Serbinski Accounting Firms

MCH wrote: > Hello, > My wife and I are both dual citizens residing in Florida for over ten years > and we own 2 condominiums, a rental unit and our principal residence, both > names on both deeds . We file our income tax jointly and rental income / > loss is 50/50. > My wife prefers to move back to...

Hello, My wife and I are both dual citizens residing in Florida for over ten years and we own 2 condominiums, a rental unit and our principal residence, both names on both deeds . We file our income tax jointly and rental income / loss is 50/50. My wife prefers to move back to Ontario where we own a...

Much appreciated

Hello,
We are dual citizens and planning on returning to Canada mid 2018 and become CAN Resident. My wife and I own rentals in FL and wondering what the tax implication if we sell before leaving the US vs. after leaving the US and becoming CAN resident.

Thank you, much appreciated.

Hello, I am dual citizens and the US is my primary residence. I was deemed by the government of Canada none-residents back in 2005. Can I visit and stay in Canada for more than 6 months? I receive income from the US and pay taxes to US Government. I am worried if I stay longer than 6 months, I will ...

Many Thanks

Hello, I am dual citizen CAN/USA currently resident of the US. I have 3 rentals properties and my 401K saving in the last 15 years. Debating if I should retire in Canada or in the US. Can someone advise? If retiring in Canada is best, what's the best option to transfer my 401K to Canada?

Many Thanks for your help,

Thanks Neilson, truly appreciated, according to SS, I am entitled to $1015 next year and CPP told me I am only entitled to $1250. do I get both ($2,265)?

I worked in Canada for 23 years and contibuted to CPP, then I moved to the US and worked for 11 years have 40 credits. When I reached retirement age, can I collect from both countries since I contributed to CPP 23 years and SS 11 years?

I filed in 2009 and claimed most of my rental loss, but couldn't claim my total loss because of my income and I am wondering if I can claim in 2010 the loss I couldn't claim in 2009.
Thanks,

My rental property is in Canada and I am resident of the US. When I file my income tax in the US, how do I claim the rental passive loss carryover from 2009 if the property was not for rental anymore in 2010? Do you file a Schedule E and claim the passive loss carryover there with no rental income a...

can I used my cap loss on stocks to off set cap gain tax? And what if I don't make profit when I sell it?

Thank you for your reply. My plan is to keep it as a vacation home, but in a few years I will make it my principal residence, so when I do that, there will be cap gain tax, right?