Search found 6 matches

by sunnysun
Tue Jan 22, 2008 2:48 pm
Forum: Canada / United States Tax & Accounting
Topic: Question on 401K and RRSP when filing tax for both countries
Replies: 13
Views: 7031

Right. I know I get no benefit to lower US tax.

Regarding the exchange rate, I am looking at the "Monthly and annual average rates". But I don't see US is listed.
by sunnysun
Tue Jan 22, 2008 10:40 am
Forum: Canada / United States Tax & Accounting
Topic: Question on 401K and RRSP when filing tax for both countries
Replies: 13
Views: 7031

Nelsona, thanks, I will do a full 1040 inlcuding my incomes in Canada too, along with my wife's. and use 2555 to exclue Canadian income, right? I took a look at the http://www.cra-arc.gc.ca/tax/individuals/faq/exchange_rate-e.html to find the exchange rate, but couldn't find the rate for US Dollar. ...
by sunnysun
Mon Jan 21, 2008 9:33 pm
Forum: Canada / United States Tax & Accounting
Topic: Question on 401K and RRSP when filing tax for both countries
Replies: 13
Views: 7031

Hi Nelsona, This is the first time I file both US and CDN tax. So I am still new to this. But I am very glad that I have your expertise here to help me and other people. Appreciate it very much. 1. I am assuming we will file US tax first, then file CDN tax using US credit since I have paid most of t...
by sunnysun
Mon Jan 21, 2008 8:12 pm
Forum: Canada / United States Tax & Accounting
Topic: Question on 401K and RRSP when filing tax for both countries
Replies: 13
Views: 7031

Thanks Nelsona, So I really should stop contributing 401k if my current situation will continue for another year? or I keep purchasing, one day once I am not CDN, can I deduct all of them? the other question is: in my situation does it matter to me file 1040NR or 1040 and does it matter to me file j...
by sunnysun
Mon Jan 21, 2008 2:23 pm
Forum: Canada / United States Tax & Accounting
Topic: Question on 401K and RRSP when filing tax for both countries
Replies: 13
Views: 7031

My situation is this: I was in states from Feb 4th to Oct 17. I went back Canada three times about 30 days in total during this period. My wife came to visit me twice. I rented an apartment during my stay in US. My wife intended to come in July 2007, hence we sold house in Canada, but then we found ...
by sunnysun
Sun Jan 20, 2008 9:21 pm
Forum: Canada / United States Tax & Accounting
Topic: Question on 401K and RRSP when filing tax for both countries
Replies: 13
Views: 7031

Question on 401K and RRSP when filing tax for both countries

Hi, I am working with US company with TN status since Feb 2007. Before that I have been working in Canada. My wife is still living and working in Canada. I think I am a tax resident for both countries and need to file taxes for both countries. Correct me if I am wrong about this. Now I have question...