Search found 48 matches

by cullen
Wed Apr 28, 2021 7:24 am
Forum: Canada / United States Tax & Accounting
Topic: Child Care Expenses When Caring for Infirm Parent
Replies: 0
Views: 668

Child Care Expenses When Caring for Infirm Parent

If a spouse stays home to care for an infirm parent who is also a dependent and needs child care to free her up, are those expenses allowed? I only see exceptions for school or when the spouse themselves are incarcerated, or have an impairment. I guess that is why there is a caregiver amount Thanks ...
by cullen
Wed Oct 28, 2020 4:33 pm
Forum: Canada / United States Tax & Accounting
Topic: Section 217 and Alimony
Replies: 1
Views: 268

Section 217 and Alimony

It is my understanding that Alimony is not considered Canadian income for the purposes of Section 217 but is taxable by the US for recipients of Alimony from Canadian sources to a US Resident For a Sec 217 filing, does the Alimony then become part of world income when attempting to reduce the 25% ta...
by cullen
Tue Oct 20, 2020 12:39 pm
Forum: Canada / United States Tax & Accounting
Topic: Trading stocks in RRSP while Tax Resident in USA
Replies: 6
Views: 614

Re: Trading stocks in RRSP while Tax Resident in USA

You really should not be bouncing back and forth and declaring departure and entry that much. The treaty is going to more narrowly define your residency
by cullen
Wed Oct 07, 2020 9:06 am
Forum: Canada / United States Tax & Accounting
Topic: Living and working US on TN visa, getting 50% of wages on W2 and 50% to Canadian corp
Replies: 2
Views: 386

Re: Living and working US on TN visa, getting 50% of wages on W2 and 50% to Canadian corp

You will run afoul of the permanent establishment rules and be taxable in the US on the CDN corp income if you are not careful with the number of days you are in the US
by cullen
Tue Sep 22, 2020 8:40 am
Forum: Canada / United States Tax & Accounting
Topic: Joint accounts with income, NRA spouse
Replies: 11
Views: 4985

Re: Re:

Nevermind- I found it :)
IRM 4.26.16.3.1.2


cullen wrote:
> Can you supply a link to this ruling?
>
>
>
> ND wrote:
> > Mark,
> >
> > Regarding FBAR, the Treasury Department's Financial Crimes Enforcement
> > Network (FinCEN) states that, in determining whether an individual is a
> > U.S. resident for FBAR purposes, the election under which a nonresident
> > alien married to a U.S. citizen can be treated as a resident for tax
> > purposes is disregarded.
> >
> > Definition of “U.S. resident.â€￾ FinCEN clarified that, in determining
> > whether an individual is a U.S. resident, the elections under Code Sec.
> > 6013(g) (under which a nonresident alien married to a U.S. citizen or
> > resident can elect to be treated as a resident for tax purposes) and Code
> > Sec. 6013(h) (where a nonresident alien who becomes a U.S. citizen or
> > resident before the close of the tax year and is married to an individual
> > who is a U.S. citizen or resident on the last day of that tax year is
> > treated as a citizen for the entire year) are disregarded.
> >
> > source:
> > DEPARTMENT OF THE TREASURY
> > Financial Crimes Enforcement Network
> > 31 CFR Part 1010
> > RIN 1506–AB08
> > Amendment to the Bank Secrecy Act
> > Regulations—Reports of Foreign
> > Financial Accounts
> > AGENCY: Financial Crimes Enforcement
> >
> > exact text:
> >
> > Commenters also sought clarification
> > about the interaction of elections under
> > section 6013(g) and (h) of the Internal
> > Revenue Code and the definition of
> > resident. FinCEN wishes to clarify that
> > the determination of whether an
> > individual is a United States resident
> > should be made without regard to
> > elections under section 6013(g) or
> > 6013(h) of the Internal Revenue Code.
> > Network (FinCEN), Treasury.
> > ACTION: Final rule.
by cullen
Tue Sep 22, 2020 8:34 am
Forum: Canada / United States Tax & Accounting
Topic: Joint accounts with income, NRA spouse
Replies: 11
Views: 4985

Re:

Can you supply a link to this ruling?



ND wrote:
> Mark,
>
> Regarding FBAR, the Treasury Department's Financial Crimes Enforcement
> Network (FinCEN) states that, in determining whether an individual is a
> U.S. resident for FBAR purposes, the election under which a nonresident
> alien married to a U.S. citizen can be treated as a resident for tax
> purposes is disregarded.
>
> Definition of “U.S. resident.â€￾ FinCEN clarified that, in determining
> whether an individual is a U.S. resident, the elections under Code Sec.
> 6013(g) (under which a nonresident alien married to a U.S. citizen or
> resident can elect to be treated as a resident for tax purposes) and Code
> Sec. 6013(h) (where a nonresident alien who becomes a U.S. citizen or
> resident before the close of the tax year and is married to an individual
> who is a U.S. citizen or resident on the last day of that tax year is
> treated as a citizen for the entire year) are disregarded.
>
> source:
> DEPARTMENT OF THE TREASURY
> Financial Crimes Enforcement Network
> 31 CFR Part 1010
> RIN 1506–AB08
> Amendment to the Bank Secrecy Act
> Regulations—Reports of Foreign
> Financial Accounts
> AGENCY: Financial Crimes Enforcement
>
> exact text:
>
> Commenters also sought clarification
> about the interaction of elections under
> section 6013(g) and (h) of the Internal
> Revenue Code and the definition of
> resident. FinCEN wishes to clarify that
> the determination of whether an
> individual is a United States resident
> should be made without regard to
> elections under section 6013(g) or
> 6013(h) of the Internal Revenue Code.
> Network (FinCEN), Treasury.
> ACTION: Final rule.
by cullen
Sun Sep 20, 2020 9:39 pm
Forum: Canada / United States Tax & Accounting
Topic: Income source for remote work
Replies: 10
Views: 1227

Re: Income source for remote work

Generally, if you work remotely for a California based company as an independent contractor you will be subject to California tax. They do not follow the treaty This court case last year nailed that down. Some other states will follow https://ota.ca.gov/wp-content/uploads/sites/54/2019/12/18042733_B...
by cullen
Sat Jun 20, 2020 8:57 am
Forum: Canada / United States Tax & Accounting
Topic: RRIF lump sum withdrawal - Form 8833 Tax Treaty
Replies: 6
Views: 1050

Re: RRIF lump sum withdrawal - Form 8833 Tax Treaty

You must be in a state without an income tax or one that allows a foreign credit as not all states are hospitable to foreign income
by cullen
Fri Jun 05, 2020 11:49 am
Forum: Canada / United States Tax & Accounting
Topic: TFSA reporting for Canadian who moved to the US
Replies: 5
Views: 2105

Re: TFSA reporting for Canadian who moved to the US

Note :
"It applies only to trusts that are established and operated exclusively or almost exclusively to provide pension or retirement benefits, or to provide medical, disability, or educational benefits."

TFSAs do not fit these categories so we have to wait on additional inclusions
by cullen
Thu Jun 04, 2020 8:42 am
Forum: Canada / United States Tax & Accounting
Topic: TFSA reporting for Canadian who moved to the US
Replies: 5
Views: 2105

Re: TFSA reporting for Canadian who moved to the US

There is a possibility that the TFSAs will become exempt from information reporting - Last Feb the IRS exempted foreign trusts geared toward education, disability etc from the reporting and is allowing penalty abatement. They stated that other account classifications will be included shortly
by cullen
Wed Jun 03, 2020 10:45 am
Forum: Canada / United States Tax & Accounting
Topic: BC Low-Income Resident Contractor IRS Filing
Replies: 2
Views: 540

Re: BC Low-Income Resident Contractor IRS Filing

I would still file one - you don't want gaps in filing especially when you have to file an FBAR anyway
Do you pass the threshold for Specified Asset reporting?
by cullen
Sun May 31, 2020 5:31 pm
Forum: Canada / United States Tax & Accounting
Topic: US Child Tax Credit - What tax to use
Replies: 3
Views: 708

US Child Tax Credit - What tax to use

Dual US/Canadian Citizen with cross border income living in Canada I have both US and Canadian employment income and file as a resident in the US since I am a US citizen but now we live in Canada When I compute the US tax on my wages for the T2209, do I use the amount before the child tax credit or ...
by cullen
Mon Sep 25, 2017 10:57 pm
Forum: Canada / United States Tax & Accounting
Topic: Confusion on 1st California taxes after move from Canada
Replies: 1
Views: 1334

A 1040NR return is a separate return to start with even if you claim your wife as an exemption. If your wife has no US income there is nothing for her to file.

The community property rules would not apply since you are a non-resident - see publication 519
by cullen
Thu Jul 17, 2008 6:38 am
Forum: Canada / United States Tax & Accounting
Topic: CPP/QPP Overpayment for multi provincial employee (ON-QC)
Replies: 3
Views: 2679

Bingo!

I looked for that info on the Rev QC and CRA sites and followed every link that I foiund. Intuit Profile software did not pick it up either.

Thanks for your help