Search found 18659 matches

by nelsona
Fri Jul 28, 2006 6:13 am
Forum: Canada / United States Tax & Accounting
Topic: Need Tax advice...
Replies: 1
Views: 2016

Yes. you will begin reporting WORLD income to Canads (and Province) the day you move.
See the "newcomers" guide on the CRA website.

A portion of the taxes you pay in US will be credited on your Cdn tax return.
by nelsona
Tue Jul 25, 2006 8:31 am
Forum: Canada / United States Tax & Accounting
Topic: US Citizen Working in CA
Replies: 1
Views: 2072

If you were working as an employee, then if you made more than $10K Cdn, you need to file in Canada -- as a non-resident -- at least to report and pay tax on those wages.

Generally taxes will be withheld based on working the entire year, so by filing you may get some back.

These wages would be ...
by nelsona
Mon Jul 24, 2006 4:02 pm
Forum: Canada / United States Tax & Accounting
Topic: US corporation, foreign expenses
Replies: 5
Views: 5829

Like I said, you need an accountant.
by nelsona
Mon Jul 24, 2006 4:01 pm
Forum: Canada / United States Tax & Accounting
Topic: canada dependents
Replies: 7
Views: 5947

I didn't say it would 'violate' the support test, I simply said that if the mortgage interst that you pay and property tax that you pay would not be considered an expense that you are paying on their behalf -- you would be paying it on your behalf -- otherwise you would be considered to be renting ...
by nelsona
Mon Jul 24, 2006 2:33 pm
Forum: Canada / United States Tax & Accounting
Topic: US corporation, foreign expenses
Replies: 5
Views: 5829

"per diem" is a very common term and refers to a daily allowance for expenses, rather than submitting receipts.

Your accountant will be able to expalin this to you.
by nelsona
Mon Jul 24, 2006 11:02 am
Forum: Business & Personal Immigration to Canada
Topic: u.s permanent resident wanting to move to canada temporarly
Replies: 3
Views: 7585

No.

A cdn PR doesn't even have to live in Canada for the first 3 years after getting status. There is no permission needed for this.
by nelsona
Mon Jul 24, 2006 10:59 am
Forum: Canada / United States Tax & Accounting
Topic: canada dependents
Replies: 7
Views: 5947

They would still be your dependants. You simply wouldn't be able to use the money you pay for the house in determining whether or not you meet the support test.

You can always claim the mortgage interst and property taxes on this 'second home', so long as it is yours.
by nelsona
Mon Jul 24, 2006 10:55 am
Forum: Canada / United States Tax & Accounting
Topic: TN with two jobs !!!
Replies: 4
Views: 3944

This is a quaetion for a US immigration website, not here.
by nelsona
Mon Jul 24, 2006 10:54 am
Forum: Canada / United States Tax & Accounting
Topic: Proving payment of US tax for Canadian credit
Replies: 8
Views: 5522

8833 is only absolutely needed in a very few instances, and not in this case.

However, attaching one would go a long way in explaining what your are doing and avoid any questions.

The article you would be availing yourself of is XXIV, Elimination of Double Taxation (you would be using several ...
by nelsona
Sun Jul 23, 2006 3:34 pm
Forum: Canada / United States Tax & Accounting
Topic: Question About US Income Tax
Replies: 1
Views: 2076

A transfer of money from one bank to another is never considered income, so why would it be subject to income tax?

However, the interest that that money has been generating, regardless of whethr you bring it to US or not, has been subject to US tax since the moment you got your green card, and ...
by nelsona
Sun Jul 23, 2006 3:30 pm
Forum: Canada / United States Tax & Accounting
Topic: Proving payment of US tax for Canadian credit
Replies: 8
Views: 5522

Form 1116 has "Certain Income Re-sourced by Treaty" but this doesn't appear to be applicable to US bank interest

That is exactly what is it applicable to.

The treaty limits for these income applies to non-residents. and for dividends, pensions, and royalties, that would be the limit. But for ...
by nelsona
Sat Jul 22, 2006 11:06 am
Forum: Canada / United States Tax & Accounting
Topic: H1 in US but staying in Canada.
Replies: 3
Views: 3209

I didn't say you 'have to' be an employee of the Cdn company.

I said that IF one is an employee (of some company, Cdn-based or not) working IN Canada, one must abide by CRA rules for employees, which I outlined.

Whether you work as an employee for ABC US, or ABC Canada, you must be paid as a Cdn ...
by nelsona
Sat Jul 22, 2006 7:01 am
Forum: Canada / United States Tax & Accounting
Topic: H1 in US but staying in Canada.
Replies: 3
Views: 3209

The problem is that an employee working in Canada, and the employer must pay/withold Cdn payroll taxes, like Cdn/Prov tax, EI and CPP.

There really is no choice in this. And will be simple to do for your firm since they already have presence in Canada.

It is up to you to negociate a better salary.
by nelsona
Sat Jul 22, 2006 6:53 am
Forum: Canada / United States Tax & Accounting
Topic: Proving payment of US tax for Canadian credit
Replies: 8
Views: 5522

The interest is considered US-sourced, but does not give rise to a tax credit in Canada

the tax credit that you would be alllowed would be 0%, since that is what you would owe US if you were not a US citizen.

So, CRA does not accept US interest as foreign sourced for the purposes of calculating ...
by nelsona
Sat Jul 22, 2006 6:44 am
Forum: Canada / United States Tax & Accounting
Topic: Do Canadians qualify for EIC ( Earned Income Credit)?
Replies: 6
Views: 6822

It is Unemploymnet compensation.

The child credit is iffy. He does not meet the definition, regardless of your election.

I know that, for instance, those with US green cards living in Canada (thus fling as US residents), with non-US citizen children who do not have a green card, have not been ...