Serbinski Accounting Firms

Left my TFSA behind long ago, but now that the limit is $46500 can it be profitable?
Wondered if the form had formed an consensus.

Hi MGeorge & Nelsona.
Thanks for your input. You've been helpful.
And Nelsona it's nice to see that there is an accounting topic that is kryptonite for the Serbinski Accounting firm forum--Bazinga!

Thanks for the reply. Do I understand you correctly that the penalty applies if you don't report the mutual fund to the IRS? Certainly, that makes a lot of sense, but I was referring more to the consequences of the increased tax payable "added" income from passive reporting vs a potential long term ...

Hi All,
Was just wondering if the form had any advise on the relative merits of keeping or selling a Cdn mutual fund to avoid any PFIC penalties. It seems to me that there may be instances where the tax burden on selling the mutual fund might be greater than the PFIC. Am I right or just confused? Is ...

Can any one confirm that the requirement to take a minimum distribution from an IRA account has been suspended for 2009?

I asked a tax guru about this and got the reply:

"The temporary waiver applies only to persons who receive a pension from an entity in which they are NOT a 5% or more ...