Search found 44 matches

by webcite_99
Sat Dec 19, 2009 9:22 pm
Forum: Canada / United States Tax & Accounting
Topic: What is the Canadian Equivalent to US 1099?
Replies: 2
Views: 3752

What is the Canadian Equivalent to US 1099?

Question: Canadian resident working in Canada for Canadian company as an independant contractor. Is there an equivalent form to the US 1099 and at what dollar amount per year must the Canadian corp issue (i.e. it is $600/yr in for the US).

Thanks.
by webcite_99
Mon Aug 10, 2009 8:39 pm
Forum: Business & Personal Immigration to Canada
Topic: State Police Certificates - name based or fingerprinting?
Replies: 0
Views: 3286

State Police Certificates - name based or fingerprinting?

It appears that Immig Can requires individual state police certs for US persons immigrating to Canada if they have lived in a state for more than 6 months. Some states offer both name based certs and fingerprinting certs, but Immig Can does not specify anywhere what they will accept. Name based is o...
by webcite_99
Tue Apr 21, 2009 12:02 pm
Forum: Canada / United States Tax & Accounting
Topic: Candian Consulting Company & QSt/GST
Replies: 1
Views: 2201

Candian Consulting Company & QSt/GST

Situation: A newly formed Canadian company (federal charter) with a home office in Quebec. Question 1: When providing consulting services to a US company (no nexus to Canada) does GST & QST have to be charged? Question 2: Assuming that no GST or QST is charged when providing services to US companies...
by webcite_99
Mon Apr 13, 2009 9:21 pm
Forum: Canada / United States Tax & Accounting
Topic: Quebec Child Care Tax Credit Question...
Replies: 1
Views: 1371

Quebec Child Care Tax Credit Question...

In the Montreal Gazette a few eeks ago, an article appeared regarding amendments to the refundable tax credit for child care. The article stated: "...for those paying $25 a day per child, it's now pretty much a wash, even if household income is as much as $125,000, because the government has raised ...
by webcite_99
Sat Sep 06, 2008 10:16 pm
Forum: Canada / United States Tax & Accounting
Topic: LLC Pass through Income treatment?
Replies: 1
Views: 1632

LLC Pass through Income treatment?

For a US citizen that is a shareholder of a US LLC (Partnership tax status) who is living and resident in Canada, how does CRA treat K-1 income for tax purposes? Is it simply treated like all other ordinary US source income, or is there any double taxation or tax hit from CRA in the way in which the...
by webcite_99
Sat Sep 06, 2008 9:51 pm
Forum: Canada / United States Tax & Accounting
Topic: Sale of US home while resident in Canada
Replies: 1
Views: 1532

Sale of US home while resident in Canada

Question: US citizen owns a home (has been the primary residence for 2+ straight years) in US and rents a home in Canada. Let's assume that the couple lives enough in the rental home in Canada to be deemed resident in Canada by CRA. If the US home is sold for under $250,000 profit, is there any capi...
by webcite_99
Thu Mar 27, 2008 2:55 pm
Forum: Canada / United States Tax & Accounting
Topic: US company wants to use an ind. contractor from Canada
Replies: 1
Views: 1517

US company wants to use an ind. contractor from Canada

US company (LLC) wants to use an independent contractor who resides in Canada and is a non US citizen. All work will be done remotely from Canada. Contractor already has a SS#. For a US based independent contractor the company would be required to fill out a form W-9 and the company would then issue...
by webcite_99
Mon Mar 03, 2008 11:33 pm
Forum: Canada / United States Tax & Accounting
Topic: Roth IRA post protocol
Replies: 1
Views: 1426

Roth IRA post protocol

is it generally agreed now post protocol that a US citizen with an exisiting Roth IRA that moves to Canada and becomes a resident can maintain all of the original benefits of the Roth IRA (assuming no future contributions after the move)? i.e. the money will continue to grow tax free post move and a...
by webcite_99
Sun Nov 25, 2007 11:35 am
Forum: Canada / United States Tax & Accounting
Topic: Transferring money from US bank to Canadian bank
Replies: 11
Views: 4761

What if the individual is also a US citizen and placed the trades while in the US -- say while on vacation or traveling thru the US? Or, what if the individual gave power of attorney to a US resident like a relative or an accountant, and that person was making the trades? are there any other creativ...
by webcite_99
Sat Nov 24, 2007 11:46 pm
Forum: Canada / United States Tax & Accounting
Topic: Transferring money from US bank to Canadian bank
Replies: 11
Views: 4761

"You should not be trading in a US (non-IRA) brokerage account once you reside in canada, since that broker is not licensed in your province of residence. "

what if any real consequences could flow to the individual should he elect not to close his US account and continue to trade in it.
by webcite_99
Mon Oct 01, 2007 4:30 pm
Forum: Canada / United States Tax & Accounting
Topic: 529 Plan
Replies: 6
Views: 4230

Thank you, and one more follow up: The nuclear family will be moving to Canada, so what if a grandparent who is a US citizen and US resident (no ties to CAN) were to set up the 529 and the grandchild (who in 18 years is a dual citizen residing in CAN) went to an approved school? Under this scenario,...
by webcite_99
Sun Sep 30, 2007 9:41 pm
Forum: Canada / United States Tax & Accounting
Topic: 529 Plan
Replies: 6
Views: 4230

Would there be CRA tax on only realized gains or is it on the increased annual value?

Also, given your response, it seems like there be a better strategy other than putting money into the 529 plan? What would make the most sense?
by webcite_99
Tue Sep 25, 2007 2:43 pm
Forum: Canada / United States Tax & Accounting
Topic: 529 Plan
Replies: 6
Views: 4230

529 Plan

Wife and children our dual citizens currently living in the US. If we put money into a 529 plan now and then move to Canada permanently, how would CRA treat the withdrawal if: The child used it for an approved university like McGill? Would the answer change of the child went to an approved US school...
by webcite_99
Tue Sep 25, 2007 2:37 pm
Forum: Canada / United States Tax & Accounting
Topic: US S-Corp ownership and K-1 treatment by CRA?
Replies: 0
Views: 1744

US S-Corp ownership and K-1 treatment by CRA?

For a US citizen that is a shareholder of a US S-Corp who is living and resident in Canada, how does CRA treat K-1 income for tax purposes? Is it simply treated like all other ordinary US source income, or is there any double taxation or tax hit from CRA? If there is some extra tax hit, is there any...
by webcite_99
Thu Nov 30, 2006 12:08 am
Forum: Canada / United States Tax & Accounting
Topic: Tax on Furniture for non-settlors?
Replies: 2
Views: 1921

Tax on Furniture for non-settlors?

I am a US citizen and my wife is Can with Green Card. We live and work in the US. We are thinking of buying or renting an Apartment in Quebec to have as a place for when we visit. If so, we would most likely want to bring several rooms worth of furniture with us to furnish the place. 1) What if any ...