Search found 11 matches

by sk8man
Fri Mar 14, 2025 11:12 am
Forum: Canada / United States Tax & Accounting
Topic: Casino Marketing: How Casinos Attract Players and Build Their Brands
Replies: 10
Views: 30350

Re: Casino Marketing: How Casinos Attract Players and Build Their Brands

Casinos have stepped up their marketing game with bonus offers and promotions. I've always found no-deposit bonuses a great way to test different platforms before committing money. The free spins are especially nice since you can try out new slots without risk. It's clear that online casinos use the...
by sk8man
Fri Aug 23, 2024 6:14 am
Forum: Canada / United States Tax & Accounting
Topic: 1042 S Taxwithholding Matching
Replies: 5
Views: 3214

Re: 1042 S Taxwithholding Matching

I had similar issues and found a tax pro specializing in non-residents really helped. They can handle the IRS more efficiently and clarify discrepancies.
by sk8man
Fri Aug 23, 2024 6:08 am
Forum: Canada / United States Tax & Accounting
Topic: dual-status filing full year 1040 and FBAR
Replies: 6
Views: 4667

Re: dual-status filing full year 1040 and FBAR

Yes, if you file a part-year 1040 and keep foreign assets below $10k before becoming a US resident, you won’t need to worry about FBAR. The US-Canada treaty helps with residency but doesn’t affect FBAR rules.
by sk8man
Fri Aug 23, 2024 6:06 am
Forum: Canada / United States Tax & Accounting
Topic: death, taxes and filing requirements
Replies: 5
Views: 4512

Re: death, taxes and filing requirements

Yes, if you have U.S. assets in a Canadian estate, you’ll likely need to file Form 3520 and maybe 3520-A. A professional can help avoid mistakes and penalties, but if cost is a concern, compare the fees of a pro executor versus tax prep costs.
by sk8man
Fri Aug 16, 2024 8:02 am
Forum: Canada / United States Tax & Accounting
Topic: Vape Pod Systems
Replies: 3
Views: 9462

Re: Vape Pod Systems

I've found this: https://nexussmoke.com/products/viho-supercharge-20000-puff-disposable-vape It's the best, honestly. Its system quickly satisfies my nicotine cravings, delivering a satisfying hit. Its efficiency and convenience make it a go-to choice for a quick nicotine fix. For emotional relief, ...
by sk8man
Fri Aug 16, 2024 5:39 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian inheriting traditional IRA
Replies: 13
Views: 7829

Re: Canadian inheriting traditional IRA

You'll face US taxes and Canadian taxes on the funds. The US will likely impose a withholding tax, and Canada will tax you on the income. To minimize tax impact, you might want to transfer the IRA to an account that suits Canadian tax rules or consider rolling it into a similar account with tax defe...
by sk8man
Wed Aug 07, 2024 6:44 pm
Forum: Canada / United States Tax & Accounting
Topic: Us citizen selling selling their home with CDN spouse
Replies: 16
Views: 131763

Re: Us citizen selling selling their home with CDN spouse

Yes, you should report 50% of the gain if you own half the house, so for a $300K gain, you’d report $150K. Regarding the $250K exemption, you’re on the right track. For the tricky bits, consult a tax pro.
by sk8man
Mon Jun 24, 2024 5:13 am
Forum: Canada / United States Tax & Accounting
Topic: Calculating the amount on like 25600
Replies: 7
Views: 5744

Re: Calculating the amount on like 25600

So, for Line 25600, they calculate it based on how many days you worked in Canada versus total work days, using your total income. You can deduct stuff like RRSP, pension, and union dues from your Canadian earnings, but you gotta divvy them up between what you earned in Canada versus the US.
by sk8man
Sun Jun 23, 2024 8:43 am
Forum: Canada / United States Tax & Accounting
Topic: Claiming FTCs for taxes paid on US dividends. Is this correct?
Replies: 16
Views: 7679

Re: Claiming FTCs for taxes paid on US dividends. Is this correct?

Claiming Foreign Tax Credits for US dividends on your Canadian return, even if you haven't paid US taxes yet, is standard practice to avoid double taxation. Amending your Canadian return makes sense now that you're sorting out the details.
by sk8man
Sun Jun 23, 2024 8:21 am
Forum: Canada / United States Tax & Accounting
Topic: Locked-In RRSP
Replies: 6
Views: 5104

Re: Locked-In RRSP

Filing the N73 form to confirm your non-resident status with CRA sounds like the right move to close your RRSP account without Canadian tax issues later on. Just make sure your paperwork is thorough and consider consulting a tax advisor familiar with international tax laws for peace of mind.
by sk8man
Sat Jun 22, 2024 9:16 am
Forum: Canada / United States Tax & Accounting
Topic: Moving back to Canada, tax implications
Replies: 3
Views: 4813

Re: Moving back to Canada, tax implications

If you both become residents of Canada again, you will file taxes based on your worldwide income with the Canadian Revenue Agency. Regarding your rental property in Florida, the depreciation you've claimed while in the US could be subject to recapture rules, and future rental income/loss would be de...