Serbinski Accounting Firms

But yes, in general it is always better to use software to do one's taxes, and go thru every question on the interview.

Thec sales tax deduction is well known. It generally is for people who live in states with no state income tax, or in years when one made a large consumer purchase. Otherwise state income taxusually trumps over sales tax.

I would add on that that if you are entitled to US citizenship now, get it done before leaving.

OHIP is a secondary tie, but DAYS are what will be most important. Once you hit 183 days, you will be resident for the year. If that is the case, then it is sometimes better to declare yourself a RETURNED resident. with an arrival date, rather than subject yourself to entire year of taxation.

If ...

Well, the interst is subject to NR tax, so for every dime you get, they should be sending a penny to CRA.

The low interst rate is more than making up for the 'supposed' exchange benefit, which I would venture to say is illusory.

Note, that this would be six months in a calendar year, so a well-timed move, say, in late june and a return to US in early July of the following year, with time spent in US could get you off the hook.

As I said, the school is only intersted in you having insurance, it does not have to be OHIP. if ...

Again, if you stay in Canada more than 6 months, you will be taxable in Canada, on your world income, not just your Cdn salary.

By bringing your family with you, and working in Canada, you will be becoming a Cdn resident for tax purposes, unless it is for less than six months.

If you are going to be in Canada for less than six months, it would seem futile to try to get OHIP, since (a) you have perfectly valid private ...

Your LIRA is an RRSP for the purposes of 8891. In any event, you are better off treating it as an RRSP in IRS eyes, as RRSPs have favourable tax treatment over foreign pensions.

The ability to collapse the LIRA has nothing to do with its size, but has everything to with the jurisdiction under which ...

You need to file a T1 as a "departing resident". Look at the Emigrant guide on the CRA site. You will put a march departure date, along with reporting your US income before then.

Your RRSP cash out is subject to 25% Cdn flat tax, not to be reported on your T1. Your rental income is subject to 15 ...

Yes you can e-file.

Rememebr that you have to report foreign accounts on form TD F 90-22.1 and send to Detroit. RRSPs also have special requiremnts.

I don't see the advantage of keeping a non-interest bearing US$ account in canada. I see keeping a Cdn account to avoid exchages when paying ...

No. NOT renting it out would have made you resident (even then, you could claim US residence).

You left canada the day you packed up and left for work. This is the date you put on your return as your departure date.

IRS requires very little documantation when submitting a paper return. Nothing from canada is to be sent. You keep all paperwork until asked.

Your bank is required to withhold non-resident tax on your interset, so they NEED to know that you are in US. Your credit card should come to your address ...

Looks like it will cost you to find out.

I'm sure you've read this, but will post here for completeness:

http://www.bce.ca/en/investors/sharehol ... ns/aliant/

From a US tax standpoint, the gross amount of the distribution paid to you will be included in your gross income as a dividend, to the extent paid out of the current or accumulated earnings and profits of BCE, as determined under US federal income tax principles. The portion, if any, of the distribution paid to you which is not paid out of BCE’s current or accumulated earnings and profits will be treated as a tax-free return of capital, causing a reduction in the tax cost of your BCE common shares. BCE does not calculate its earnings and profits under US federal income tax rules. Therefore, BCE will not be in a position to provide such information to you. You should consult with your own tax advisors regarding the amount of the distribution that will be treated as a dividend for US federal income tax purposes.

BCE should meet the definition of a qualified foreign corporation and, as such, should the distribution be considered to be a dividend in whole or in part, you should generally be able to benefit from the 15% maximum US federal income tax rate on such dividend, provided you are an individual and you meet the required 60 day holding period.

With respect to the determination of the amount of the distribution paid to you, the BCE Plan of Arrangement provides that the distribution was effective as of July 10, 2006 at 5:01 p.m., the time of the transfer of the Units in favor of Computershare. However, there is uncertainty as to whether you are considered to have received the distribution as of that time from a US tax standpoint. If you are considered to have received your distribution as of that time, you may decide to use the value of the Units as determined by BCE (referred to above under “Canadian Tax Considerations for Canadian Shareholdersâ€￾) in calculating the amount of the distribution you received. However, BCE cannot provide assurance that the US tax authorities will agree with the use of such value. Consequently, BCE should not be considered responsible for any additional tax, interest or penalties assessed by the US tax authorities should you decide to use the above-mentioned estimate of the value of the Units.

Whether you need to file extension depends on whether you owe tax or not (this applies to all extensions). If you determine that you will owe tax, you are supposed to file an extension and pay what you estimate you will owe.

If you determine that you will not owe any taxes, then you do not need to ...