Search found 13 matches

by KenS
Tue Oct 28, 2008 4:45 pm
Forum: Canada / United States Tax & Accounting
Topic: Cdn Tax preparation question
Replies: 26
Views: 15623

She can't remember but she didn't really work while in school, so the income should be very low if any. You are right, if they ask, they will ask. No sense in thinking about it. Thanks again for all the advice provided! Have a good one!
by KenS
Tue Oct 28, 2008 12:34 pm
Forum: Canada / United States Tax & Accounting
Topic: Cdn Tax preparation question
Replies: 26
Views: 15623

Hi Nelsona, I wanted to thank you again for all the advice and patience you've exhibited in your replies. I've completed all the tax paperwork and sent it up to Canada declaring myself as a resident of Canada. Keeping my fingers cross that CRA would not question anything aside from questioning why m...
by KenS
Sun Oct 26, 2008 10:59 pm
Forum: Canada / United States Tax & Accounting
Topic: Cdn Tax preparation question
Replies: 26
Views: 15623

Thanks again for setting me straight. I must be experiencing a brain cramp thinking what they deducted from the W2 was what I paid in taxes. Probably going to bite the bullet and just declare myself a resident of Canada. At the very least, I can start building that RRSP deductions for 2009. Just a f...
by KenS
Fri Oct 24, 2008 11:37 am
Forum: Canada / United States Tax & Accounting
Topic: Cdn Tax preparation question
Replies: 26
Views: 15623

Sorry, I misread your message. Wife paid US Fed and State taxes of $14.1K. Add to the Fed + State + FICA that I paid and the total US taxes would be $33.9K total. Using the 51% proration, the deduction I can use for taxes paid is $17.3K. Running ufile, I get this result: 20% residency - $0 Cdn taxes...
by KenS
Fri Oct 24, 2008 9:08 am
Forum: Canada / United States Tax & Accounting
Topic: Cdn Tax preparation question
Replies: 26
Views: 15623

Below are my information just based on income and taxes deducted (from W2 slips). I excluded all charitable contributions and professional membership deductions to make it simpler. My information: Income plus 401k = $73K Fed + State + FICA paid = $19.8K Wife: Income for all of 2007 = $69K Fed + Stat...
by KenS
Thu Oct 23, 2008 11:50 pm
Forum: Canada / United States Tax & Accounting
Topic: Cdn Tax preparation question
Replies: 26
Views: 15623

I will use ufile again as you suggested and let you know the results. Probably won't be until tomorrow night though. Based upon your info, do you think I am better off biting the bullet and filing 2007 and 2008 taxes? Or do you think I have a strong enough case that CRA will find me to be a deemed n...
by KenS
Thu Oct 23, 2008 10:16 pm
Forum: Canada / United States Tax & Accounting
Topic: Cdn Tax preparation question
Replies: 26
Views: 15623

Yes you are right. I called CRA and that was what they told me about the residency. That didn't sound right to me either, that I was considered a resident simply because I accompanied my wife to Canada. To clarify my question, here is a hypothetical situation: No Cdn taxes in 2008 was filed because ...
by KenS
Thu Oct 23, 2008 6:17 pm
Forum: Canada / United States Tax & Accounting
Topic: Cdn Tax preparation question
Replies: 26
Views: 15623

Sorry. Confusing the taxation jargon between the two countries. What I meant by the standard deduction was the personal amount and spouse amount. According to ufile, the cdn Fed taxes was offset by the foreign tax credit. The provincial tax was the same, Prov taxes was offset by the foreign tax cred...
by KenS
Thu Oct 23, 2008 2:03 pm
Forum: Canada / United States Tax & Accounting
Topic: Cdn Tax preparation question
Replies: 26
Views: 15623

Hi Nelsona, Thanks again for another informative post. I used the ufile website and answered all the interview questions to the best of my knowledge. The US income (plus the 401K deductions) and standard deductions were all prorated by the ufile program (18% of total year). Didn't end up paying taxe...
by KenS
Thu Oct 23, 2008 9:04 am
Forum: Canada / United States Tax & Accounting
Topic: Cdn Tax preparation question
Replies: 26
Views: 15623

Thanks again for the quick response. Regarding the deemed non resident comment, do you recommend that I send in form NR73 before filing my 2007 taxes? Based on the results from Ufile, I have no taxes payable so I wouldn't be subject to any penalties. The ties I have to Canada includes the following:...
by KenS
Wed Oct 22, 2008 9:28 pm
Forum: Canada / United States Tax & Accounting
Topic: Cdn Tax preparation question
Replies: 26
Views: 15623

Hi Nelsona, That ufile.ca service is pretty good! Got through with the interview and prorated the income, taxes paid plus the standard deductions that Quicktax didn't seem to do (probably user error). Great suggestion on the foreign tax credit calculation too, my head is still spinning from trying t...
by KenS
Wed Oct 22, 2008 4:17 pm
Forum: Canada / United States Tax & Accounting
Topic: Cdn Tax preparation question
Replies: 26
Views: 15623

Hi Nelsona, Thanks for the quick and informative response. From Oct 07 to Dec 07, I spent a total of two weeks in Canada. From Jan 08 to Dec 08, I spent and will be spenting a total of 12 weeks in Canada. My wife do not fly down to the US. Would I be considered a deem non resident then because of th...
by KenS
Wed Oct 22, 2008 1:30 pm
Forum: Canada / United States Tax & Accounting
Topic: Cdn Tax preparation question
Replies: 26
Views: 15623

Cdn Tax preparation question

Great board and good source of info! Background: Lived in US for 8 years under TN. Wife moved back in Oct 07 and did not work rest of 2007. I am working in US until Jan 09. Did not know that I was considered a Cdn resident since Oct 07. Need to file Cdn taxes for 2007. No penalty as Wife has $0 inco...