Serbinski Accounting Firms

i am thinking more about this --

i will actually have ZERO income in california+fedreal, effective Dec 09. so -- if I do the ROTH conversion in Jan 2010, will i still take a tax hit? i would only suspect so, if the conversion results in regular income :(

Ok. Man another thing I need to worry about now!

What do you mean by the border comment? Are you suggesting Montana instead, since there is no state tax there but closer to Alberta? Confused by your proximity to the border comment.

I suppose I can tell them that I moved to Montana for a month to ...

Well, I did literally defer my 'move' to Canada to Feb 1 2010. So why not go all the way right?

Well, after crunching some numbers, I think I get it -- I need to 'move' to Washington for my ROTH conversion, as it is substantial. I'm thinking that I should 'move' to Spokane, close to Alberta.

But ...

Makes perfect sense.

Where are you living? If in Cali, can I buy you beers? :)

Thanks Nelson. So February 1 2010, I owe $1500 on my 1040 next year. And I owe a higher amount on my Canadian return since long term capital gains rates are higher. Do I owe each of the governments these respective amounts, or do i pay the lesser or higher to one only? Or am I somehow covered by the ...

let me see if I follow this. if I move feb 1 2010, with a $10,000 USD long term gain (I would only owe $1500 in taxes), but your saying my cost basis gets reset in canada to the higher price?

in other words if I sell a week after arriving in Canada my gain could substantially be substantially less ...

Hi Nelson, your advice has been very helpful so far. I was hoping you could help answer me one last question. Ive decided to make my 'move' in the 2010 tax year for Roth IRA purposes. I also called TD-Ameritrade, and they said I can hold all of my accounts there (USA with my new CAD address). They ...

Thanks nelsona, for all this helpful advice. And my apologies again for my tone in the prior note! I will give the Serbinski fellows a call.

Cheers,
Jamie

Nelsona, thanks for the quick reply!

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>>> Well the fact that you are working in AB in december means you will be filing a return in canada, starting Dec 1, so you can't avoid this.

A) Sure I'll be working -- but if I ask payroll to defer my cheque-deposits until Jan 2010, could I effectively ...

Hello all,

First time poster here, with four quick questions. Background first:

I am born a Canadian Citizen, now a naturalized US Citizen (for 3 years now) living single, who will be making the move back to Alberta from California to start a new job on December 1st 2009. I have been living off ...