Serbinski Accounting Firms

[quote="nelsona"]Geez, where to start... I think your major problem has been filing a 1040NR. Even if neither of you have been living in the US, you should have been filing a joint 1040. You are allowed to by virtue of being cdn (and also by virtue of having spent enough actual days in US ...

I know that 401k deposits (by employee) are taxed as income the year of the deposit but are 401k gains taxable in Canada or are they deferred? How about company matches?

If I'm able to lower the PA by providing the CRA documentation that my company is only matching 50% (as you mentioned), then contributing the 5% to get the 2.5% match would likely be worth it wouldn't it? My yearly PA should then only be 2.5% of my annual income (multiplied by the exchange rate of c...

Thanks again Nelsona. As for transferring the rental income, I'm not sure I understand. Are you saing there was no advantage to splitting that net income? It did allow me to make (and use) an RRSP contribution this year (that I had carried over)... Thanks for the info on PA as well. I have lots of c...

Thanks Mark! Yes, we are both working in the US and living in Canada. If we filed Married Filed Jointly than we both have Fed, State, SS, etc. paid (and I used those numbers) but what happens when we receive a joint refund? Do I just subtract 1/2 that refund from each of our total tax paid in the US...

If my husband and I file as MFJ (both working in the US and living in Canada) how do we determine our total foreign tax paid since we have to file separately in Canada? Divide total paid by two? Sorry, I really couldn't find the answer anywhere!

Ugh... Thanks so much nelsona. The worst part of all this is that we've paid to get our taxes done every year for the past 6 (4 different 'professionals') and no one has ever even brought up the true blue 1040 idea. :( Thankfully, I found this site so at least I know better now. I should probably go...

I have to say, I found this site rather late...but better late than never. I've been working in the US for 6 years, contributing to 401k (for match), having extra taxes taken off and then wondering why I can't contribute to RRSP and get a deduction. :( Anyway, my husband has also been working in th ...