Search found 21 matches
- Mon Sep 19, 2016 5:28 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian w US green card - apply US citizen, move back?
- Replies: 7
- Views: 3219
Re: Canadian w US green card - apply US citizen, move back?
[quote="CanadianN-400"]Hello! .. Lastly - after I move back to Canada I will be looking for a tax advisor / firm to take care of both my Canadian and US tax needs. ... thank you[/quote] If you are in the Vancouver area, you can consider SKL Tax. I've used them, as well as some other people...
- Mon Sep 19, 2016 5:23 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian w US green card - apply US citizen, move back?
- Replies: 7
- Views: 3219
Re: Canadian w US green card - apply US citizen, move back?
[quote="CanadianN-400"]Hello! ... I am not a tax expert! What major considerations am I missing? ... [/quote] Ways that a USC in Canada can end up owing taxed: - Gains above $250K USD on the sale of your principal residence are taxed (exclusion is $500K USD for a USC couple). - Gains in th...
- Mon Sep 19, 2016 5:06 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian w US green card - apply US citizen, move back?
- Replies: 7
- Views: 3219
- Fri Feb 06, 2015 8:44 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Just found out - am I bankrupt now?
- Replies: 53
- Views: 30424
relinquish?
@mrbacon You said you "looked up renouncing citizenship and it looks absolutely brutal, way more expensive than complying". Again, I'm not sure what you mean. There's a $2350 fee to renounce, but that's the "only" additional cost. Note that it sounds like you *might* (emphasis &q...
- Fri Feb 06, 2015 8:18 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Just found out - am I bankrupt now?
- Replies: 53
- Views: 30424
- Fri Feb 06, 2015 5:46 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Just found out - am I bankrupt now?
- Replies: 53
- Views: 30424
Re: Getting compliant
Link above is borked because the period was incorrectly incorporated into it.
Streamlined Program:
http://www.irs.gov/Individuals/Internat ... Procedures
Streamlined Program:
http://www.irs.gov/Individuals/Internat ... Procedures
- Fri Feb 06, 2015 5:43 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Just found out - am I bankrupt now?
- Replies: 53
- Views: 30424
Getting compliant
You can get compliant using the Streamlined Program - it's the official way for non-resident non-filers to get compliant. There will almost certainly be no penalties (I've yet to hear of any), but there may be back taxes plus interest. Ignore/Avoid/Run from OVDP (unless you are a genuine tax evader)...
- Thu Nov 20, 2014 7:13 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Does the IRS recognize Canadian common law marriage?
- Replies: 4
- Views: 4329
- Wed Apr 23, 2014 9:29 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Taxation of Income from Joint Accounts: U.S. vs. Canada
- Replies: 13
- Views: 8916
[quote="rlb"]tdott, re form 8854. Nope. Not, at least, according to Phil Hodgen's presentations. ... [/quote]
I'm not so sure, Phil Hodgen seems to say that you can divide community property here: http://hodgen.com/community-property-an ... nce-sheet/
I'm not so sure, Phil Hodgen seems to say that you can divide community property here: http://hodgen.com/community-property-an ... nce-sheet/
- Wed Apr 23, 2014 8:12 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Taxation of Income from Joint Accounts: U.S. vs. Canada
- Replies: 13
- Views: 8916
- Mon Jan 20, 2014 5:18 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Pre- US naturalization but return to Canada: Should I do it?
- Replies: 9
- Views: 4885
- Mon Jan 20, 2014 5:03 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Pre- US naturalization but return to Canada: Should I do it?
- Replies: 9
- Views: 4885
- Mon Jan 20, 2014 3:13 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Pre- US naturalization but return to Canada: Should I do it?
- Replies: 9
- Views: 4885
- Mon Jan 20, 2014 2:42 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Pre- US naturalization but return to Canada: Should I do it?
- Replies: 9
- Views: 4885
You would file a 1040. You will have to make this decision on a personal level - nobody can do it for you. However, one thing to be aware of is that the US taxes multiple things that are tax-free in Canada, so a Canada-resident US citizen can indeed end up owing taxes to the US: - If you sell your p...
- Thu Sep 26, 2013 4:54 pm
- Forum: Canada / United States Tax & Accounting
- Topic: A Canadian mutual fund that provides PFIC/QEF statements
- Replies: 24
- Views: 22381