Serbinski Accounting Firms

Regarding my trading account. If I move to the US in June this year, and I don't file my tax until April 2008, then does this mean on the day I leave Canada, I need to somehow find the closing price for each of my stocks for tax purpose? What if one of my stock is in the process of being converted t...

do I need to change my address associated with my Canadian credit cards and bank accounts once I've left Canada and moved to the USA?

will I be able to continue to use my credit cards and write cheques?

Is there any harm in submitting NR73?
Someone told me that when she went to the USA, she didn't declare non-resident right away and she ended up paying double tax.
This was 1997.

Can I use the same trick for RRSP accounts as well? So right before I move down to the USA, I sell all the winners and buy them back right away, but don't sell the losers until after I moved down, this way, my cost is high right before I moved down. Would that work?

Thanks nelson a. Do you mean if I bought a stock at $10 before, and it drops to $7 on the day I leave Canada, IRS will allow me to use either $10 or $7 as my new cost when I eventually report a capital loss in USA? and that if I choose to use $10 instead of $7, then I can take advantage of the $3 lo...

Thanks nelsona.

Does this "step up" concept apply to non-RRSP trading accounts as well?
Should I sell-and-buy-back all my stocks in my normal trading account right before I move to USA?

Thanks nelsona, just trying to understand the "stepping up basis" a little more... I've contributed 40K to my RRSP so far and have used the entire 40K to buy stocks a few years ago. I've been holding the stocks over the past few years and the market-value of the portfolio is now 100K. Supp...

Thank you nelsona.

Does this mean when I withdraw from RRSP, I will be double taxed? (by Canada and USA)

Thank you nelsona.

- When should I file my departing 2007 tax return?

- So the capital gain in my RRSP account *is taxable* to IRS ?

- I don't understand the "step-up cost basis" part, could you please elaborate on that or where can I get more information?

Thank you.

I'm a Canadian resident/citizen who will be relocating to NYC for a perm job on TN visa. I have a few questions: - what do I need to do to avoid being double taxed? - do I need to file some forms or claim something? if so, what are they? - do I need to close my bank accounts, credit cards, drivers l...