Serbinski Accounting Firms

nelsona, I agree that foreign _taxable_ income will never be greater, but... I've just spent the last couple of hours re-reading 1040 instructions and 2555 instructions..... NO WHERE in the instructions does it mention foreign _taxable_ income, it just says foreign income from line 45+50 from 2555 o...

Hi nelsona, The Foreign Earned Income Worksheet appears to have changed since the one in 2006, which used to work properly. I pasted it below for convenience sake. Basically anytime the foreign earned income is greater than taxable income you end up with $0 taxes, due to #6. If you are supposed to d...

Hi nelsona or cfn2007, I now understand what you are saying*. I calculated the taxes owed on all world income, determined the % taxes proportionate to Canadian income (83%), subtracted it from total taxes to determine the IRS tax owed on the 17%. I would then factor in my FTC on non-us interest. My ...

Thanks again sir! I presume when you say "if you owe tax before", that is just referring to any tax I would owe on my US income and interest (without consideration of Canadian wage income)? If so, then yes I overpaid tax on US income as it was less than $14k for those 2 months. Otherwise I...

Thank you so much so for for your assistance! From your second last reply, this may have been where I messed up. :? My US and Canadian combined income was more than $14K, but with 100% Canadian income excluded my US came under $14k. Basically what my return is showing is (US Income + Interest + Cana...

Yup, entered in all amounts into TT and it shows same. I just find it odd that I am getting 100% of the tax back that I paid in US for 2009 plus working tax credit. (basically a welcome to US, here's $800 gift). When I did up with 1040NR by hand (without treaty) I showed my tax owed was something li...

(meant to say 1116 to take FTC for Canadian interest)

Hello, Can someone confirm if it is possible to owe no tax for my situation below? It sounds too good to be true. [[I am also showing I would be eligible for making work pay tax credit for wife and I (another $800 on top of getting all US tax back) and TurboTax is agreeing.]] --Situation-- Wife and ...

Is 8833 still required in this situation?

Hi nelsona, Thank you very much for your feedback. I spent most of the weekend reading and re-reading (Pub 54 was what I was needing, I had just been using 519). I had also been following incorrect instructions for TurboTax by fellow Canadians. Anyways I think I'm at the point now where I am stressi...

Hi nelsona, Sorry to keep bugging you and I am very gracious for all your help, thank you. I keep confusing myself though after reviewing the threads on this site and you appear to be the tax genious. So I have figured out my Canadian Taxes using Emigrant guide (will be getting a refund, yay). Now I...

Hi nelsona, Now that it's about that time of year, I've had a chance to read some more and have a few more questions, if you do not mind answering: 1) I am attempting to use QuickTax for my Canadian return and it wants me to attach a Schedule A for Worldwide Income. If my wife and I left Canada (bec...

Thank you nelsona! A few follow-up questions if you don't mind helping out still :D : 2) If I end up making less than $11,400 in US 2009 income, will I see much of a difference between either of the 3 choices? a) If I file a 1040NR doesn't that mean my company should have withheld additional taxes? ...

Hi All, I am looking for confirmation that my late night reading has paid off :-) [b]Canadian Residency Status[/b] My wife (L2) and I (L1B) moved to Houston on October 28. We have have no significant ties to Canada and I only have a few secondary ties (bank accounts, GIC maturing Mar 2010, credit ca...