Search found 5 matches

by Pedro328
Tue Feb 28, 2012 10:55 pm
Forum: Canada / United States Tax & Accounting
Topic: Foreign Tax Credit - Line 47 of 1040
Replies: 1
Views: 1609

Foreign Tax Credit - Line 47 of 1040

Hi, Myself and My wife both work in the US but live in Canada (daily commuters). I am working through a TN Visa and my wife is a US/Canada Dual citizen. We are trying to complete our taxes ourselves for the first time. We are filing a joint 1040 and we are wondering about line 47 "foreign tax c...
by Pedro328
Tue Dec 20, 2011 12:32 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian Commuter working in US - need to save tax with IRA
Replies: 6
Views: 3681

Great, Thankyou very much.. I am going to review my 2010 taxes as well to see how it was previously filed.
by Pedro328
Tue Dec 20, 2011 11:29 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian Commuter working in US - need to save tax with IRA
Replies: 6
Views: 3681

I am Married, and my wife also works in the US. (This is sort of new, last year she worked for a US company but as a sole proprieter). My tax situation has been relatively simple and I haven't had to pay tons at tax time, however my wifes was a diferent story (obv. since she was sole proprieter). Wh...
by Pedro328
Tue Dec 20, 2011 9:28 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian Commuter working in US - need to save tax with IRA
Replies: 6
Views: 3681

Thanks so much for the input. The only point I don't understand is why is the IRA only going to save me on US tax. In the description of the Fifth protocal in the announcement at the top of this forum it says "Mutal recognition of RRSP and IRA/401(k) contributions;" ?

Thanks,
by Pedro328
Mon Dec 19, 2011 10:47 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian Commuter working in US - need to save tax with IRA
Replies: 6
Views: 3681

Canadian Commuter working in US - need to save tax with IRA

Hi, This if my first post on the site but I have been reading and it is very infomative. I live in a border city and have been working in the US while living in canada (daily commuter) for the last 4 years under a TN Visa. I am realizng that I am going to pay a ton of income tax this year in canada ...