Search found 14 matches
- Fri Feb 18, 2011 1:07 am
- Forum: Canada / United States Tax & Accounting
- Topic: Tax withholding on stock option benefits (CRA)
- Replies: 12
- Views: 10277
Note that everywhere I refer to stock options below for US purposes, I mean non-qualified stock options. I *think* in your case you are safe, since the entire time from grant to exercise your principal place of employment was the US company. Thus the bargain element of the stock option will be consi...
- Wed Feb 16, 2011 4:23 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Tax withholding on stock option benefits (CRA)
- Replies: 12
- Views: 10277
- Wed Feb 16, 2011 12:37 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Tax withholding on stock option benefits (CRA)
- Replies: 12
- Views: 10277
Treaty is pretty clear on stock options -- proportion of the time between grant date and exercise date that you were Canadian resident vs. US resident (as per treaty) will be used to determine how much is Canadian vs. US income. I believe RSUs are treated similarly. Note that just because it is a US...
- Wed Feb 16, 2011 11:08 am
- Forum: Canada / United States Tax & Accounting
- Topic: Tax withholding on stock option benefits (CRA)
- Replies: 12
- Views: 10277
- Wed Feb 16, 2011 11:05 am
- Forum: Canada / United States Tax & Accounting
- Topic: Tax withholding on stock option benefits (CRA)
- Replies: 12
- Views: 10277
Hi, I will assume you are a Canadian tax resident. ESPP: The difference between the FMV and the price you receive the shares at is income, reportable in this tax year. If your employer issues you a T4, the benefit would have been included on that; in the past, they wouldn't have remitted taxes at th...
- Thu Jan 27, 2011 11:39 am
- Forum: Canada / United States Tax & Accounting
- Topic: Moving Back to Canada: Simple Things + RSUs + Deferred Incme
- Replies: 5
- Views: 4169
Sorry, I know that was a monster of a post. I was hoping that each of the questions were fairly pointed, but I guess not. Yeah, using the working days out of country divided by *working* days in country really helps out with soaking up the FTCs. As far as I know, its even better than it looks, since...
- Thu Jan 27, 2011 3:22 am
- Forum: Canada / United States Tax & Accounting
- Topic: Moving Back to Canada: Simple Things + RSUs + Deferred Incme
- Replies: 5
- Views: 4169
Moving Back to Canada: Simple Things + RSUs + Deferred Incme
I've got some simple and some complex questions. Bear with me... My situation: Married, both earning good salary. Moving back to Canada from CA in mid-March after two years in US. Have some accumulated cap gains, a small 401(k), and a mid-sized RRSP with only a small gain (~+10%). House purchase clo...
- Tue Jan 25, 2011 11:01 am
- Forum: Canada / United States Tax & Accounting
- Topic: High Income, Form 2555?
- Replies: 3
- Views: 3076
I understand that 2555 only excludes some income, and I can use 1116 against the remainder (with adjustments). However, I've found that using 1116 against the full amount yields lower taxes than doing an exemption + credit. Just wanted to check that this seems right -- from the way the tax reduction...
- Tue Jan 25, 2011 10:57 am
- Forum: Canada / United States Tax & Accounting
- Topic: Moving Back from US, Impact on US Travel?
- Replies: 3
- Views: 2601
Thanks. Keep forgetting to check the treaty... good tidbit about 10 day rule not mattering for dual-status Canadians. So if I crystallize my gain pre-move, I'm subjecting myself to 15% federal + 9ish% (minus 3% credit) CA state tax, which is not good. If I crystallize post-move and elect full year 1...
- Tue Jan 25, 2011 2:13 am
- Forum: Canada / United States Tax & Accounting
- Topic: High Income, Form 2555?
- Replies: 3
- Views: 3076
High Income, Form 2555?
Hi, It seems like Form 2555 isn't worth it if you are a high-income individual. If I understand the worksheet correctly, the excluded income only reduces the first $x dollars of income, not at the marginal rate as I would have expected it would. In the event that you have a lot of foreign tax credit...
- Tue Jan 25, 2011 12:26 am
- Forum: Canada / United States Tax & Accounting
- Topic: Moving Back from US, Impact on US Travel?
- Replies: 3
- Views: 2601
Moving Back from US, Impact on US Travel?
Hi, From my reading on dual-status tax years, I am allowed to spend up to 10 days in the US after my exit date without it impacting my exit date for US tax purposes. If I elect to file as a full-year resident, then I *think* my exit date for US purposes will still matter in the event of capital gain...
- Sun Jan 23, 2011 11:14 am
- Forum: Canada / United States Tax & Accounting
- Topic: Treatment of Land Transfer Taxes!
- Replies: 4
- Views: 2862
Thanks to this site, I'm aware of using form 2555. One complication to going with a full-year MFJ 1040 filing is that I have some securities I was planning on selling once I ceased residency, though I am looking into deferring those sales into 2012. I'll have some more questions related to my situat...
- Sun Jan 23, 2011 12:55 am
- Forum: Canada / United States Tax & Accounting
- Topic: Treatment of Land Transfer Taxes!
- Replies: 4
- Views: 2862
- Sun Jan 23, 2011 12:52 am
- Forum: Canada / United States Tax & Accounting
- Topic: Treatment of Land Transfer Taxes!
- Replies: 4
- Views: 2862
Treatment of Land Transfer Taxes!
Hi, Do land transfer taxes paid upon purchase of a property in Canada count as "real estate taxes" for line 6 on form 1040 (assuming a full-year return)? It is an amount paid based on assessed value of property and subject to everyone purchasing homes -- but it seems too good to be true if...