Search found 31 matches

by bluesky
Tue Nov 01, 2022 5:29 pm
Forum: Canada / United States Tax & Accounting
Topic: Filing NR in year of arrival to US impact Canadian residency?
Replies: 2
Views: 3599

Filing NR in year of arrival to US impact Canadian residency?

If I arrive in the US in Sept of 2021, can I file 1040 NR for the whole year and CRA does not recognize me as tax resident after I leave? Or does filing 1040NR for the whole year mean CRA still treats me as a tax resident through rest of 2021 even though I left in September?
by bluesky
Sun Oct 16, 2022 1:37 pm
Forum: Canada / United States Tax & Accounting
Topic: Requirement to file FINCEN/FBAR under 6013 election
Replies: 1
Views: 2884

Requirement to file FINCEN/FBAR under 6013 election

Hi everyone, I'm looking to understand if we as a couple, who became US tax residents from Canada in Sept 2021 but will likely be electing to file MFJ for the entire year under 6013 (not sure if 'g' or 'h'), are required to file FBAR/FINCEN for 2021. Does that change if we file as MFS and choosing t...
by bluesky
Mon Apr 25, 2022 7:56 pm
Forum: Canada / United States Tax & Accounting
Topic: TN extended remote work in Canada
Replies: 44
Views: 17829

Re: TN extended remote work in Canada

nelsona wrote: > First, in addition to the fed tax you won't use the surtax, but you will > use the provincial tax for the province you are in. The instructions on the > non-resident guide tell you to use the province's return, not the non-res > return (ufile might need to be tweaked for this). Seco...
by bluesky
Mon Mar 28, 2022 8:29 am
Forum: Canada / United States Tax & Accounting
Topic: Workcation in Canada as US resident
Replies: 3
Views: 1550

Re: Workcation in Canada as US resident

It's a US employer (management consulting).
Salary could be up to USD20k at a time, up to 40k in total perhaps.
by bluesky
Fri Mar 25, 2022 5:34 am
Forum: Canada / United States Tax & Accounting
Topic: Workcation in Canada as US resident
Replies: 3
Views: 1550

Workcation in Canada as US resident

Hi there, I intend to spend 4-6 weeks this year on a workcation in Canada. I am a Canadian citizen, US resident. Are those 4-6 weeks subject to Canadian income taxes if I'm normally a US resident? If I'm taking vacation days with my US employer for 2 weeks (still getting paid a salary) does that cha...
by bluesky
Fri Mar 04, 2022 6:19 pm
Forum: Canada / United States Tax & Accounting
Topic: Bankruptcy in Canada affecting US?
Replies: 0
Views: 43103

Bankruptcy in Canada affecting US?

Does anyone know if a personal bankruptcy in Canada (former resident) has bearing in the US? I would imagine no, but is there still a risk if there are banking and credit card products that have been switched over (Amex for example allows Canadian card & credit history to apply for a US card).
by bluesky
Mon Feb 21, 2022 10:39 am
Forum: Canada / United States Tax & Accounting
Topic: Earned US income before first day of first year choice period
Replies: 5
Views: 1940

Re: Earned US income before first day of first year choice period

Hi Nelsona, is the following summary correct as far as options for a Canadian: 1) File 1040 (full year). Pros: Can claim standard deductions, especially helpful if filing MFJ. Cons: Have to declare worldwide income for the whole year. 2) File 1040NR (full year) - only possible if you do not meet SBT...
by bluesky
Fri Jan 28, 2022 4:09 pm
Forum: Canada / United States Tax & Accounting
Topic: Earned US income before first day of first year choice period
Replies: 5
Views: 1940

Re: Earned US income before first day of first year choice period

Thanks for the input as always nelsona. When I run my taxes through the software as NR, my tax refund is substantially less, so dual status seems to be optimal (this may be also because I got married last year and my US employer taxed me as single) - still there is a big difference between NR and no...
by bluesky
Fri Jan 28, 2022 2:36 pm
Forum: Canada / United States Tax & Accounting
Topic: Earned US income before first day of first year choice period
Replies: 5
Views: 1940

Earned US income before first day of first year choice period

Hi there, looking for some help on US taxes last year. I started working officially in the US last year in July, but was only in the US for a week before returning to Canada to work remotely for 3 months before then returning to US in September. The first day of my first 31 period (so I can elect fi...
by bluesky
Thu Jun 10, 2021 10:59 am
Forum: Canada / United States Tax & Accounting
Topic: Moving to the US, buying Canadian Property
Replies: 5
Views: 2388

Re: Moving to the US, buying Canadian Property

One additional consideration to remember is BC's vacancy tax on property, even when renting out to non-arm's length parties.
by bluesky
Wed Jun 09, 2021 4:35 pm
Forum: Business & Personal Immigration to the United States
Topic: TN Visa - Management Consultant and Position Title
Replies: 1
Views: 9793

TN Visa - Management Consultant and Position Title

Hi there, my wife and I will be moving to the US this year. I've had a TN visa in the past and will be getting another with the same employer and similar role (I am an actual management consultant). My wife has a title of "Solutions Engineer" but is not an actual registered engineer nor do...
by bluesky
Sun Jun 06, 2021 4:53 pm
Forum: Canada / United States Tax & Accounting
Topic: Moving to the US, buying Canadian Property
Replies: 5
Views: 2388

Re: Moving to the US, buying Canadian Property

Rent out your residence in Canada, and sign year-long leases in US. That will satisfy US residency rules (along with canceling Cdn healthcare, moving account addresses, etc)
by bluesky
Sun Jun 06, 2021 2:08 pm
Forum: Canada / United States Tax & Accounting
Topic: W2 employee living in Canada: basic questions
Replies: 9
Views: 5325

Re: W2 employee living in Canada: basic questions

My partner is in this position. She is paid by a payroll company in Canada (Manpower).
by bluesky
Sun Jun 06, 2021 2:06 pm
Forum: Canada / United States Tax & Accounting
Topic: Converting US funds in Canada
Replies: 2
Views: 3215

Re: Converting US funds in Canada

Norbert's Gambit