Serbinski Accounting Firms

US citizen living in Canada bought property bought in 2002 for CAN$2,000,000 sold in 2009 for CAN$2,000,000,no cap gain in Canada ,no taxes paid. However as US citizen subject to tax on worldwide income ,In '02 US= .63 in '09 worth .088,resulting on "gain "$500,000US. Would Article 13(4) o...

The US-Canada treaty allows Canadians with US source income to deduct donations made to US organisations.Quebec has taken a position that it is not bound by the treaty and is disallowing the donations since they were not made to a Canadian registered charity. HAs anyone else seen this issue.What res...

Thanks,but what I'asking is ,if a person did not yet file his 2002 return ,when would the 3 year deadline expire,April or June 15,2006?The question really is,is the due date April 15,but there is an extension(more of a "tolerance",since interest is charged as of April 15) provided of two m...

If a US citizen was living outside the US in 2002 ,the filing deadline was June 15,2003.When is the 3 year deadline to request a refund (eg.Additional child tax credit) in that case April 15 or june 15,2006?

Has the IRS levied penalties on late filed TD F forms?

That last comment took me by surprise. I understood that only accounts that had in excess of US$10,000 at any time in the year were required to be listed on the form. The post seems to be saying that if ,for example, one of ten accounts(typically an RSP account) had over $10,000 every single account...

I guess it depends on the definition of low income.as the benefit is paid per child a large family can still be earning a modest income and receive benefits. For example a family with 5 children earning $75,000 canadian would still receive over $10,000 in family allowance.(quebec resident)

Can you direct me to where I can find RP02-23 to be used for years prior to 2004?thank you

Thanks for the reply. However I can see that a family of five kids and an income of $75,000 US you can max out at $5,000 of a refund using the 1116 and exemptions and other deductions etc.. With close to $100,000 Canadian income adding that $5,000 US would cost close to 50%,so thanks for the answer ...

Since 2001 the ACTC has been available to US citizens living in Canada with eligible children. Is the amount received, taxable in Canada? In addition, is federal (and Quebec) family allowance received to be reported on the 1040?