Search found 102 matches
- Tue Apr 28, 2020 11:51 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canadians with SSN filing for stimulus check.
- Replies: 10
- Views: 2300
Re: Canadians with SSN filing for stimulus check.
Nelsona: Canadians like my wife and I, resident in Canada, who Collect Social Security, but who are not US citizens, do not receive a SSA-1099. We receive a SSA-1042S. It contains the same information as the SSA-1099, but it is sent to non resident aliens. Since it is stated that you must be a US ci...
- Tue Apr 28, 2020 4:35 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canadians with SSN filing for stimulus check.
- Replies: 10
- Views: 2300
Re: Canadians with SSN filing for stimulus check.
I just noticed this post. Everything I read about the stimulus checks says that to be eligible, you must be "U.S. citizens, permanent residents or qualifying resident aliens". I assume this means that Canadian residents who are not (or are no longer) US citizens, are not eligible, even if ...
- Sun Sep 29, 2019 10:11 am
- Forum: Canada / United States Tax & Accounting
- Topic: Exchange rate for Canadian income for WEP calculations
- Replies: 5
- Views: 1171
Re: Exchange rate for Canadian income for WEP calculations
Social Security uses the US Treasury Department exchange rate (https://www.fiscal.treasury.gov/reports-statements/treasury-reporting-rates-exchange/current.html ) for calculating WEP. Treasury Dept. rates are only updated quarterly, so you are not subject to day to day fluctuations while your WEP is...
- Mon Aug 19, 2019 12:10 am
- Forum: Canada / United States Tax & Accounting
- Topic: Case Studies: Social Security, WEP, and CPP
- Replies: 17
- Views: 3200
Re: Case Studies: Social Security, WEP, and CPP
formerpatriot: 6 months sounds about right. Like most governments, US departments operate in silos that don't share information. Change of citizenship is one of the things listed in https://www.ssa.gov/pubs/EN-05-10077.pdf, page 11. To make changes on your SS profile you have to submit a form SS-5 (...
- Wed Aug 14, 2019 6:51 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Case Studies: Social Security, WEP, and CPP
- Replies: 17
- Views: 3200
Re: Case Studies: Social Security, WEP, and CPP
I believe you are misreading that article. It was written for an American audience and it assumes that if you are receiving a “private” pension, it comes from employment with an American private company and you paid Social Security taxes on the income from that employment. On the other hand, if you ...
- Wed Aug 14, 2019 3:32 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Case Studies: Social Security, WEP, and CPP
- Replies: 17
- Views: 3200
Re: Case Studies: Social Security, WEP, and CPP
formerpatriot: From your previous posts, I can see that you are in a similar situation as me and my wife. If you have not applied for SS yet, here are some tips: 1) Start early. Our experience was a 4 month odyssey through the twists and turns of SS bureaucracy too numerous to relate here. 2) SS wil...
- Wed Aug 14, 2019 10:40 am
- Forum: Canada / United States Tax & Accounting
- Topic: Case Studies: Social Security, WEP, and CPP
- Replies: 17
- Views: 3200
Re: Case Studies: Social Security, WEP, and CPP
formerpatriot:
Go ahead.
Go ahead.
- Wed Aug 14, 2019 9:39 am
- Forum: Canada / United States Tax & Accounting
- Topic: Case Studies: Social Security, WEP, and CPP
- Replies: 17
- Views: 3200
Re: Case Studies: Social Security, WEP, and CPP
Can't see how. Don't think private messaging has been enabled on this forum.
- Tue Aug 13, 2019 6:21 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Case Studies: Social Security, WEP, and CPP
- Replies: 17
- Views: 3200
Re: Case Studies: Social Security, WEP, and CPP
As far as I know, a Canadian company pension would contribute to WEP. Note that there is a maximum dollar amount for WEP (https://www.ssa.gov/planners/retire/wep-chart.html ), so even if you have a large company pension plus CPP, WEP cannot totally wipe out your SS benefit. I just found this website...
- Tue Aug 13, 2019 8:33 am
- Forum: Canada / United States Tax & Accounting
- Topic: Case Studies: Social Security, WEP, and CPP
- Replies: 17
- Views: 3200
Re: Case Studies: Social Security, WEP, and CPP
To answer your questions: 1) Actually its not the Tax Treaty. There is a separate US-Canada Social Security Agreement (https://www.ssa.gov/international/Agreement_Pamphlets/canada.html#monthly ). You need at least 10 years of earnings under Social Security to get an SS benefit. If you have less than...
- Sat Aug 10, 2019 7:57 am
- Forum: Canada / United States Tax & Accounting
- Topic: Case Studies: Social Security, WEP, and CPP
- Replies: 17
- Views: 3200
Re: Case Studies: Social Security, WEP, and CPP
Andreww: For a more accurate estimate, I suggest you use the Social Security online calculator with WEP ( https://www.ssa.gov/planners/retire/anyPiaWepjs04.html ). It takes a bit of work because you have to manually enter your SS earnings record. If you are still working, you will need to estimate a...
- Fri Aug 09, 2019 10:49 am
- Forum: Canada / United States Tax & Accounting
- Topic: Case Studies: Social Security, WEP, and CPP
- Replies: 17
- Views: 3200
Case Studies: Social Security, WEP, and CPP
My wife is an ex USC (renounced in 2013) who has lived in Canada since 1987. She recently applied for her US Social Security, (and my Spousal Benefit) and because she has been receiving her CPP since last year, she was subject to WEP. During this process, I learned some surprising things about how S...
- Thu Jun 13, 2019 12:19 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Covered expatriate income tax
- Replies: 3
- Views: 847
Re: Covered expatriate income tax
As stated in the instructions, it is income TAX, not income.
- Wed Apr 03, 2019 4:11 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Old age security with Roth income
- Replies: 18
- Views: 2195
Re: Old age security with Roth income
Now I can't find the reference. I know I read last year on a government of Canada website that if you had less than 40 years of residency in Canada at age 65, and if you deferred starting your OAS, then the deferred time (up to 5 years) would first be applied to your residency until you reached 40 y...
- Wed Apr 03, 2019 12:52 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Old age security with Roth income
- Replies: 18
- Views: 2195
Re: Old age security with Roth income
Regarding whether it is worth deferring the start of OAS from age 65 to age 70: If you would receive the full OAS at age 65, waiting until 70 would increase your OAS by 36%, i.e. 7.2% per year. However, to receive the full OAS requires 40 years of Canadian residency after age 18. If you have less th...