Serbinski Accounting Firms

Thanks - what do you mean by file dual status?

Thanks. I sold the investment property while a resident. I continue to have a small ownership interest in a second rental property - income from which is taxed under s 216, and which I have no plans to sell while a non-resident. I am declaring the property sale on my Canadian return and on my 1040, ...

I've posted on this forum before and have found it very helpful. I would appreciate some advice. My situation is as follows: Canadian resident and dual citizen until September 6, 2012. Moved to the US at that time. For 2012, while a resident of Canada, I had rental income, independent research incom...

Nice. Antagonize me, then sit back and rub you're hands together at my reaction to it. You're right, you ARE exonerated.

And how in letting the "entire post speak for itself" are you exposing me as someone who is a nuisance/fraud? I am asking questions, to anyone on the forum. If you feel taken advantage of, don't respond. And you're right, I would never pay you to help me with my taxes. Because you are a sc...

Since when did this turn into an attack on me? I AM a student. A law student, actually. I thought this forum was for advice - which is what it is held out to be. I am going to see an accountant to file my US tax returns - that's not a "story". I DO have a tax issue that I am trying to reso...

"weeding out"? Im sorry if Im a nuisance to you.

One final thing, if i did incorporate, it would be as a can res, but non-CCPC corporation (because corp would retain residency in Cda, de facto and de jury control 50-50 NR-R) allowing that the tax rate would be around 46% for investment income and ineligible for credit for $$ dividended out to the ...

Not a corp, still personal business partnership. I am competent to file my Cdn tax returns, on the US side will use an accountant who knows both regimes and provide my Cdn tax info to that person, thanks again

Yes, as a layperson you are correct it is difficult to decipher the tax rules on both sides of the border that will apply to my situation. The withholding regime is not terrible, because it is only 25% of net. the consequences on a sale of the properties while Im a non-resident are punitive, however...

What are they? How would a Cdn corporation that is not a CCPC be taxed on investment income (rental income from real estate, passive)? Assuming a dividend to one shareholder only of about 50% of the corporation's net income, and retention of the rest of the income within the corporation as a reserve...

I wasn't trying to name call and believe me, your assistance is invaluable. I only felt that JCGA's responses were a bit harsh. Im not claiming poverty - I am not working and don't want to hire an accountant unless I have to because it would be a significant expense at this time. Moreover, I was rep...

thx, i appreciate the advice but really no need to be a jerk about it

Thanks, Im a student so obviously under budget constraints, or else I would absolutely get an accountant. Does anyone know if i need to claim depreciation if the rental income was only from renting my principal res for a few months while away for school? The income was >$3500 and only for one year.