Serbinski Accounting Firms

consider 9100 relief, see https://www.irs.gov/pub/irs-tege/eotopicb88.pdf

There are circumstances where kids' “unearned income” will instead be subject to trust income tax rates meaning that taxable income exceeding $12,500 (or so) will be taxed at the top rate of 37 percent. Under superseded law, under the “kiddie tax” rules, certain children are taxed at their parents' ...

double tax. don't use LLC, bad for Cdns

"W-9 is to prove to the bank that you are a US person, and are not subject to backup withholding. It is normal procedure for any bank/investment company dealing with a US person, inside US or outside." This is NOT the reason Cdn banks are requesting W-9> The requests are FATCA driven. The ...

CRA lets one amend many T1 items directly online at 'my account', see if you can simply do that to mark 2020 exit, bc if so, that will alleviate need to file amended return. Have done so for FTC claims.

Investigate 'The general rule is that any gift is a taxable gift. However, there are many exceptions to this rule. Generally, the following gifts are not taxable gifts. Tuition expenses you pay for someone (the educational exclusion). https://www.irs.gov/businesses/small-businesses-self-employed/fre...

RE: Most filers use tax ACCRUED on their 1116 (using the results of their Cdn tax return to figure the max credit), but there is another option: tax PAID by you in the tax year (and not refunded). Note that IRS says (e.g., in IRS FTC webinar available on IRS site) once accrued or paid is selected on...

Wayne Baxter wbaxter@onecapital.com who is a dually licensed broker-dealer who manages cross-border investments and has familiarity with cross-border tax
3075 Townsgate Road, Suite 350 Westlake Village, CA 91361 D: 805.719.4211 Toll Free: 877.348.0045 T: 805.409.8150 F: 805.870.7677

RE: That is why transfer "just before the sale" as you said previously was not coirrect. The only thing incorrect was your spelling of 'correct'. Sometimes these transfers can work out fine in one lump-sum before the sale. RE: Good source you found ND, please give them credit Good point. D...

Most USC Cdn residents who would face only IRS tax on house sale are NOT following your advice, instead they engage a lawyer and/or tax pro to plan for optimal result for any spousal transfers made prior to your sale and when planning is started (or effected) years ahead of a sale, often do a stradd...

If married to NRA, transfer to NRA before the sale

1042-S withholding

speak to marc@syndesus.com and see syndesus.com

Q25c isn't referring to 1040. https://www.law.cornell.edu/cfr/text/26/301.7701(b)-2 (x) The types of official forms and documents filed by the individual, such as Form 1078 (Certificate of Alien Claiming Residence in the United States), Form W-8 (Certificate of Foreign Status) or Form W-9 (Payer's R...