Serbinski Accounting Firms

nelsona, I am doing a practice 2015 section 217 return to estimate how much we can withdraw from RRSP while keeping the tax to a minimum. In a number of posts you give a rough rule of thumb that a non-working spouse can withdraw from RRSP approximately personal amount + medical expenses + Canadian c...

nelsona, I am doing a 217 return for my non-working spouse with a RRSP withdrawal (both of us are US residents) but for some reason UFile desktop and online allow me to claim children's amounts, in addition to basic and medical. I enter my own income and see it on page 1 of my spouse's return but th...

With respect to method #1, more specifically "This matches with how IRS treats the withdrawal of non-deductible IRA funds": Please correct me if I am wrong but non-deductible IRA funds withdrawn from traditional IRA are taxed using proportional (#3) method. Withdrawing basis first tax and ...

If I understand correctly from this forum Roth conversions "break" the Roth IRA if made while living in Canada.

Would Roth be broken if a person establishes US residency in February 2012 and makes an IRA contribution for year 2011 with immediate Roth conversion?


Thank you

Thank you nelsona.

Could you explain why the following (from 2555 instructions, year 2010) would not apply: "Foreign earned income received in 2010 for services you performed in 2009 can be excluded from your 2010 gross income if and to the extent the income would have been excludable if you had received it in 20...

Thank you nelsona for the prompt reply. I am trying to do a rough estimate of which filing way would be best in 2012 and if I understand things correctly these are my options: 1. File jointly (as resident) entering Canadian and US wages, exclude Canadian wages using 2555 and use 1116 to get tax cred...

Hi, This being my first post I would like to thank this forum and its participants for providing an invaluable source of information. I am a Canadian citizen being transferred to US on L1 visa starting early November 2011. I will be commuting (flying to US on Monday coming back on Thursday) most wee...