Search found 30 matches
- Thu Dec 15, 2022 10:35 am
- Forum: Canada / United States Tax & Accounting
- Topic: Revenue Canada Review Help
- Replies: 5
- Views: 6552
Re: Revenue Canada Review Help
I understand your frustration. Most of our cross-border clients get there FTCs reviewed on an annual basis and we have to constantly communicate with the department to show them our FTC calculations. We've also had many long processing time waits for 1040s. That being said, after making the move to ...
- Thu Oct 06, 2022 11:32 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Cross-Border Tax Videos
- Replies: 4
- Views: 3632
Cross-Border Tax Videos
Hi everyone I thought this would be a great place to get some feedback. I've been doing some cross-border videos and would love to get some feedback. Here are some examples: https://youtu.be/knK1lidxAHE https://youtu.be/KslX8ml-J3s Here is the main channel: https://www.youtube.com/c/PhilHoganCPA/vid...
- Fri Sep 11, 2020 9:17 am
- Forum: Canada / United States Tax & Accounting
- Topic: RPP rollover to Roth IRA
- Replies: 4
- Views: 2136
Re: RPP rollover to Roth IRA
We're seeing lots of clients move back to Canada. Many had plans originally and now are finally making the move.
This resource may help:
https://philhogan.com/ira-401k-and-us-i ... dians-faq/
This resource may help:
https://philhogan.com/ira-401k-and-us-i ... dians-faq/
- Sun Jan 20, 2019 7:35 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Planning for excess funds in CCPC
- Replies: 2
- Views: 4165
Re: Planning for excess funds in CCPC
Hi Richard This can get tricky. The answer will depend on several factors: - Assuming the company is a CFC and had retained earnings in 2017, did you 1040 for 2017 include 965 calculations? - As a CFC you'll also be subject to GILTI for 2018. Have you access these requirements yet? see here https://...
- Sun Jan 20, 2019 6:37 pm
- Forum: Canada / United States Tax & Accounting
- Topic: IRAs for non resident citizens
- Replies: 41
- Views: 18463
Re: IRAs for non resident citizens
Hi Coco This has become a huge issue for out clients. I've had over 10 clients with Fidelity be forced to close their accounts and in one case Fidelity forced a de-registration of a large IRA. Luckily we were able to reverse the transfer before the client cash the cheque they sent. Fidelity is not t...
- Sat Oct 18, 2014 8:00 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian citizen leaving US- Owned house- Lease or sell
- Replies: 3
- Views: 3098
- Tue Oct 14, 2014 6:14 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian Corporation Contracting in US Tax
- Replies: 4
- Views: 3200
- Wed Oct 08, 2014 10:33 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How do I report my Canadian refund on U.S. return
- Replies: 9
- Views: 5471
- Sun Oct 05, 2014 6:16 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Goodbye to IRS
- Replies: 36
- Views: 21815
- Wed Jul 02, 2014 11:45 pm
- Forum: Canada / United States Tax & Accounting
- Topic: reasonable price for accounting dual citizen
- Replies: 7
- Views: 5304
Not sure that I can complete the returns for (Canadian and US), but if they are relatively simple I should be able to get everything done for less than $2,000. I'm in Victoria, and at the very least I could point you in the right direction. Please give me a call and I'll see if I can help. Cheers Phil
- Sun Sep 29, 2013 1:02 pm
- Forum: Canada / United States Tax & Accounting
- Topic: New 3.8% Obamacare Tax on investment income - Canadian tax
- Replies: 17
- Views: 11880
ok then. So lets use an example: US citizen living in Canada reports a $100,000 capital gain and pays (for argument sake) 15% plus 3.8% tax. Before the 3.8% came in the taxpayer would pay $0 taxes because the gain was resourced. Are you saying that they now will still pay $0 US taxes because the ful...
- Sat Sep 28, 2013 6:07 pm
- Forum: Canada / United States Tax & Accounting
- Topic: New 3.8% Obamacare Tax on investment income - Canadian tax
- Replies: 17
- Views: 11880
- Fri Sep 27, 2013 5:50 pm
- Forum: Canada / United States Tax & Accounting
- Topic: New 3.8% Obamacare Tax on investment income - Canadian tax
- Replies: 17
- Views: 11880
New 3.8% Obamacare Tax on investment income - Canadian tax
Has anyone considered the implication on the Canadian returns with respect to foreign tax credits available on the 3.8%? Let assume taxpayer A earns 100% of their investment income from US sources. Will they be able to claim a foreign tax credit for the 3.8%. It's really an interesting questions. Re...
- Tue Jan 29, 2013 2:29 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Does on-line filing of the FBAR work well?
- Replies: 5
- Views: 3652
- Mon Jan 28, 2013 1:49 am
- Forum: Canada / United States Tax & Accounting
- Topic: Cross border brokerage/withholding taxes on dividends issues
- Replies: 4
- Views: 3451
If you were considered a non-resident of Canada for the first 3 months the taxes withheld will be your final Canadian taxes. The dividends and capital gains will be taxable on your US return and you'll be able to take a credit for the taxes withheld on the dividends via form 1116. No Canadian tax on...