Search found 23 matches

by wimzieguy
Sun Jul 17, 2011 1:37 am
Forum: Canada / United States Tax & Accounting
Topic: Closing house deal after I leave Canada
Replies: 3
Views: 3254

I did the same this year, didn't file any extra forms or such. My lawyer told me the same thing that they'll withhold 25% of proceeds from the house sale for CRA, but when they learned that I sold my house within 4 weeks of my physical move, they backed off. I think if you are away for more than a y...
by wimzieguy
Tue Mar 29, 2011 3:15 pm
Forum: Canada / United States Tax & Accounting
Topic: RRSP/401K contribution carry over
Replies: 2
Views: 2716

RRSP/401K contribution carry over

Hi, I have a tax question I am hoping some one can answer. My situation: - I am a commuter currently living in Ontario, Canada and working in US. I daily commute to work in US. - I do contribute to both my RRSP's and 401K accounts to bring down my tax liability. - For 2010, my annual pay was about 1...
by wimzieguy
Fri Oct 01, 2010 4:36 pm
Forum: Canada / United States Tax & Accounting
Topic: Child Tax Benefit in US return and CRA rules
Replies: 5
Views: 3526

nicely explained!

Thanks a bunch.
by wimzieguy
Fri Oct 01, 2010 11:13 am
Forum: Canada / United States Tax & Accounting
Topic: Child Tax Benefit in US return and CRA rules
Replies: 5
Views: 3526

ok, here is another try.... when u file taxes to IRA (US), you can claim child tax benefit, i.e $1000 per child. In my case, CRA reduced my tax amount paid to US by the amount of child tax claim, which was $3000 in my case. This has reduced "foreign taxes paid" amount considerably, thus re...
by wimzieguy
Thu Sep 30, 2010 10:57 am
Forum: Canada / United States Tax & Accounting
Topic: Child Tax Benefit in US return and CRA rules
Replies: 5
Views: 3526

Child Tax Benefit in US return and CRA rules

Hi,

I have claimed child tax benefit for my three kids when I file for US returns (Canadian citizen working in US on TN and living in Canada). CRA reduced my paid tax amount to US by $3K.

Is this the way tax calculation works?

Any ideas/comments?

Thanks.
Wimzie
by wimzieguy
Fri Mar 05, 2010 11:37 am
Forum: Canada / United States Tax & Accounting
Topic: Child Tax Credit on US return
Replies: 2
Views: 2148

Child Tax Credit on US return

Canadian with 3 kids (all younger than 16)... wondering whether I can claim all 3 for child tax credit of $3000?

Please advise.
(income < 100K, MFJ)
by wimzieguy
Thu Feb 18, 2010 3:53 pm
Forum: Canada / United States Tax & Accounting
Topic: US 401K deduction Limit
Replies: 1
Views: 1765

US 401K deduction Limit

As 401(k) or IRA contribution is deductible in Canada now, up to the amount of available RRSP contribution room, then the corollary of that would entail an RRSP deduction in the U.S. up to the amount of allowable contribution into a U.S. retirement account. My question is "what is that allowabl...
by wimzieguy
Thu Jan 15, 2009 11:42 am
Forum: Canada / United States Tax & Accounting
Topic: Canada U.S. Treaty - Fifth Protocol, Approved by US Senate!?
Replies: 11
Views: 7273

Nelsona,

As per Serbinski accounting firm, this appears to come into effect starting Jan 1st, 2008 (see link below)

http://forums.serbinski.com/viewtopic.php?t=3175

Any comments?

Thanks.

AK
by wimzieguy
Mon Dec 22, 2008 10:46 am
Forum: Canada / United States Tax & Accounting
Topic: Canada U.S. Treaty - Fifth Protocol, Approved by US Senate!?
Replies: 11
Views: 7273

Reading CRA website (via link provided by Nelsona), I noticed the following: "The Protocol will have effect as per the provisions contained in Article 27 of the Protocol." Article 27 => This Protocol shall enter into force on the date of the later of the notifications referred to in paragr...
by wimzieguy
Tue Dec 09, 2008 2:31 pm
Forum: Canada / United States Tax & Accounting
Topic: US/CAN Income Tax consultant in WINDSOR, ONTARIO
Replies: 11
Views: 6347

When I file 1040NR (using taxrate from 1040), should I label the "fake" 1040 performa as "fake" (or strike out as 'void' or something of imilar nature)? other wise, how'd they know which one to process, 1040 or 1040NR.

Please advise.
by wimzieguy
Mon Dec 08, 2008 9:44 am
Forum: Canada / United States Tax & Accounting
Topic: US/CAN Income Tax consultant in WINDSOR, ONTARIO
Replies: 11
Views: 6347

If I file using either 1040NR or 1040, do I have to send form 8833 (to claim treaty status) as well?
by wimzieguy
Mon Dec 01, 2008 11:39 am
Forum: Canada / United States Tax & Accounting
Topic: US/CAN Income Tax consultant in WINDSOR, ONTARIO
Replies: 11
Views: 6347

Do I have to send the "fake" 1040 form with my returns as well?

Please confirm.

Thanks.
by wimzieguy
Sat Nov 29, 2008 11:08 am
Forum: Canada / United States Tax & Accounting
Topic: US/CAN Income Tax consultant in WINDSOR, ONTARIO
Replies: 11
Views: 6347

If I opt for the 3rd option (i.e. filing 1040NR on which you report only US income, but calculate the taxrate on that income using a 1040 MFJ), can I claim property taxes and mortgage interest paid for house located in Canada?
by wimzieguy
Wed Nov 26, 2008 3:39 pm
Forum: Canada / United States Tax & Accounting
Topic: US/CAN Income Tax consultant in WINDSOR, ONTARIO
Replies: 11
Views: 6347

Being a Canadian citizen, living in Canada and commuting to US for work, do I have to file 1040NR (using 1040 proforma/tax rate) or can I simply file 1040?
Please advise.
Thanks.
by wimzieguy
Fri Nov 21, 2008 3:18 pm
Forum: Canada / United States Tax & Accounting
Topic: US/CAN Income Tax consultant in WINDSOR, ONTARIO
Replies: 11
Views: 6347

US/CAN Income Tax consultant in WINDSOR, ONTARIO

Hi All,

Can any one recommend any TAX Consultant from WINDSOR, Ontario expertising in US/CAN taxes?

Thanks.

AK