Search found 5 matches
- Wed Feb 24, 2021 2:41 am
- Forum: Canada / United States Tax & Accounting
- Topic: First year US resident tax filing
- Replies: 0
- Views: 12129
First year US resident tax filing
Hello, Fellow Canadian here working on a TN visa in California and have met the substantial presence test for 2020. I think I have become a US resident for tax purposes and have been really stressed about my situation and paranoid of IRS penalties (I’ve read numerous horror stories) . If anyone coul...
- Wed Mar 04, 2020 1:07 am
- Forum: Canada / United States Tax & Accounting
- Topic: Confirming US-Canada Tax Filing 2019
- Replies: 4
- Views: 3629
Re: Confirming US-Canada Tax Filing 2019
Couldn't seem to find the edit button.
4. I also don't think I need to file FBAR this year since i'm not a US resident yet.
4. I also don't think I need to file FBAR this year since i'm not a US resident yet.
- Wed Mar 04, 2020 1:04 am
- Forum: Canada / United States Tax & Accounting
- Topic: Confirming US-Canada Tax Filing 2019
- Replies: 4
- Views: 3629
Confirming US-Canada Tax Filing 2019
Hello, i am a Canadian citizen from Vancouver and worked in Canada throughout the year with a presale condo that is not yet closed (planning to assign to parents to reduce headache), but left in September 2019 for the US (California) to work under TN Visa. I wanted to confirm my tax situation and th...
- Sat Feb 22, 2020 2:19 am
- Forum: Canada / United States Tax & Accounting
- Topic: Rental Property operating at a loss in Canada while working in the US
- Replies: 4
- Views: 3760
Re: Rental Property operating at a loss in Canada while working in the US
Hi Nelsona,
1. Yes you are correct. What I mean by taxed on worldwide income is on the USA side. They could be taxing my rental income from Canada.
2. Yes, I am aware of the 25% of the gross rental income. I will need to file the NR6 and NR4 to reduce this to the net amount.
1. Yes you are correct. What I mean by taxed on worldwide income is on the USA side. They could be taxing my rental income from Canada.
2. Yes, I am aware of the 25% of the gross rental income. I will need to file the NR6 and NR4 to reduce this to the net amount.
- Thu Feb 20, 2020 1:10 am
- Forum: Canada / United States Tax & Accounting
- Topic: Rental Property operating at a loss in Canada while working in the US
- Replies: 4
- Views: 3760
Rental Property operating at a loss in Canada while working in the US
Hello, My situation is as follows: I own a condo in Vancouver, BC but will be working in the US for the next few years. Since I am working in the US, I will be taxed on worldwide income. However, my costs (mortgage, insurance, HOA fees, property manager) exceed my rental income. 1. I'm wondering how...