Serbinski Accounting Firms

You're very welcome.

Phil

henryu88 wrote:
> Thank you for your information.

Agreed, if you get the treasury rate upon conversion to CAD, that's a great outcome. LJBill wrote: > BeaconHillWealth wrote: > > Most my clients either have their US SS deposited into their Canadian based USD > bank > > account or USD US based back account. They often leave the amounts in USD to > s...

Yes, from what I remember they get filed separately, even using efile. LJBill wrote: > I believe that I can file CRA Form T1135 separately and independently of my > income tax Form T1. Is this correct? > > I will have a CPA produce and submit T1's for my wife and me. But if > possible I would like t...

I'm humbled to hear you would actually watch these, thank you. Yes, I do try to be very careful in the car and only discuss topics I know well to reduce any unnecessary distraction. For anyone interested you can view the podcast here: https://www.youtube.com/philhogancpa Phil nelsona wrote: > While ...

Most my clients either have their US SS deposited into their Canadian based USD bank account or USD US based back account. They often leave the amounts in USD to spend while in the US. However, if you do need to convert try to stay away from using the big Canadian banks. The spread they charge is ma...

To actually make changes to the IRA you'll need to have it managed by an RIA in Canada with a US license. We do this for clients, however due to high demand currently we have minimums. You can try to book here to see if you qualify for a complementary consultation: https://beaconhillwm.ca/contact/ H...

Yes, sounds like you should find someone that specializes in cross-border investments as they got this quite wrong. Phil nelsona wrote: > Were you being withheld at your old firm? > > Indeed, CDn stocks held in an IRA should not be subject to CDn withholding > by Article XXI(2), since IRAs are by de...

Although possible, in most cases it doesn't make sense to transfer an IRA to an RRSP. First, you'll need roughly an amount of Canadian income equal to the IRA transfer and for larger IRAs it would have to be transferred over many years. That can be quite a bit of tax work on the Canadian side. Most ...

To be prudent I always suggest clients do an additional ROTH election for inherited accounts. Phil brianbbc wrote: > Both my wife and I have Roths and made the election with the cra properly. > In the event on one us inherits the others Roth, I know this can be easily > done on the USA side in broke...

This has been a huge issue for clients with Fidelity and other US brokers. Most US RIAs cannot manage taxable accounts for Canadian residents and although the registered plans can stay in the US, they can't be properly managed. Always best to find a cross-border RIA in Canada to help. Phil henryu88 ...

Hi everyone I wanted to send out a big overdue thank you to Nelsona on this board. I honestly do not know who this individual is, however, they have been instrumental in the moderation, replies and activity in this community. I started my professional cross-border tax career in 2005 and the informat...