Search found 69 matches

by NewCanadian
Fri Jan 17, 2020 9:29 am
Forum: Canada / United States Tax & Accounting
Topic: Tax on 401K withdrawal after becoming US non resident
Replies: 5
Views: 749

Re: Tax on 401K withdrawal after becoming US non resident

Thank you. I plan to stay only couple of winter months in India and split remaining time equally between US & Canada. On retirement, I will most likely be Canadian resident paying taxes on world income. I plan to available medicare by paying part B plus high deductible medicare supplement plan to co...
by NewCanadian
Wed Jan 15, 2020 8:26 pm
Forum: Canada / United States Tax & Accounting
Topic: Tax on 401K withdrawal after becoming US non resident
Replies: 5
Views: 749

Re: Tax on 401K withdrawal after becoming US non resident

Thank you.
So partial withdrawal of say $50,000 per year from 401K will have US tax withholding of $7,500
Is MFJ allowed for 1040NR?
If yes, then would same standard deduction apply for non residents?
by NewCanadian
Sun Jan 12, 2020 11:40 pm
Forum: Canada / United States Tax & Accounting
Topic: Tax on 401K withdrawal after becoming US non resident
Replies: 5
Views: 749

Tax on 401K withdrawal after becoming US non resident

I lived in Canada before coming to US. I worked for 10 years in US and have significant 401K. I do not have US green card. I lived in India before coming to Canada. My question is on taxation on withdrawal from 401K. Is there a tax withheld for US non resident on 401K withdrawal? If yes, what are th...
by NewCanadian
Sun Oct 13, 2019 7:57 am
Forum: Canada / United States Tax & Accounting
Topic: Working in US on work visa beyond age 65
Replies: 4
Views: 721

Re: Working in US on work visa beyond age 65

Would it be possible to live in Canadian border town closer to grand kids, drive to US to work after age 65, avail medicare across the border while maintaining a small rental apartment in US and continue to be Canadian tax non resident at the same time and continue to file 1040 while filing NR6 for ...
by NewCanadian
Fri Oct 04, 2019 5:09 pm
Forum: Canada / United States Tax & Accounting
Topic: Exchange rate for Canadian income for WEP calculations
Replies: 5
Views: 531

Re: Exchange rate for Canadian income for WEP calculations

Thank you all. I would assume that spousal SS payment would be half of my SS before WEP is applied. Right?
by NewCanadian
Fri Oct 04, 2019 5:08 pm
Forum: Canada / United States Tax & Accounting
Topic: Exchange rate for Canadian income for WEP calculations
Replies: 5
Views: 531

Re: Exchange rate for Canadian income for WEP calculations

Thank you all. I would assume that spousal SS payment would be half of my SS before WEP is applied. Right?
by NewCanadian
Wed Sep 25, 2019 10:58 pm
Forum: Canada / United States Tax & Accounting
Topic: Exchange rate for Canadian income for WEP calculations
Replies: 5
Views: 531

Exchange rate for Canadian income for WEP calculations

I am assuming that Canadian employer pension (No cola) plus CPP at start of pension is the amount used for WEP reduction for Canadian who would get social security. Is exchange rate applied one time at start of SS to this C$ income for WEP reduction for a fixed reduction lifelong or depending of ave...
by NewCanadian
Wed Sep 25, 2019 2:52 pm
Forum: Canada / United States Tax & Accounting
Topic: Working in US on work visa beyond age 65
Replies: 4
Views: 721

Re: Working in US on work visa beyond age 65

Thank you.
Can I get medicare after age 65 by paying for part B, D & supplement or Medigap?
by NewCanadian
Mon Sep 23, 2019 10:09 pm
Forum: Canada / United States Tax & Accounting
Topic: Working in US on work visa beyond age 65
Replies: 4
Views: 721

Working in US on work visa beyond age 65

Canadian citizen. Came to US few years ago on TN visa from employer.On US payroll currently. Continuing renewal of TN visa every 3 years. Few years down the road, I will be retiring at age 65 from my employer. My employer is happy with my work and has suggested me that I can work as a contract or ag...
by NewCanadian
Tue Oct 21, 2014 8:07 am
Forum: Business & Personal Immigration to the United States
Topic: H1B Loss of job- What are my options to return
Replies: 8
Views: 10644

Nelsona- My wife is on part time TN visa for a university as a PhD guide and although she has many students for whom she is the chair and many others on whose she is on the PhD committee, she get paid as their PhD progresses and not based on time. She has been doing this for last 5 years with one re...
by NewCanadian
Sun Oct 19, 2014 9:09 am
Forum: Business & Personal Immigration to the United States
Topic: H1B Loss of job- What are my options to return
Replies: 8
Views: 10644

Switching to TD as dependent

My wife holds TN visa. Is switching to TD by mail without having to visit border an option?

I was trying to avoid H1B to TD and back if I get another job but if no other option is viable, I may be left with only that option.
by NewCanadian
Sat Oct 18, 2014 9:36 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian citizen leaving US- Owned house- Lease or sell
Replies: 3
Views: 1185

Canadian citizen on work visa to US.
by NewCanadian
Sat Oct 18, 2014 9:36 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian citizen leaving US- Owned house- Lease or sell
Replies: 3
Views: 1185

Canadian citizen on work visa to US.
by NewCanadian
Sat Oct 18, 2014 6:43 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian citizen leaving US- Owned house- Lease or sell
Replies: 3
Views: 1185

Canadian citizen leaving US- Owned house- Lease or sell

I posted in other forum. If I have to leave US suddenly, I can put my basic stuff in a storage and rent my home in US? I have got a very good mortgage rate so rent would cover all expenses including property manager expenses and still 60% of mortgage would add to equity. Sooner or later, I have to s...
by NewCanadian
Sat Oct 18, 2014 6:24 pm
Forum: Business & Personal Immigration to the United States
Topic: H1B Loss of job- What are my options to return
Replies: 8
Views: 10644

Nelsona- Thanks. My house in Canada is on lease and I can avoid staying in Canada in middle of winter by going to milder places of my home country where I always have a owned home available where I visit. I want to return to Canada only after exhausting all possibilities of return to my current empl...