Search found 296 matches

by ND
Wed Jul 17, 2024 4:10 pm
Forum: Canada / United States Tax & Accounting
Topic: US Estate Tax and the $60,000 treshold
Replies: 2
Views: 107

Re: US Estate Tax and the $60,000 treshold

RE: A foreign person does not enjoy the same exemption as a US person, so do not rely on that. A Cdn does via treaty enjoy on a pro-rated basis (US situs assets over w/w assets) the same exemption as a US person, so DO rely on that. Therefore, RE: I realize that he won't owe any taxes to the IRS sin...
by ND
Tue Jul 02, 2024 8:18 am
Forum: Canada / United States Tax & Accounting
Topic: Income tax for Canadian working for US company
Replies: 11
Views: 875

Re: Income tax for Canadian working for US company

A Cdn PEO would make you a proper Cdn employee and then you'd receive T4.
by ND
Mon Jul 01, 2024 1:24 pm
Forum: Canada / United States Tax & Accounting
Topic: U.S. LPR working remotely in Canada Question
Replies: 2
Views: 290

Re: U.S. LPR working remotely in Canada Question

On the IRS side, make sure to comply with 8938 and FBAR requirements regarding non-USA accounts and assets.
by ND
Mon Jul 01, 2024 1:22 pm
Forum: Canada / United States Tax & Accounting
Topic: Income tax for Canadian working for US company
Replies: 11
Views: 875

Re: Income tax for Canadian working for US company

The company needs put you on a T4A or make a T4 arrangement with a Cdn PEO. If instead it issues you 1099-NEC, it's ideal for you to file a NIL 1040NR with IRS explaining why reporting NIL vs the 1099-NEC IRS expects.
by ND
Sat Apr 20, 2024 11:33 pm
Forum: Canada / United States Tax & Accounting
Topic: Living in US for 15 years - Just tuning into RRSP challenge!
Replies: 9
Views: 3765

Re: Living in US for 15 years - Just tuning into RRSP challenge!

say that to Frommontreal2AZ. I responded to his 2024 addition
by ND
Tue Mar 05, 2024 10:39 pm
Forum: Canada / United States Tax & Accounting
Topic: Living in US for 15 years - Just tuning into RRSP challenge!
Replies: 9
Views: 3765

Re: Living in US for 15 years - Just tuning into RRSP challenge!

Fug 1 2. Should I get compliant with 8938 and FBAR before I make this change? If so, how does one go about doing that? Amend my previous 3 years of returns? file streamlined amended 1040s before it closes. https://www.irs.gov/individuals/international-taxpayers/us-taxpayers-residing-outside-the-unit...
by ND
Tue Mar 05, 2024 10:36 pm
Forum: Canada / United States Tax & Accounting
Topic: Living in US for 15 years - Just tuning into RRSP challenge!
Replies: 9
Views: 3765

Re: Living in US for 15 years - Just tuning into RRSP challenge!

IR-2014-97, Oct. 7, 2014 The Internal Revenue Service today made it easier for taxpayers who hold interests in either of two popular Canadian retirement plans to get favorable U.S. tax treatment and took additional steps to simplify procedures for U.S. taxpayers with these plans. As part of this, th...
by ND
Tue Mar 05, 2024 10:33 pm
Forum: Canada / United States Tax & Accounting
Topic: Living in US for 15 years - Just tuning into RRSP challenge!
Replies: 9
Views: 3765

Re: Living in US for 15 years - Just tuning into RRSP challenge!

Nelsona - can you pls cite the source for saying 'You need to produce at the least the last 3 years of form 8891'? Just curious how you know that once the 8891 requirement was dropped years ago, cannuckinpa would now need to file those? My gut reaction would have been otherwise. cannuckinpa consider...
by ND
Tue Mar 05, 2024 10:20 pm
Forum: Canada / United States Tax & Accounting
Topic: 1099 for work performed in Canada
Replies: 7
Views: 11390

Re: 1099 for work performed in Canada

thank you my parrot sarahlly unless you're a chatbot
by ND
Tue Feb 27, 2024 4:32 pm
Forum: Canada / United States Tax & Accounting
Topic: RRSP Withdrawal FreeTaxUSA
Replies: 1
Views: 405

Re: RRSP Withdrawal FreeTaxUSA

Questrade does have EIN, which you can use free online EIN finders to locate FYI in context of 1065 Schedule K-1 and K-3 the IRS has issued a statement concerning the removal of FOREIGNUS as a taxpayer identification number (TIN). If the foreign partner does not have a valid SSN or TIN, then enter 0...
by ND
Tue Feb 27, 2024 4:28 pm
Forum: Canada / United States Tax & Accounting
Topic: Tax Filing Software
Replies: 6
Views: 985

Re: Tax Filing Software

Drake
by ND
Tue Feb 27, 2024 4:26 pm
Forum: Canada / United States Tax & Accounting
Topic: How to report RRSP withdrawal/closure on Form 8938?
Replies: 2
Views: 466

Re: How to report RRSP withdrawal/closure on Form 8938?

use the open/close form boxes, tick 'closed' in your case
by ND
Tue Feb 27, 2024 4:25 pm
Forum: Canada / United States Tax & Accounting
Topic: US and Canada Tax questions on sale of a US House
Replies: 15
Views: 2430

Re: US and Canada Tax questions on sale of a US House

"can I qualify for the principal residence exemption, similar to US residents, and not have to report the sale to the IRS for the 2023 Tax Return?' There is a false premise embedded in this question. When US property is sold, Form 1099-S is filed with IRS and when claiming PRE, the sale, gain a...
by ND
Tue Feb 27, 2024 4:15 pm
Forum: Canada / United States Tax & Accounting
Topic: W-8BEN Rev 2021 - Question 6a/6b
Replies: 3
Views: 517

Re: W-8BEN Rev 2021 - Question 6a/6b

put SIN on 6a, leave 6b blank. 6b is only checked when your country doesn't issue you a tax ID.