Serbinski Accounting Firms

You will need a PTIN, if you don't already have one. The requirements to become an Enrolled Agent then are pretty straightforward. I'm not sure how a Canadian person would get a PTIN, since the first requirement is to have a Social Security Number, but this article implies it can be done: https://ww...

Got a letter from Fidelity...they have noticed my Canadian address and after August 6, 2012, they will no longer be able to service my non-retirement account. No additional deposits of cash or securities allowed, no new security purchases. I can only sell positions and withdraw funds. So bottom line...

Yes, I'm still using xetrade and have been for over 5 years. Never had a problem...highly recommend them.

The US exempts from taxation the capital gains that result from the sale of a principal residence, just as Canada does.

It's a complicated situation for them, perhaps. I use a US mailing address for all my Fido accounts, because that eliminates the unnecessary and wasteful mailing of trade confirmations when I do trade ETFs/mutual funds in my retirement accounts. Only when you have a US mailing address will they stop...

Yes, I do have a non-retirement account at Fidelity but I don't use it to trade any stocks, bonds, or mutual funds. The account has only a cash reserves position that holds my US$ "emergency" funds.

As nelsona said, Fidelity is OK with allowing you to transact in retirement accounts from Canada...retirement accounts meaning traditional IRA and/or Roth IRA. No need to sell Vanguard funds to buy Fidelity when you make the switch. Just make sure you ask Fidelity to perform a "custodian to cus...

Yes, it is a problem. Vanguard does not allow account-holders who have a Canadian address to add new funds, buy new investments, or switch between investments (which is a sell/buy). Once Vanguard knows you are a Canadian resident, you will only be able to sell your holdings or reinvest dividends/cap...

Crikey, unbelievable. Thanks for setting me straight.

When you say you have almost no income, would that be less than US $9,350 in 2010, for example? If so, than strictly speaking, you don't need to file a US return at all. You would be under the amount of std. deduction + personal exemption (equivalent to Canadian basic personal amount) that would req...

No. Inheritance of liquid assets is a non-taxable, non-reportable event in either country. If the inheritance consists of property or investments (stocks, bonds, mutual funds, real estate), you should make note of the fair market value of the property as of the date of the person's death. When the p...

Good point about the line of credit...I hadn't considered those.

The FBAR filing requirement would seem to cover "prepaid credit card" accounts only. And by "prepaid", I assume they are talking about what I would call a "secured" credit card. If I have a poor credit history, or no credit history at all (landed immigrant, e.g.), I can...

Btw, the IRS has extended the deadline for the current OVDI program to Sept. 9, 2011 because of the likely disruptions to be caused by Hurricane Irene.

[quote="mcmoxley"]Btw, the IRS has extended the deadline for the current OVDI program to Sept. 9, 2011 because of the likely disruptions to be caused by Hurricane Irene.[/quote] What this forum needs is a good old-fashioned DELETE button for when the original poster puts something in the w...