Serbinski Accounting Firms

We've had our custom house account for years but since they were acquired by Western Union it's become a PITA. Our income is Canadian but we live in the US so we're constantly converting CAN$ to US$. Recently we've been preparing to buy a house so we've been moving more money than usual. Western ...

Thanks for the response. You are right about the CCPC (we didn't have it when we left Canada so no deemed disposition then). We became Canadian tax residents again (by moving there briefly) and then acquired the CCPC.

We earn our money in Canada and the foreign tax credits we take in the US usually ...

Lastly, any deemed disposition (if it were applicable at all) would have happened over 10 years ago when we moved to the US and ended our Canadian residency. We took care of all those requirements then.

All we've done since then is to add the Canadian tax residency requirements back in.

They haven't had a problem with it for over four years. I don't know why they would have a problem with it. We are the ideal case for them. All the tax revenue, little to no service expense required. We don't even use health services even though we are obviously helping to fund them.

It is a ...

Thanks for your response. CRA doesn't have a problem with the situation because we are taxed as residents (hence the "tax residents of both countries" comment previously). We have the worst of both worlds but we can't change the situation (unless we move back to Canada, give up green cards etc. and ...

Hi,

I followed this board many years ago but haven't lately (twin babies limit internet research time). Nelson, I'm amazed and pleased to see you still here.

I'm trying to decide on the best strategy for saving for college for our new twin babies. We are US residents, Canadian citizens (babies are ...