Search found 15 matches

by dvornik
Mon Apr 16, 2007 2:42 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian permanent resident commuter to US
Replies: 9
Views: 6014

[quote="nelsona"] 4). You must fololw the depreciation/renatal income rules in US, which are likely different than what you are doing in canada.[/quote] Another topic made me think again about depreciation. We have rental property in Michigan and if we depreciate it we have loss around $2,...
by dvornik
Wed Feb 14, 2007 1:01 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian permanent resident commuter to US
Replies: 9
Views: 6014

And the $2000 over contribution limit amount is not tax deductible. Am I right?
Thank you!
by dvornik
Wed Feb 14, 2007 12:17 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian permanent resident commuter to US
Replies: 9
Views: 6014

Thank you so much! I have two more questions:
1. I immigrated to Canada in May 2006. Do you know if I have any RRSP room?
2. With 1040 federal/state refund I get, I assume I have to subtract that amount from Foreign Tax Credit in T1. Am I right?
by dvornik
Tue Feb 13, 2007 9:45 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian permanent resident commuter to US
Replies: 9
Views: 6014

Thank you Nelsona!
What about Michigan state income taxes? Can I file it as resident or not?
by dvornik
Fri Feb 09, 2007 10:52 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian permanent resident commuter to US
Replies: 9
Views: 6014

Canadian permanent resident commuter to US

Canadian permanent resident (PR) not Canadian citizen, working in US (H1), commuting daily. Has wife - Can permanent resident working in Canada. Two kids - one US citizen and Canadian PR, second - Canadian PR. Was living in US for six years and moved to Canada in May 2006. Have active rented propert...
by dvornik
Fri Feb 02, 2007 10:47 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian TN commuting to US - how to file next year?
Replies: 112
Views: 70740

Nelsona, does the treaty relate to Can Citizens only or Permanent residents as well?
by dvornik
Thu Feb 01, 2007 9:30 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian TN commuting to US - how to file next year?
Replies: 112
Views: 70740

Nelsona, I'm sorry, I just went thru your response about child tax credit. I was asking about Child Care expenses. Can I deduct Canadian Child Care expenses for my daughter (US citizen lives in Canada) when I file 1040 joint return? thank you!!!
by dvornik
Thu Feb 01, 2007 4:07 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian TN commuting to US - how to file next year?
Replies: 112
Views: 70740

thank you!
Yes my daughter has SSN and my son has ITIN. What about receiving tax credit for paying tuition in Canadian college?
by dvornik
Thu Feb 01, 2007 2:54 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian TN commuting to US - how to file next year?
Replies: 112
Views: 70740

As a commuter to US and spouse working in Canada, can you claim in 1040 the deductions for Child Care and/or studing in Canada ?
by dvornik
Mon Jan 29, 2007 11:19 am
Forum: Canada / United States Tax & Accounting
Topic: 401k gains taxable in Canada?
Replies: 14
Views: 12218

Do you know if filing the Canadian taxes do you have to report 401k account balances every year or not?
by dvornik
Thu Jan 25, 2007 3:46 pm
Forum: Canada / United States Tax & Accounting
Topic: Roth IRA vs 401K for USC, Canadian Resident, again
Replies: 6
Views: 5074

I have question to you:
From another topic you were pointing that CRA asked you to pay tax on employer contributions. Did you fight it back or you had to pay it anyways?
by dvornik
Thu Jan 25, 2007 3:43 pm
Forum: Canada / United States Tax & Accounting
Topic: Roth IRA vs 401K for USC, Canadian Resident, again
Replies: 6
Views: 5074

take a look here

nelsona already gave the answer:
http://forums.serbinski.com/viewtopic.php?t=1634

[i]Employer matches will still be made with pretax dollars, and the match will accumulate in a separate account that will be taxed as ordinary income at withdrawal. [/i]
by dvornik
Thu Jan 18, 2007 9:59 pm
Forum: Canada / United States Tax & Accounting
Topic: 401k gains taxable in Canada?
Replies: 14
Views: 12218

Nelsona, do you have any references to Canadian gov publications that company matches are not taxable in the year they are made? What I can see there are two opinions: one you have to pay tax on all contributions to 401k, and another - you don't.
by dvornik
Thu Jan 18, 2007 2:50 pm
Forum: Canada / United States Tax & Accounting
Topic: 401k gains taxable in Canada?
Replies: 14
Views: 12218

Thank you! Yes, you're right here. Employer matches will still be made with pretax dollars, and the match will accumulate in a separate account that will be taxed as ordinary income at withdrawal. I live in Canada and commute to US daily for work. My employee have good matching on 401k contribution ...
by dvornik
Thu Jan 18, 2007 12:58 pm
Forum: Canada / United States Tax & Accounting
Topic: 401k gains taxable in Canada?
Replies: 14
Views: 12218

could the 401k ROTH be a good option for accepting companies matches and bonuses? Contributions to the Roth 401(k) are made post-tax.