Serbinski Accounting Firms

I assume for line 2 (amount of contributions that would qualify you for tax relief in the US if you were a resident..) that you would enter the max amount that you could contribute? Example, for 2024 if you were above 50 years old, that amount would be $30,500 USD?

I assume that the MI UI payments would be included.

The reason for the post was to verify.

Any takers?

Thanks in advance.

I was working through a TN visa and the unfortunate happened. I was able to find work through a Canadian employer after the fact also during 2024. I applied and successfully was able to get MI Unemployment Insurance. My question is I assume I have to include the monies received from MI UI on my Cana...

1040.com will efile both Federal and State taxes (City income tax still has to be paper filed but this site will prepare City). Also there is a threshold that if you made $79K or less AGI, the site will prep and efile for free. This is the first year I e-filed and from understanding, W2's do not hav...

Thanks for the reply Nelsona. The software itself does not stop me from leaving 10400 blank (it just highlights that I MUST put the foreign income in first before entering the foreign income into T2209) so I will proceed to leave it blank and still use the foreign income & tax in their respectiv...

"If you have enough time to do this, and depending very much on your tax > brackets before and after retirement, it may be to your advantage to get > your 401(K) into an IRA and then transition it to a Roth IRA, all before > moving to Canada. I believe the transition to Roth will cause an incom...

Good afternoon all and I hope all are well. I am using StudioTax 2023 to file my taxes. I work for a US employer and long story short, they issued Canadians who work for them both a T4 and W2's. The T4 shows all of my wages for 2024 in box 14 converted from US to Canadian dollars. The W2 only specif...

Nelsona, Thank you so much again for your input. Regarding your quote below: "For US, simply report only the wages that were US-sourced on your 1040NR, and use those wages, along with the tax calculated on 1040NR, state tax return, FICA and SS towards your foreign tax credit." My FICA wage...

Revisiting a former thread so I won't create a new one. I purchased some Crypto's in 2022 through Crypto.com (through the Canadian channel) but have not sold any. So to confirm, you don't have to indicate you purchased any Crypto's on the 1040NR (last I remember it was check here if you purchased) r...

After further regarding nelsona's response and based on the comment "Since you live in canada, ALL your income is taxable in Canada, so report all of it on your T1.", I assume I would be able to report 100% of my 401k contributions ($10K ex I gave)?

As always, thank you nelsona. I assume the FTC amounts paid to the US that I would be able to declare 1:1 regardless of wages rather how much I actually paid. Relative to your comment "Remember when determining US-sourced income, to add back any 401(k)-type contributions you made into your wage...

I am a Canadian commuter working for a US employer and for 2022, our employer decided to split our income based on WTF (Canada) and working in the office (US). On the T4 in box 14, they entered the full wages made for the year (converted to Canadian $). For the W2, they entered the US wages earned b...

nelsona wrote: > Your residence status did not really change, so you would continue filing > as you had in the past. > While it is possible that one would leave Canada and then return in the > same calendar year, it would really only be if there was a drastic change > in plans after you left. > Two ...

Good day all. So I am a Canadian citizen that works for a US employer (under a TN visa) and my status would be deemed as a commuter. During 2022, I ended up moving to the US and lived there for 2 months (mid-Jan to mid-Mar) due to my work schedule (change of jobs). I did not inform the CRA of this m...

2021 will be the 3rd time I file a 1040NR. in 2019 I didn't enter either of my children (daughter was 24 at the time and son was 22) as dependents since both of their ITIN's expired in 2015. In 2020, my daughter started working in the US so she received a SSN so I used her with the SSN as a dependen...