Serbinski Accounting Firms

There is no limit on how much you can withdraw, the withdrawals are treated as pension income. There will be withholding. It is always good to file to reduce the US tax, evn if the withholding is 15%. As long as it is a 401(K), you can split the income (and, now you can split the tax too(, with your...

She would only need to report it if it is sold after she becomes Cdn tax resident. Even then, at most she would be taxed on the gain after her arrival in Canada, and could even clain that this was still her Principal residence. If any case, unless it takes a copule of years to sell, she should have ...

The stipend is wages, so will not be exempt. The other income will be independent services, and you will need to meet the requirements of the regs mentioned earlier. Whenter or not you are exempted from withholding on these payment, you will have to file a Cdn tax return to prove this, and to get an...

C$10K, of course.

The stipend would be taxable in Canada, unless it is for less than C$10 for the entire year, in which case it too would be excludable from Cdn tax.

the waiver (or more importantly, the exemption from tax) is what I was referring to in my earlier post. He may not meet the withholding waiver requirements by these tests, but should be able to exclude the income at tax time, based on the treaty.

As you saw, this will depend on whether you have a permanent establishment (PE) that you will be working out of. If fact, if you do not have a PE, you may be absoleved of ALL Cdn taxes for that self-employment income. So, the question is, how will you be operating (no pun intended) as a physician in...

Your Cdn tax on they condo will not be as high as you think, because you benefit from the years it was your principal residence (plus 1 year), so your gains will only be about $90K between you. 45K would be your portion, and only $22K wouyld be your taxable portion. Your gains in US will be based on...

yes, your income in Canada, earned in Canada will still be taxed in Canada (and then in US), so you should continue to pay quarterly taxes as you are doing. OHIP will not be aof any help. CRA will say it is taxable, which it is.

As you will learn next year, you have the option of filing a full year 1040 in your move year, which would likely save you quite a bit of US tax. Having the TFSA and its income on that return may diminish the advantage of filing full year joint 1040. Best to take care of this in the year before movi...

Yes, anyone considered Cdn resident, but working in US is considered a commuter for RRSP purposes.

But, even with a spouse in Canada, you CAN be considered a treaty (deemed) non-resident, if you never or rarely visit your spouse, and they regularly visit you in uS instead.

Your situation is not unique, there are 100's of posts that deal with these issues. Happy browsing.

3, This doesn't apply to you. That is for non-residents spending too much time in Canada. You are simply returning to Canada in March, Period. 5. As long as your departure return was accepted previously, you will not be determined to never have left. Even if you had come back 6-9 months after leavin...

Since your spouse is a US citizen, you certainly can file a 1040 joint with her to benefit from all the normal deductions, exemptions etc.

You don't really need to, but you could file an 8833 treaty claim just to explain, but I would not bother.