Serbinski Accounting Firms

Sorry if this has been discussed before but I wanted to get a better understanding of FABR.
I am a Canadian citizen currently on H1B. My understanding is that if I have more than $10,000 in my account in Canada, I need to fill out FABR.
Does that mean that I have to pay taxes on that money or is it ...

Upon further discussing this with my American CPA, she told be that gift exclusion amount is $11,585,000. So is the house is less than $11,585,000 I wont be charged any taxes in United States. Is that correct?

Thank you for reply. I have discussed this matter with my CPA in United States and she mentioned that one way of avoiding the tax situation is to "gift" the property to your mother. What is your understanding on that? Can you please elaborate on it? Thank you.

I am currently on H1-B with green card application pending with my employer. I am also a Canadian citizen and declared myself non-resident. I have a family house which I bought before moving to United States and it is now serving as my secondary residence as my parents are living in it in Canada ...

Hello.
I am a Canadian citizen and am currently working in the US on H1B. I started working in 2019 and and requested my non-resident status to CRA starting Jan 2020.
I have a family home in Canada where I grew up and my parents still live there with my siblings but it is under my name with a ...