Search found 59 matches

by okinawafl
Wed Jan 19, 2022 11:11 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian Moving to the US on a TN Visa - TFSA Advice
Replies: 12
Views: 358

Re: Canadian Moving to the US on a TN Visa - TFSA Advice

"1. Because you do not meet the SPT, you are not required to consider yourself either a resident or dual status for 2021. This does not change your departure date from Canada, which is still october. So you can merely file a 1040NR for 2021 to avoid any hassle with TFSA." For 1040NR- Sched...
by okinawafl
Fri Jan 14, 2022 9:07 pm
Forum: Canada / United States Tax & Accounting
Topic: Receive prior year self-employed income in 2022
Replies: 12
Views: 115

Re: Receive prior year self-employed income in 2022

Thanks nelsona.
I really appreciated your help.
by okinawafl
Fri Jan 14, 2022 10:06 am
Forum: Canada / United States Tax & Accounting
Topic: Receive prior year self-employed income in 2022
Replies: 12
Views: 115

Re: Receive prior year self-employed income in 2022

I will include the Dec payment in my 2021 T1 departure return for sure because the freelance job was completed before I move to U.S. The U.S. accountant mentioned that if I file 1040NR for 2021, then, the Dec 2021 payment would not need to include. But if I choose to file as dual-resident (1040 for ...
by okinawafl
Thu Jan 13, 2022 10:05 pm
Forum: Canada / United States Tax & Accounting
Topic: Receive prior year self-employed income in 2022
Replies: 12
Views: 115

Re: Receive prior year self-employed income in 2022

hi nelsona I told my u.s. accountant that I don’t need to report the payment I received in Dec 2021 from my self-employed income earned I Canada before I moved to U.S. He said I am a cash basis taxpayer in the US because I had file 1040NR in prior year even I only have W2 for internship income in th...
by okinawafl
Mon Jan 10, 2022 11:17 pm
Forum: Canada / United States Tax & Accounting
Topic: Receive prior year self-employed income in 2022
Replies: 12
Views: 115

Re: Receive prior year self-employed income in 2022

I really appreciate your help nelsona.
I was so worry in the past few days. Thanks again....
by okinawafl
Mon Jan 10, 2022 10:22 pm
Forum: Canada / United States Tax & Accounting
Topic: Receive prior year self-employed income in 2022
Replies: 12
Views: 115

Re: Receive prior year self-employed income in 2022

Thanks nelsona. I just found this post. Before I moved to U.S. in Sept 2021, I only have freelance job from May to August 2021 and all invoices have been issued. For sure, I will include all invoices (include those two overdue invoices) as my self-employed income in my 2021 Canada departure return (...
by okinawafl
Sun Jan 09, 2022 4:41 pm
Forum: Canada / United States Tax & Accounting
Topic: U.U.S. tax - Receive prior year self-employed income in 2022
Replies: 3
Views: 66

Re: U.U.S. tax - Receive prior year self-employed income in 2022

Sorry nelsona. i am not familar. I didn't work for anyone except my employer since sept 2021 when I arrived u.s. the 3.5k if the client pay me back really for the old invoice issued before I left canada (job did and invoicesissed july and aug in 2021). May I ask if this will be treat as my income th...
by okinawafl
Sat Jan 08, 2022 12:15 pm
Forum: Canada / United States Tax & Accounting
Topic: U.U.S. tax - Receive prior year self-employed income in 2022
Replies: 3
Views: 66

U.U.S. tax - Receive prior year self-employed income in 2022

Sorry I wasn't sure if I posted my question last night successfully so just repost it now. I left from Canada to U.S. in Sept 2021 for a job under TN visa. But before I left Canada, I had a freelance that I issued invoices from May - Aug 2021. I stop doing any more freelance then. but unfortunately,...
by okinawafl
Fri Jan 07, 2022 10:25 pm
Forum: Canada / United States Tax & Accounting
Topic: Receive prior year self-employed income in 2022
Replies: 12
Views: 115

Receive prior year self-employed income in 2022

May I get some help. Have few questions: I left Canada to U.S. in Sept 2021 for a job under TN visa. I didn't pass the SPT in 2021 but I will pass SPT this year for sure. Before I left Canada, I have a self-employed income just from "May - Aug 2021" but two of my last invoices "dated ...
by okinawafl
Thu Dec 30, 2021 11:25 pm
Forum: Canada / United States Tax & Accounting
Topic: RRSP and bank accounts reporting requirement in the U.S. return
Replies: 7
Views: 196

Re: RRSP and bank accounts reporting requirement in the U.S. return

Thanks nelsona. I will check with the bank tomorrow asap.

Happy New Year....
by okinawafl
Thu Dec 30, 2021 8:12 pm
Forum: Canada / United States Tax & Accounting
Topic: RRSP and bank accounts reporting requirement in the U.S. return
Replies: 7
Views: 196

Re: RRSP and bank accounts reporting requirement in the U.S. return

Thanks nelsona mentioned the cad address. I total miss it, can I keep the mailing address of my banking documents in Canada so my parent can receive any mail for me just in case? To be accepted by CRA as an Emigrant from Canada, do I have to request the bank to mark Non-resident in my RRSP accounts,...
by okinawafl
Thu Dec 30, 2021 12:42 pm
Forum: Canada / United States Tax & Accounting
Topic: RRSP and bank accounts reporting requirement in the U.S. return
Replies: 7
Views: 196

Re: RRSP and bank accounts reporting requirement in the U.S. return

Thanks nelsona. I have around 8k 401k contribution this year. As a emigrant from Sept this year, can I still contribute to RRSP for my 26k 2021 available contribution room before March next year? So I can use it to deduct my 2021 Canada self employed income earned before I left Canada, and leave the...
by okinawafl
Thu Dec 30, 2021 1:38 am
Forum: Canada / United States Tax & Accounting
Topic: RRSP and bank accounts reporting requirement in the U.S. return
Replies: 7
Views: 196

RRSP and bank accounts reporting requirement in the U.S. return

I just notice that I have a Canada bank account with highest balance of over 50k in 2021 and I also have RRSP around 26k. Do I still only need to report on FBAR or there is other reporting requirements for federal ?

Thanks.
by okinawafl
Tue Dec 28, 2021 6:25 pm
Forum: Canada / United States Tax & Accounting
Topic: Gift Tax
Replies: 9
Views: 244

Re: Gift Tax

"If it is a repayment it is not a gift. There would need to be documentation between you and your mother." Hi nelsona, as for documentation, would an excel spread sheet showing breakdown (date and amount) of tuitions and living expense my mom paid for me in the past few years and the OSAP ...
by okinawafl
Thu Dec 23, 2021 11:04 am
Forum: Canada / United States Tax & Accounting
Topic: Gift Tax
Replies: 9
Views: 244

Re: Gift Tax

Thanks nelsona