Search found 25 matches

by Nelson
Wed Oct 27, 2004 2:31 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian Contractor with US work
Replies: 5
Views: 7612

I would.
Filing an 8233 just gets you out of withholding.

A 1040NR attests that indeed you did or did not owe taxes.
by Nelson
Wed Oct 27, 2004 2:30 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian Contractor with US work
Replies: 5
Views: 7612

There is no W-8 form, so I don't know what they sent you. You really shouldn't have anything to fill out, as they should simply be cutting you a check. period. However, your goal is to not have withholding, so I would be filling an 8233, disregarding that the work is not being performed in US. If yo...
by Nelson
Wed Oct 27, 2004 2:26 pm
Forum: Canada / United States Tax & Accounting
Topic: F1 non resident of Canada
Replies: 9
Views: 12503

... and when it comes to your TAship, it is only non-taxable in US if it is paid by a Cdn institution, or it is less than $10K US in the calendar year (which may have been the case in 2003; is is in 2004?).
Does this apply to you?
by Nelson
Wed Oct 27, 2004 2:25 pm
Forum: Canada / United States Tax & Accounting
Topic: F1 non resident of Canada
Replies: 9
Views: 12503

Huh? You're claiming the credit wrong. On schedule 1 there is a section for foreign tax credit. Use this and you will very likely get dollar for dollar CREDIT for those taxes. There is no provision to give a deduction for foreign taxes, on line 232 or anywhere else. How did you come up with that one...
by Nelson
Wed Oct 27, 2004 2:24 pm
Forum: Canada / United States Tax & Accounting
Topic: F1 non resident of Canada
Replies: 9
Views: 12503

So, once you include the Fed tax and the state tax as tax credits in Canada, you STILL have a 'huge' (your words, not mine)? I don't see how a 'portion' of your employment income would have been exempt (either it all should have been , or none of it should have been) but in any event, this doesn't h...
by Nelson
Wed Oct 27, 2004 2:22 pm
Forum: Canada / United States Tax & Accounting
Topic: F1 non resident of Canada
Replies: 9
Views: 12503

and you are paying no tax in US and sate?
by Nelson
Wed Oct 27, 2004 2:21 pm
Forum: Canada / United States Tax & Accounting
Topic: F1 non resident of Canada
Replies: 9
Views: 12503

The problem students face is two-fold. First, their F1 staus requires them to maintain residency outside US for immigration purposes, thus, you are on record as having a Cdn residence. Second, you days of presence in F1 are meaningless in terms of establishing US tax residency, since these are exemp...
by Nelson
Wed Oct 27, 2004 2:17 pm
Forum: Canada / United States Tax & Accounting
Topic: Social Security Contributions
Replies: 1
Views: 4280

There are several posts on this below, happy browsing. As long as he has worked or will work in Canada (or some other country with an SS agreement with US) for 4 other years he will get some ammount of SS. He will get HRDC to co-ordinate this in his early sixties. Nothing to worry aboout now except ...
by Nelson
Wed Oct 27, 2004 2:10 pm
Forum: Canada / United States Tax & Accounting
Topic: Keeping US Bank account open
Replies: 5
Views: 7462

First off, a bank account is not a sign of residency, in either US or Canada. HOWEVER, since you are a US citizen, you will ALWAYS have to file your taxes in US regardless of where you live. You will still eventually qualify for any Foreign income exclusion as long as you are physically out of US fo...
by Nelson
Wed Oct 27, 2004 2:00 pm
Forum: Canada / United States Tax & Accounting
Topic: Can TN Buy a house in USA?
Replies: 11
Views: 15460

Don't overthink this issue. Even Cdn tourists can own property in US, so a TN can obviously too. You need to have good Cdn credit history if you buy soon after entering US (I bought 12 days after arrival). You will need to deal locally, as on-line mortgage vendors will not take the time to look at y...
by Nelson
Wed Oct 27, 2004 1:57 pm
Forum: Canada / United States Tax & Accounting
Topic: Buying Empty Lot in Canada
Replies: 6
Views: 11087

Since it is not a possible residence, you are not in danger of establishing a residential tie. As to tax deductibility of the loan interest, of course the interest is tax-deductible in US, as an investment expense on Schedule A, as is the real estate taxes and all other normal expenses associated wi...
by Nelson
Wed Oct 27, 2004 1:54 pm
Forum: Canada / United States Tax & Accounting
Topic: Residential Ties from Rented House
Replies: 3
Views: 4784

Besides, as long as you truly LIVE your daily life in US, the tax treaty protects you from Cdn taxation on world income even if you have a house or cottage in Canada.
But with it rented out, it's not even a question.
by Nelson
Wed Oct 27, 2004 1:50 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian citizen working in Canada for US co.
Replies: 7
Views: 8822

As a Cdn-based employee, he would have no taxes to report in US. As to benefits, these would have to be negociated, as many benefits offered to US employees (exhorbitant health care plans, 401(k), etc) simply don't apply in Canada, and are of no benefit. Whomever the company contracted out to do the...
by Nelson
Wed Oct 27, 2004 1:48 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian citizen working in Canada for US co.
Replies: 7
Views: 8822

Very simple.
There are outfits in canada that do this.
by Nelson
Wed Oct 27, 2004 1:44 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian citizen working in Canada for US co.
Replies: 7
Views: 8822

As soon as you leave US, you don't need or use TN. You would only need TN (possibly) if you occasionally go to US to work in the office. They are required to set up a Cdn payroll for you, so that they will pay their share of EI and CPP, and withhold your share of EI, CPP, Fed and Prov taxes. You sho...