Serbinski Accounting Firms

Your State W2 income is US-source, meaning it's Federal income too. But assuming you're under 183 days, and have a foreign employer making the payments to you, that income would be Treaty-exempt. The correct way to report that income for Federal purposes is on Schedule OI. It then flows through to L...

I guess the first question would be what's your intent? Are you planning on returning to Canada any time soon? Second, what are your housing ties to Canada? Do you still keep a residence in Canada, or are you exclusively living in the US these days? You'll likely be using Article IV(2) of the Treaty...

Short answer: You have to file Dual-Status.

See instructions for Form 8854 (2023) and Notice 2009-85.

There's no other way to put this: You filed multiple 1040NR's, every year. NR = "NON-RESIDENT." By your own admission, you're a non-resident for US purposes. Separately, you need to crunch the numbers on whether it's beneficial to claim Principal Residence Exemption for Canadian purposes, ...

Functional answer: Ignore it Canada-side. Move on. Textbook answer: Technically a T4 isn't your actual filing obligation, blah blah blah. shembs wrote: > Good day, > > I have been a non-resident of Canada for a couple years now. My ex employer > issued me a T4 for about 900 CAD for some union retro ...

My initial reaction was to laugh and say "No." My think-it-through response: Is Canada issuing you a T4A of some sort, vs. a T4? Pretty hard to turn Canadian employment income (T4) into contractor income (T4A). Plus, your T4 will have CPP/EI withholdings on it etc, which aren't present wit...

Assuming you're over the $10k threshold in assets, then yes you'd need to report that account on your FBAR filing.

FBAR reporting (disclosure) and tax reporting are two different things. Generally-speaking, if you don't receive any income from the GIC, you won't be taxed on it.

Mostly echoing what NelsonA said: 1. No, buying Canadian real estate doesn't de facto make you a Canadian Resident for tax purposes. 2. Welcome to the new UHT reporting regime. (Yes, you'll likely pay tax.) tony wrote: > I've been working in california for x years now (also already paid exit tax > b...

It depends.

Assuming a Canadian corp is paying stuff out (via T5/T3) then they wouldn't receive US Qualified status, as the payor corp isn't a US corporation.

Side-note: Watch your T3's. Chance that there is a PFIC risk. (Assuming Canadian ETF/Mutual Fund is paying out the T3.)

Except that this guy had withholding tax on a T4A-NR. So erroneously had tax withheld. Also will be an issue filing a T1. A non-resident with no permanent establishment/no 183 days (very generally speaking) can't file a refund. A very (poor) equivalent would be a Canadian getting a 1099-INT with US ...

US Tax court rulings since 2019 seem to indicate that 3520's are not needed for TFSA accounts. So don't file them.

The PFIC/8621 stuff is harder. Easy solution is just don't own PFICs. Then no 8621's needed.

If you do want to hold PFICs, hold them in an RRSP. Then you don't need to worry.

From another thread: You were not a Canadian tax resident, but had Canadian-source earned income. So Canada gets first right of taxation. If your TD1 was done right, you shouldn't owe anything additional to CRA, in which case filing 5013-R non-resident return is optional. On 1040, claim FTC/1116 gen...