Serbinski Accounting Firms

Can Canadian dividends paid my a private corporation be classified as earned income for the US Earned Income Deduction ?

Thanks

This sounds crazy! So if I sell 50k to several states from a pick and pack warehouse located in Montana then I might have to file tax returns for each of those states?

Does a Canadian corporation that sells product to all states need to file state or franchise tax returns ? The corporation distributes its product via a pick and pack warehouse located in the United States.

Thanks for your thoughts.

Can anybody tell me whether the gain on sale of Canadian real property by a Controlled Foreign Corporation is subpart f income to the corporations US shareholders.


Thanks

Can anybody tell me whether the gain on sale of Canadian real property by a Controlled Foreign Corporation is subpart f income to the corporations US shareholders.


Thanks

Does the US have anything similar to the mandatory inventory adjustment used by Canadian farmers ? Can Canadian farmers book this adjustment anywhere legitimately on form F ?

Thanks

I can't e-file because efile does not accept my Canadian postal code. Anybody else have that problem ?

Seriously Nelsona ? Can you elaborate why you say this ?

Thanks

If a US citizen resides in the US with children and Green Card holder works and primarily resides in Canada, can:

1) child tax credit be claimed in a joint return ?
2) can amended returns be claimed on wife's "married filing seperatly" return before the spouse had Green Card and before the kids had ...

Thanks Nelsona...I learned something new !

Is this a really dumb question or did I not explain the situation clearly ?

Here is a question I can't seem to find an answer for and I'm sure it is a common situation.

Assume an asset has depreciation of $5000 and because of passive loss limitations the loss cannot be utilized. If the asset sells for more than the depreciated basis does the depreciation have to be ...

Or you could use a Certified Acceptance Agent located in Canada.

Thanks ND...I was not aware of that Article provision.

Assuming I apply that provision, do I apply the US FTC's to Canada for the amount of US tax paid (up to the Cdn tax paid) ?

Your comments are appreciated.

Thanks

I need help getting my head around this.

I purchased US property in 1976 for $ 41000

I took 1994 Cdn election to report
capital gain bumping up my Cdn ACB to 164,714

I sold the property in 2012 for: 275000

My question is do I claim US foreign tax credits on my Cdn return for US taxes paid on ...