax (SVT) declaration a few days ago, I was surprised to discover that while I will be exempted...
- Wed Jun 19, 2019 2:18 pm
- Forum: Canada / United States Tax & Accounting
- Topic: This is about Nelsona ..
- Replies: 5
- Views: 3536
Re: This is about Nelsona ..
Thanks, @nelsona. Merci beaucoup!
- Tue May 28, 2019 1:28 am
- Forum: Canada / United States Tax & Accounting
- Topic: US Citizenship and Immigration nonresidence letter
- Replies: 4
- Views: 2775
Re: US Citizenship and Immigration nonresidence letter
I kind of doubt USCIS would issue such a letter, as this isn't a standard document. Can you provide some other document that indicates your non-resident status, such as an expired work permit or perhaps a copy or transcript of any 1040-NR you have previously filed?
- Fri May 24, 2019 1:40 am
- Forum: Canada / United States Tax & Accounting
- Topic: Declaration of Canadian fund to IRS
- Replies: 7
- Views: 3790
Re: Declaration of Canadian fund to IRS
My interpretation is that you don’t need to report foreign financial accounts that are owned by an international financial institution; however, the financial account where you hold your rental is owned by you, not an international financial institution, so you need to report it in FinCEN Form 114. ...
- Tue May 21, 2019 1:46 am
- Forum: Canada / United States Tax & Accounting
- Topic: Dual tax return filers: Which tax return to file first, and which tax return to claim foreign tax credits?
- Replies: 4
- Views: 3713
Re: Dual tax return filers: Which tax return to file first, and which tax return to claim foreign tax credits?
nelsona wrote: > As I said, any US tax that you pay solely because you are a US citizen, > will not be credited on your Cdn return. You will need to claim these on > your US return, by re-sourcing the income. Non real-estate cap gains are > sourced as Cdn in any event, and US bank interest is not ta...
- Mon May 20, 2019 11:13 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Dual tax return filers: Which tax return to file first, and which tax return to claim foreign tax credits?
- Replies: 4
- Views: 3713
Re: Dual tax return filers: Which tax return to file first, and which tax return to claim foreign tax credits?
Thanks @nelsona for your quick response. I think the tax accountant that gave advice (1) was suggesting what you wrote, but I didn't relay it as accurately as you did. Regarding the one major exception you noted, I promise I won't get into the details regarding the process, but do you mind elaborati...
- Mon May 20, 2019 10:39 pm
- Forum: Canada / United States Tax & Accounting
- Topic: IRAs for non resident citizens
- Replies: 41
- Views: 18805
Re: IRAs for non resident citizens
nelsona wrote: > As was mentioned earlier, I think I got a telephlunkie, who, rather than > admit not knowing and would do research, just gave me a flat canned answer. > That poor customer service was enough for me. Poor customer services are everywhere. I checked with Schwab using online chat last ...
- Mon May 20, 2019 10:18 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Dual tax return filers: Which tax return to file first, and which tax return to claim foreign tax credits?
- Replies: 4
- Views: 3713
Dual tax return filers: Which tax return to file first, and which tax return to claim foreign tax credits?
I'm a U.S. person who is moving to Canada with my wife this summer. Following our move, we expect to have both U.S.-source income and Canada-source income. A question arises regarding how we should sequence our tax return filings and claims for foreign tax credit (FTC) following our move. We've spok...
- Mon May 20, 2019 9:41 pm
- Forum: Canada / United States Tax & Accounting
- Topic: state taxs on IRA distributions for non US resident
- Replies: 16
- Views: 8925
Re: state taxs on IRA distributions for non US resident
coco1106 wrote: > I was concerned about PFIC issues...not that I know much about them, only > that they are toxic for USA citizens ! > > I was not aware that we could have a brokerage account in Canada, I will > certainly research that for sure. > thank you You can certainly have a non-retirement br...
- Sat Apr 27, 2019 8:38 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US Property / CCA Planning
- Replies: 14
- Views: 7656
Re: US Property / CCA Planning
Thanks, @nelsona and @Gilgamesh. I think Gilgamesh's quote could have come from the original 1980 income tax treaty, but nelsona's quote could have come from the 2007's modified version of the treaty. I find an elaboration of this paragraph here: https://hodgen.com/canadian-treaty-relief-double-taxa...
- Sat Apr 27, 2019 2:55 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US Property / CCA Planning
- Replies: 14
- Views: 7656
Re: US Property / CCA Planning
nelsona wrote: > [...] > 2. The treaty allows US citizens to elect to "dispose" of US > property anytime Canada requires a deemed disposition/acquisition, so you > could trigger US "sale" both when you arrive and/or when you > leave, allowing you to mesh your taxes in both countr...
- Fri Apr 26, 2019 3:21 am
- Forum: Canada / United States Tax & Accounting
- Topic: 401k Pension income splitting
- Replies: 17
- Views: 13217
Re: 401k Pension income splitting
Thanks much for the clarification, @nelsona. I was reading your earlier comment: "If you are nota USC, I would stick to splitting Cdn pensions. If you are a USC ans spouse is not, because of the same tax mismatch for Cdn source pensions , I would avoid splitting altogether." (sic) I was th...
- Wed Apr 24, 2019 5:49 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 401k Pension income splitting
- Replies: 17
- Views: 13217
Re: 401k Pension income splitting
I just picked up on the topic of income splitting on some other threads recently but am not following the discussion completely. I understand the concept of income splitting and that FTC can only be applied to the spouse who actually pays the 15% tax to the IRS. But how does U.S. citizenship come in...
- Tue Apr 23, 2019 2:22 am
- Forum: Canada / United States Tax & Accounting
- Topic: IRA management for Canadian residents
- Replies: 10
- Views: 6739
Re: IRA management for Canadian residents
Even if you have something in writing from Fidelity, it doesn't mean they can't change their policy down the road. I understand you'd like to put everything in Fidelity. I would argue it may not be a bad idea to segregate your retirement assets across two or more places to hedge your bets. I'm in a ...