Search found 16 matches
- Tue Feb 04, 2025 7:08 pm
- Forum: Canada / United States Tax & Accounting
- Topic: CRA determination as non-resident backdated
- Replies: 3
- Views: 709
Re: CRA determination as non-resident backdated
I was tax resident for both Canada/US. I am planning to only refile Canada. US is still fine as I reported all Canadian rental income in it. Yes, as non-resident I was suppose to deposit 25% of gross income. There would be some penality but looking at tax saved on US income, it is worth paying those...
- Tue Feb 04, 2025 1:13 pm
- Forum: Canada / United States Tax & Accounting
- Topic: CRA determination as non-resident backdated
- Replies: 3
- Views: 709
CRA determination as non-resident backdated
Hi, I am Canadian citizen and had sent letter to CRA in Oct 2024 to determine my tax status in Canada. I live and work in US while my wife and kids live in Canada. CRA replied last month that Tax status in Canada is non-resident back dated (March 2022). I had paid taxes on my US income to Canada in ...
- Wed Dec 11, 2024 1:56 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Roth IRA for Canadian Factual Resident
- Replies: 2
- Views: 1926
Roth IRA for Canadian Factual Resident
Hi All, Thanks for all wonderful input on cross border taxation issues in this forum and special thanks to 'Nelson'. Just want to highlight one specific scenario and seek your advise. -I am Canadian citizen but also a US GreenCard holder who work/live in US. -Also Canadian tax resident because of st...
- Wed Mar 01, 2023 6:05 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Determining Canadian tax residency status
- Replies: 8
- Views: 2645
Re: Determining Canadian tax residency status
nelsona wrote:
> You would only fill line 2, since this is NOT a defined benefit plan, it is
> a money purchase plan.
Thanks Nelsona ... Turbotax do not support RC268 and asking to file by mail. Is there a software which allow e-file of RC268
> You would only fill line 2, since this is NOT a defined benefit plan, it is
> a money purchase plan.
Thanks Nelsona ... Turbotax do not support RC268 and asking to file by mail. Is there a software which allow e-file of RC268
- Tue Feb 21, 2023 7:22 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Determining Canadian tax residency status
- Replies: 8
- Views: 2645
Re: Determining Canadian tax residency status
Thanks Nelsona. I am filing up form RC268 for 401k deduction. This form is of two pages. Second page is "Prescribed amount". Not sure I need to fill second page too. My 401K is through employer and called "401K Saving plan", but this page talks about employer contribution to &quo...
- Tue Feb 21, 2023 4:39 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Determining Canadian tax residency status
- Replies: 8
- Views: 2645
Re: Determining Canadian tax residency status
Thanks Nelsona. 1) From US perspective, the day I leave US and return is counted as US presence. Hence technically I spend only 1 day in week in Canada. I keeping track of my entry/exit in sheet so that same can be used during my US Citizenship presence requirement (3 years out of 5 years). 2) Since...
- Tue Feb 21, 2023 4:29 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Determining Canadian tax residency status
- Replies: 8
- Views: 2645
Re: Determining Canadian tax residency status
Thanks Nelsona. 1) From US perspective, the day I leave US and return is counted as US presence. Hence technically I spend only 1 day in week in Canada. I keeping track of my entry/exit in sheet so that same can be used during my US Citizenship presence requirement (3 years out of 5 years). 2) Since...
- Tue Feb 21, 2023 2:43 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Determining Canadian tax residency status
- Replies: 8
- Views: 2645
Determining Canadian tax residency status
Hi, I see that Canada simply do not go by 183 days rule to determine if one is tagged as tax resident or not. Even if you are less than 183 days in canada, Significant residential ties can still tag one as "tax resident". I have primary house, rental properties, wife and kids, bank account...
- Mon Feb 13, 2023 8:39 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canada/US tax resident - filing first time for both
- Replies: 5
- Views: 2398
Re: Canada/US tax resident - filing first time for both
nelsona wrote: > Once you satisfy US tax residency by treaty, you are no longer considered > Cdn tax resident. What *dependents* are in canada? Economic ties in canada > don't count.' Let's establish that first. Hi Nelsona, I have dual status. I consulted two cross border tax accountant last year an...
- Mon Jan 30, 2023 11:32 am
- Forum: Canada / United States Tax & Accounting
- Topic: Canada/US tax resident - filing first time for both
- Replies: 5
- Views: 2398
Re: Canada/US tax resident - filing first time for both
Hi Nelson, Looking forward for some help from you.
- Sun Jan 29, 2023 8:55 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canada/US tax resident - filing first time for both
- Replies: 5
- Views: 2398
Canada/US tax resident - filing first time for both
Hi, I am US GreenCard holder and work and live in US. I have my family, multiple rental properties, primary residence, car, bank accounts, RRSP etc in Canada. Since my relationship to Canada is strong, I am also considered tax resident of Canada. I moved to US in March 2023 and this is first time wh...
- Mon Feb 28, 2022 8:51 am
- Forum: Canada / United States Tax & Accounting
- Topic: Factual resident vs deemed non-resident
- Replies: 3
- Views: 1750
Re: Factual resident vs deemed non-resident
Thanks Lilylam, but what about my strong ties to Canada. Does US-Canada tax treaty override strong ties to Canada?
- Sat Feb 26, 2022 4:10 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Factual resident vs deemed non-resident
- Replies: 3
- Views: 1750
Factual resident vs deemed non-resident
Hi, If Canadian citizen working and staying in US on green card (staying more than 183 days .. no commute) and have strong ties to Canada (Spouse, kids, Primary residence, rental properties, bank account, credit cards), now under US-Canada tax treaty, will be considered factuall resident OR deemed n...
- Mon Feb 14, 2022 11:25 am
- Forum: Canada / United States Tax & Accounting
- Topic: Moving to US on green card. RRSP, RESP, rental properties
- Replies: 5
- Views: 1949
Re: Moving to US on green card. RRSP, RESP, rental properties
HI Nelson, My question is more about being tax resident of US while maintaining RRSP, RESP and rental properties in Canada.
- Mon Feb 14, 2022 9:52 am
- Forum: Canada / United States Tax & Accounting
- Topic: Moving to US on green card. RRSP, RESP, rental properties
- Replies: 5
- Views: 1949
Re: Moving to US on green card. RRSP, RESP, rental properties
Hi, I forgot to mention that when I was in US, my employer filed my GC in Oct 2012. Date is current now and that is the reason I am going back to US as Employer refused to do consular processing.