Serbinski Accounting Firms

Not quite sure I understand the last post.
I guess I don't fully understand the Family Tax Cut program.
If I transfer, say, $50k of income to my wife, I would not be able to use the US tax paid on that income ( prorated, I guess ) as Foreign Tax credit.
I'd expect that, otherwise this would be ...

My Canadian citizen ( only ) wife makes about 60K.
I'm dual citizen residing in Canada commuting to work in US
We are wondering if the current provisions to transfer up to 50k of my income to her, for Canadian Federal tax purposes, would make sense.
I make considerably more than 60K and could use ...

For what it's worth I pay about $2k, that includes Canadian, US returns and FBAR filings. Toronto accountant.
It's deductible in Canada as well.

I commute to work in US so all my income is US.
So I should be able to claim a foreign tax credit for it on CCRA return, just as I do with all my other US taxes paid. Correct?

OTOH, I suppose since this is part of Medicare/FICA I can claim Foreign Tax credit on it?
Would probably work out in end as I end owning CCRA most years.

Thanks.
I have been filing MFS since my wife is Canadian (only ).
The exemption level for the additional Medicare Tax is 250K for MFJ but only 125K for MFS ( 200K single ).
My wife owns RESP for kid, has TFSAs, etc guess that means problems for her if I file MFJ? Understandably she wants nothing to ...

I'm interested in the coverage mandate/tax penalty.
Since I live in Canada and am covered by OHIP, I would like to know if that meets the requirements. I would imagine so or all USC Nonresidents would have this issue, but...I have been wrong before

Dual Citizen Canadian resident commuting to work in US.
Covered by OHIP in Canada.
The ACA (Obamacare ) coverage mandate, are non residents exempted?
Is there a line of the 1040 to reflect this?

Taxation would occur at withdrawl, then - flat 30% if lump sum, ? if pension?

USC resident in Canada commuting to work in USA.
Wife is Canadian citizen ( only ) and Canadian resident.
Currently is beneficiary of my employer 401(k).
Should I die, I imagine tax would be withheld before she could inherit the funds? (Form 1042, and get an ITN? )
How is the tax calculated?
Would ...

Canadian government is supposedly in final stages of negotiating agreement with US such that Canadian financial institutions will be required to collect US citizenship information on their customers, supply it to CCRA, who will supply it to IRS, in support of the FATCA act.
Since we already have to ...

I have a lot of contribution room dating from pre 2008/protocol change, when I didn't contribute to either an RRSP or 401K. Should last me a while.

Seems they do care about the employer match, they use it to make pension adjustment to RRSP limit : "proscribed amount". The RC268 has a section where you have to report the employer contributions.
Makes sense I guess since the 401K deduction limit is your RRSP limit.

You are absolutely correct, lack of Form RC268 was the problem.
Didn't know I needed to file that.

This is my own contributions - deferred salary is the definition...payroll deduction pre-tax.
Surely should be covered by 5th Protcol?