Search found 16 matches

by rao_manoj2004
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...
by rao_manoj2004
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 ...
by rao_manoj2004
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...
by rao_manoj2004
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
by rao_manoj2004
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...
by rao_manoj2004
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...
by rao_manoj2004
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...
by rao_manoj2004
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...
by rao_manoj2004
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...
by rao_manoj2004
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.
by rao_manoj2004
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...
by rao_manoj2004
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?
by rao_manoj2004
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...
by rao_manoj2004
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.
by rao_manoj2004
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.