Serbinski Accounting Firms

@innaliza i should have been more clear. i meant that statement in regards to taxes on short-term vs long-term gains. since i had losses, i can deduct that against income.

oops, my bad. i meant 10d "capital gains". "keep the loss for future....and only then can you claim a loss on schedule A." if i lost $1000 in 2011 due to transfers, and when i collapsed earlier this year i incurred another loss of $500, does that mean in 2013 when i file for my 2...

after becoming a US resident last year, i consolidated my 3 RRSP accounts into 1 by making transfers. but since they were mutual funds, they had to be sold into cash before transfer, both at a loss. line 9d says capital gains only. i've been using taxact to fill out these forms, but their software w...

hello, i'm a little bit confused on how i should be reporting my capital gains/losses. due to lack of planning on my part, i did _not_ liquidate my investments prior to becoming a US resident. i had regular and RRSP accounts with money tied up. as i was liquidating and moving money to the US, my ass...

i've only seen penalties for filing late if you owe tax, but nothing if you're getting a refund. my wife doesn't have a valid SSN, so she will need to apply for an ITIN through the W-7. a couple questions... 1) if there's no penalty, should i still bother filing for an extension? 2) leave my spouse ...

thanks for the quick reply! i have a lot more confidence now.

i've read and read a bunch on this great forum, and i'm about to get ready to start filling out everything. i just wanted to list all the required steps so it's easy to find in one place. please correct me if any of my assumptions are wrong. this is for someone who was resident alien with RRSPs and ...

I only ask because sometimes the departure date matters. Thank you for the clarification :)

If you are deemed a US resident prior to closing your TFSA (but still within the same year), do you still need to file 3520? Thanks.

i fully collapsed my RRSP. i put in the request back in dec 2011, but because my broker took waaaaay too long, the money didn't get transferred over until jan 2012. the form 8891 asks for the value of the RRSP at end of year, so does that mean i will need to defer for 2011, and report the distributi...

thank you for the quick response.

i ask about the TD/TN situation because it's likely that the contract for my wife's TN will be shorter than my own, so whether being able to hold both would affect what she has to do when her contract expires.

Hi, my wife has a potential job prospect, but the company requires that they pay to a corporate entity like an LLC, for tax/liability reasons. From my understanding, you cannot sponsor yourself for the TN, but would it be legit for the company to create an offer letter that says something like "...

hello, i'm trying to look at all the broker websites but can't seem to have any luck. are there any brokers that let you hold your securities in both USD and CAD (similar to how questrade allow canadians to do the same)?

thanks!

Hello, I read a lot of advice about stepping up your cost basis to reduce taxes when moving your RRSP into the US. Dumb question....if everything in my RRSP is in cash form already (not invested in any securities whatsoever), or if I sold everything prior to departure, then that is effectively the s...

thanks for the reply!

[quote="nelsona"]You cannot make trades from a Cdn broker when physically in US.[/quote]
i only have 2 open ETF positions....what are the penalties? are brokers in the US allowed to transfer my positions in kind across the virtual border?