Search found 18659 matches

by nelsona
Sat Apr 21, 2007 11:31 am
Forum: Canada / United States Tax & Accounting
Topic: SUPPLEMENTAL WAGE LOSS REPLACEMENT
Replies: 3
Views: 3790

you don't need to CAPitalize ALL your headings.
by nelsona
Sat Apr 21, 2007 11:28 am
Forum: Canada / United States Tax & Accounting
Topic: Dual citizen living in Canada working in the US
Replies: 14
Views: 13383

If you've lived in the US for several years, you may be penalized for wanting to give up your GC anywys, so you might as well have all the rights of USC.

Besides, your wife will always have to file in US, sometimes with you, so you aren't going to be ridding yourself of US tax regime.

Get ...
by nelsona
Sat Apr 21, 2007 3:08 am
Forum: Canada / United States Tax & Accounting
Topic: Dual citizen living in Canada working in the US
Replies: 14
Views: 13383

1) you will report all your income to Canada, BC and US. A series of complicated foreign tax credits will result in you paying BC taxrates.

2)You will not pay any cap gains in Canada, so long as you sell your US home at approx the same time that you buy your Cdn one. Any US tax will depend on you ...
by nelsona
Fri Apr 20, 2007 8:38 pm
Forum: Canada / United States Tax & Accounting
Topic: SUPPLEMENTAL WAGE LOSS REPLACEMENT
Replies: 3
Views: 3790

Please watch ALL CAPs
by nelsona
Fri Apr 20, 2007 8:37 pm
Forum: Canada / United States Tax & Accounting
Topic: ITEMIZED DEDUCTIONS
Replies: 1
Views: 2546

Yes.
by nelsona
Wed Apr 18, 2007 2:22 pm
Forum: Canada / United States Tax & Accounting
Topic: Federal foreign tax credit or deduction?
Replies: 1
Views: 2516

This section relates to business income. If you are self-employed, you might be able to use it.
I *think* this is dealing more with with "business tax" (ie. a tax on assets)

IT-506:subsections 20(11) and (12) which provide for the deduction of certain foreign taxes in the computation of a taxpayer ...
by nelsona
Wed Apr 18, 2007 12:12 pm
Forum: Business & Personal Immigration to Canada
Topic: Waiting for P.R. married to Canadian u.s. consultant
Replies: 1
Views: 6179

Please post on the TAX forum.
by nelsona
Wed Apr 18, 2007 11:48 am
Forum: Canada / United States Tax & Accounting
Topic: June 15th extension qualification
Replies: 3
Views: 4552

Depends what you mean by 'denial'. The IRS will accept your return whenever you hand it in, be it 30 days or 30 months from now. They would probably charge late filing penalty on top of interest and late payment penalty. You would be hard-pressed to be able to contest any penalty.

All these ...
by nelsona
Wed Apr 18, 2007 10:35 am
Forum: Canada / United States Tax & Accounting
Topic: June 15th extension qualification
Replies: 3
Views: 4552

Technically this applies only to US citizens and LPRs. You should probably file 4868 and get 6 month extension.

If you are filing a 1040 (as opposed to a 1040NR) one could argue that a treaty non-discrimination applies, but that would be a bit heavy-handed IMO. If you are filing a 1040NR however ...
by nelsona
Wed Apr 18, 2007 7:34 am
Forum: Business & Personal Immigration to the United States
Topic: Legal costs for visa when switching employers
Replies: 3
Views: 6535

AC21 allows for one -- after I-485 has been pending for 6 months -- to move to another company, with them picking up sponsorship.

It's called I-140 portability.
by nelsona
Tue Apr 17, 2007 3:27 pm
Forum: Canada / United States Tax & Accounting
Topic: Quebec/US/Canada tax
Replies: 9
Views: 7598

A quebec tax expert is not a cross-border expert. She would know what FICA is if she were.
by nelsona
Tue Apr 17, 2007 3:25 pm
Forum: Canada / United States Tax & Accounting
Topic: Quebec/US/Canada tax
Replies: 9
Views: 7598

The "2 year" rule is no longer in effect. Neither are you required to intend to never come back to canada.
by nelsona
Tue Apr 17, 2007 3:22 pm
Forum: Canada / United States Tax & Accounting
Topic: Quebec/US/Canada tax
Replies: 9
Views: 7598

Please, if you have a home in US and none in canada, you are not resident in canada. All the things you mentionned are secondary to a home. If you left canad in 2006, you are an emigrant.

Look at it this way: If you are still resident now, what event will make you non-resident? giving up one or ...
by nelsona
Tue Apr 17, 2007 11:03 am
Forum: Canada / United States Tax & Accounting
Topic: Quebec/US/Canada tax
Replies: 9
Views: 7598

http://www.cra-arc.gc.ca/F/pub/tg/t4056/t4056-06f.pdf

Êtes-vous un émigrant?
En général, vous êtes un émigrant aux fins de l’impôt si
vous quittez le Canada pour vous établir dans un autre
pays et que vous rompez vos liens de résidence au Canada.
Vous avez rompu vos liens de résidence ...
by nelsona
Tue Apr 17, 2007 10:59 am
Forum: Canada / United States Tax & Accounting
Topic: Quebec/US/Canada tax
Replies: 9
Views: 7598

This is incorrect. You are an emigrant. You do not have to meet the SPT if you are going to meet the SPT. You are a residdnt of US is you have a home in US and none in canada. Now, if you still have a home in canada (not rented out) this might be another story.

You need to file a departure return ...