Serbinski Accounting Firms

Ok, so my non-investment USD account balance fluctuated throughout the year because of money in/money out via currency exchange and living expenses while in the US. I can track everything in and out of my account. Obviously currency exchange is a realizable transaction, but what personal expenses (i...

I'm in a similar boat with respect to my non-investment USD/CAD transactions. I have a USD account that I use for non-investing purposes. I borrowed $CAD and bought $USD, then bought a car in the US, sold the car at a loss, then transferred back to $CAD to pay off the loan. There will be a capital g...

I understand what you are saying. To confirm: I have to keep a register of all transactions on the cash portion of my USD brokerage account. Any time I buy stock (sell USD) there is a gain/loss. Anytime a dividend is deposited or I sell stock (buy USD), the average exchange rate changes. Meanwhile, ...

I searched the forum for some guidance on this one, but could not find anything specific. This is for a Canadian return. In early 2008 I converted $CAD to $USD. Then proceeded to buy/sell US equities as well as fund the account with additional $USD converted from $CAD. Additionally, $USD dividends w...

I just found the following post which answers my questions: http://forums.serbinski.com/viewtopic.php?t=3209

So I filed my US federal and state tax returns. Assuming these are correct, I have started my Canadian and Ontario tax returns via UFILE. I would like to confirm the following: 1. For my foreign income, do I enter the amount from box 1 of form W-2? 2. For foreign taxes paid, do I enter the sum of my...

I was in the US for a total of 71 days under a TN-1 visa. During that time I had closer ties to Canada then the US. I am filing 1040NR-EZ with 8840. 1. Do I pro-rate the $3500 exemption amount based on the number of days I was in the US with the TN-1 (i.e. 3500 x 71 / 365)? 2. 8840 asks for the loca...

Sorry and one more thing: is there a declaration I need/should file to either the US or Canada declaring my intent to remain a resident of Canada for tax purposes?

Thanks! That helps clear things up a lot. I will be renting, sharing a small appt with four other people. Other than the job, I will have a car that I have purchased there. All my ties are in Canada (girlfriend, family, most of my friends, house, bank accounts & investments, and "stuff"...

Hi All, I will be moving to Boston, MA on June 7 for work under a TN-1 visa. I believe I will be a resident of both the US and Canada (>183 days in US + residential ties to Canada). I will have CDN income prior to the move, and will have US income after the move. I have a joint mortgage, joint home ...