Serbinski Accounting Firms

Thanks for the clarification.
Sincerely,

Situation: Dual US/Canada citizen residing in the USA. Sold a cottage in Canada with significant capital gain in 2022. Can I offset some of this Canadian capital gain by having a USA capital loss in the same year (2022)? As I pay income tax and capital gain only in USA, I am assuming that it should ...

Thanks

Sorry, my Question was not clear. I was just wondering on when the Tax brackets and rates would be change form the US to the Canadian calculations: the year of returning to Canada?

I just reread the answer….
So…. When one becomes a Tax Resident of Canada - the year of becoming a Resident or the following year?

Sincerely,

Thank you again.

I have a few other question. From what I understand, the year one becomes a resident of Canada (moving from the USA), the entire year of this transition is taxable in the USA, and the subsequent years would be taxable in Canada. I am correct? (Even though, one needs to "declare" him/hersel...

Thanks,
This is really helpful.

Hi there, My wife and I are "dual" citizens (Canadian + USA) and presently US residents. We are planning to move back to Canada. We have a "matrimonial" house in the USA and no other property (in the USA nor Canada). Questions: 1) If we buy a house in Canada before becoming Canad...

Thanks for this important clarification.

We do not have Ontario driving licences nor immatriculations. We are spending most of our time in Canada since the beginning of October and planning to reside mainly in Ontario for the year 2022 (89 days up to now for the year 2022). In respect to the OHIP: I was under the impression that one needs ...

My wife and I are both Canadian Citizens and we have a house, bank accounts, credit card, investment and family in Canada. We moved solely for work in the USA 22 years ago and became US Citizens. Since we move to the USA we spend most of our time in the US. I retired at the end of Sept 2021 and now ...