Search found 75 matches
- Thu Jan 27, 2022 10:39 am
- Forum: Canada / United States Tax & Accounting
- Topic: How to get refund on Canada Private Pension withheld tax with rental property return
- Replies: 5
- Views: 1636
Re: How to get refund on Canada Private Pension withheld tax with rental property return
Thank you. While my private service pension is withholding 15% tax, I noticed that my CPP does not appear to be withholding tax. I am not sure whether what I get is already reduced. Is there a way to find out? The amount is small. Less than $5K since l lived in Canada for about 10 years before movin...
- Sun Jan 23, 2022 9:38 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How to get refund on Canada Private Pension withheld tax with rental property return
- Replies: 5
- Views: 1636
Re: How to get refund on Canada Private Pension withheld tax with rental property return
My US income is over $200K.Canadian net rental income is $5K last year and Canadian pension income is $12K.
I want to know whether I can get some tax refund from $1800 tax against my rental loss this year.
At least I can get credit on 1040 for 15% tax in Canada.
I want to know whether I can get some tax refund from $1800 tax against my rental loss this year.
At least I can get credit on 1040 for 15% tax in Canada.
- Wed Jan 05, 2022 11:11 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How to get refund on Canada Private Pension withheld tax with rental property return
- Replies: 5
- Views: 1636
How to get refund on Canada Private Pension withheld tax with rental property return
I have rental property in Canada and live in US. I file 216 return for income from property based on NR6 approved every year. Now I will be getting private employer pension for service in Canada which will withhold taxes. Is there a way to get refund of private pension tax withheld using 216 return ...
- Thu Mar 19, 2020 5:18 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Unemployment benefits for TN visa Job loss
- Replies: 8
- Views: 4272
Re: Unemployment benefits for TN visa Job loss
Thank you.
Does the payment come from Ontario or US state I worked in?
Is that credited to my US bank account or need Canada bank for that?
Does the payment come from Ontario or US state I worked in?
Is that credited to my US bank account or need Canada bank for that?
- Thu Mar 19, 2020 12:57 am
- Forum: Canada / United States Tax & Accounting
- Topic: best way to convert USD to CAD
- Replies: 10
- Views: 6890
Re: best way to convert USD to CAD
Schwab does it USD to CAD conversion for market rate as per XE.com at about 1% commission. Very competitive rates.
- Thu Mar 19, 2020 12:56 am
- Forum: Canada / United States Tax & Accounting
- Topic: Unemployment benefits for TN visa Job loss
- Replies: 8
- Views: 4272
Unemployment benefits for TN visa Job loss
I heard that if a TN visa holder loses job then unemployment benefits cannot be claimed in US but need to be claimed in Canada.
What is the process for claiming in Ontario?
What is the process for claiming in Ontario?
- 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: 2974
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 t...
- 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: 2974
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?
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?
- 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: 2974
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...
- 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: 2860
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 ...
- 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: 3363
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?
- 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: 3363
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?
- 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: 3363
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...
- 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: 2860
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?
Can I get medicare after age 65 by paying for part B, D & supplement or Medigap?
- 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: 2860
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...