Serbinski Accounting Firms

Just realized that I forgot to include one of my Cdn bank accounts on my FBAR and 8938 for 2019. It is a new account that I opened in 2019 and never used - it has had a zero balance the entire time, so no income tax implications at least. How should I fix this? I’m thinking amended FBAR and amended ...

Ah...I think I get it now. I can't imagine how people deal with this over the long term if they move back to Canada with significant savings that are converted into cdn $ like I am planning to do. Theoretically it could take years to spend that money, even with fairly large transactions. I guess it ...

I am still not clear on when/how/to whom capital gains or losses are reported in this situation. As an example, I have probably deposited 30-40K U.S. into my Canadian bank account over the years, almost always at a gain, and then subsequently spent it in Canada on a variety of things (from vacation ...

Under what kind of circumstances would I have a capital loss or gain? I'm also curious what you mean when you say it "isn't much of a concern." I hope to eventually use the $$ deposited in my Canadian account to purchase a home in Canada. If I had to pay capital gains on a currency withdra...

I am a Canadian citizen, working in the U.S. since 1998, first on TN then GC since 2005. I declared myself a non-resident of Canada for taxation purposes in 1998, and have filed U.S. taxes since that time. Over the years I have accumulated significant savings in my U.S. bank accounts (about $100,000...