Serbinski Accounting Firms

One more information, my accountant said I should use my effective tax rate on the 1040 as the foreign tax rate, because CRA will only accept that as to calculate the foreign tax rate credit. However, it totally doesn't make sense to me as my total income include employment income (56%) as well as c...

Hello all, I have a question regarding how to claim the foreign tax credit on my Canadian tax return. Here's my situation: I transferred back to Canada in November 2024 from the US within the same company, after working in the US for the last 10 years. For my 2024 tax return, I will file a US tax re...

Do you recommend for me to submit a R74 form before filing the 2024 tax?

Thanks!! Do you think CRA will ask me anything if I submit my new comer return for 2024 this year, cause I am not sure whether I can get much information from IRS for something that long, I only keep my IRS tax information for 6 years.

Thanks so much for the information, can you provide more of your thought about this
"Nothing that CRA would be able to do with this information in any event."

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I am a Canadian with working visa in US. I returned to Canada to work in 11/2024 after living in US since 2005. I filed for non-resident status around 2005. I was back in Canada briefly from late 2013 to early 2014 while awaiting a new work visa. As I prepare my 2024 tax return, my CPA checked my CR...

Thank you very much for the answer!!

Hello everyone, thanks in advance for your help, My wife and I are both Canadian citizens. I moved to the US on H1B/TN status around 2004, and later after getting married, my wife moved to the US on H1B around 2005. We both filed as non-residents with CRA at that time. About 7 years ago, my wife and...