Search found 17738 matches

by nelsona
Mon Dec 05, 2022 10:31 am
Forum: Canada / United States Tax & Accounting
Topic: W8 versus W9
Replies: 6
Views: 166

Re: W8 versus W9

The W- form is going in her permanent file. It is a way of assigning her tax ID to her file. Is she going to send a W-9 three months from now?

A W8 will subject her to unnecessary withholding, say, say from an investment account.

Don't over think this.
by nelsona
Mon Dec 05, 2022 10:24 am
Forum: Canada / United States Tax & Accounting
Topic: W8 versus W9
Replies: 6
Views: 166

Re: W8 versus W9

It all depends on WHO is doing the requesting. If she is openinga bank account in US, and lives in US, and will be filing a joint tax return with spouse, and will meet all definitions of residdnt within weeks, she should file W-9. If it is a Cdn bank requesting a W-9 to establish that she is a US pe...
by nelsona
Sat Dec 03, 2022 7:14 pm
Forum: Canada / United States Tax & Accounting
Topic: W8 versus W9
Replies: 6
Views: 166

Re: W8 versus W9

This applies to the whole family, btw, not just your daughter.

If she has an ITIN or SSN and is physically residing in US, she fills a W-9.

There is a reason W-8 is actually called W-8BEN: It is for claiming certain treaty rights for residents of another country. This doesn't apply to her.
by nelsona
Fri Dec 02, 2022 5:13 pm
Forum: Canada / United States Tax & Accounting
Topic: US Contractor - What do I file?
Replies: 1
Views: 71

Re: US Contractor - What do I file?

As long as you are not in Canada more than half your time over any 365-day period, you are not taxable in Canada on the income. You would file a non-resident Cdn return, reporting your Cdn-based self-employment income, but would then exclude the tax on line 25600 to owe no income tax. Like US, Canad...
by nelsona
Mon Nov 28, 2022 8:27 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian who moved to US. Tax questions
Replies: 2
Views: 909

Re: Canadian who moved to US. Tax questions

1. how you file in US is not dependant on how you file in Canada. You left canada in octeober, so you file as n Emigrnat, with a departure date on your return for the province you left. That is your only choice. In US, you follow the US rules, which likely mean you file a 1040NR, reporting only US i...
by nelsona
Mon Nov 28, 2022 8:23 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian who moved to US. Tax questions
Replies: 2
Views: 909

Re: Canadian who moved to US. Tax questions

1. how you file in US is not dependant on how you file in Canada. You left canada in octeober, so you file as n Emigrnat, with a departure date on your return for the province you left. That is your only choice. In US, you follow the US rules, which likely mean you file a 1040NR, reporting only US i...
by nelsona
Mon Nov 28, 2022 8:20 am
Forum: Canada / United States Tax & Accounting
Topic: $10,000 Exemption for Former Residents Moving to Canada
Replies: 1
Views: 423

Re: $10,000 Exemption for Former Residents Moving to Canada

According to D2-3-2, every item is subject to the limitation, so, in your case you would pay dut on the $2000 overage on each car.
https://www.cbsa-asfc.gc.ca/publication ... 2-eng.html
by nelsona
Fri Nov 25, 2022 9:45 pm
Forum: Canada / United States Tax & Accounting
Topic: Canada Departure Return for 1 Day
Replies: 7
Views: 3130

Re: Canada Departure Return for 1 Day

Whether you get credits or not, you NEVER report world income after your departure AS TAXABLE INCOME. You merely STATE your world income after departure in order to determine whether you get full or partial credit.

You will however get partiai credits for the portion of the year you lived in Canada.
by nelsona
Mon Nov 21, 2022 5:49 pm
Forum: Canada / United States Tax & Accounting
Topic: US Social Security income reporting on Form 1040
Replies: 15
Views: 4343

Re: US Social Security income reporting on Form 1040

As to your software issue, that you will have to ask them. Taxact works for me every year. Perhaps you aren't answering a box correctly.

"waived" does not mean "forbids".
by nelsona
Mon Nov 21, 2022 5:46 pm
Forum: Canada / United States Tax & Accounting
Topic: US Social Security income reporting on Form 1040
Replies: 15
Views: 4343

Re: US Social Security income reporting on Form 1040

Forget this. Just file as I mention going forward. Six years later worrying about this is moot. The instructions clearly state that filing for social security, along with a host of other regular income streams you might encounter, are waived. "Positions for which reporting is waived include, bu...
by nelsona
Mon Nov 21, 2022 12:30 pm
Forum: Canada / United States Tax & Accounting
Topic: TN moving back to Canada. Tax Question
Replies: 13
Views: 3010

Re: TN moving back to Canada. Tax Question

You certainly can file without 2255, but then yo uare paying US tax that you don't need to. The IRSA will never refuse a return on which you overpay your taxes. Kidding aside, you could also simply use the Cdn tax on your Cdn income as a credit using form 1116. That usually isn't the best case, but ...
by nelsona
Mon Nov 21, 2022 12:27 pm
Forum: Canada / United States Tax & Accounting
Topic: US Social Security income reporting on Form 1040
Replies: 15
Views: 4343

Re: US Social Security income reporting on Form 1040

It is very rare that one MUST file an 8833, since there are income thresholds that need to be met.

However, I believe in filing 8833s in order to INFORM IRS of what you are doing on your tax return.
by nelsona
Sun Nov 20, 2022 3:36 pm
Forum: Canada / United States Tax & Accounting
Topic: TN moving back to Canada. Tax Question
Replies: 13
Views: 3010

Re: TN moving back to Canada. Tax Question

file an extension, and file when you meet the test
by nelsona
Sat Nov 19, 2022 9:42 pm
Forum: Canada / United States Tax & Accounting
Topic: US Social Security income reporting on Form 1040
Replies: 15
Views: 4343

Re: US Social Security income reporting on Form 1040

You should not exclude the SS, but you certainly can include the gross amount, and then make the taxable amount 0. This can be e-filed. You should submit an 8833 with this. The same procedure would be used for CPP and OAS once you collect those. That has become my preferred method over re-sourcing, ...
by nelsona
Fri Nov 18, 2022 1:35 pm
Forum: Canada / United States Tax & Accounting
Topic: TN moving back to Canada. Tax Question
Replies: 13
Views: 3010

Re: TN moving back to Canada. Tax Question

One question at a time: The request for previous tax year info *might* be for netfiling, which you probabaly can;t do anyways as a returning resident. You were not supposed to file in 2021, so don't worry. As for 2555, you will only qualify after you leave US for about a year, it will still be worth...