Search found 10 matches
- Wed Feb 28, 2018 8:02 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Form 3520 gift from foreign person
- Replies: 0
- Views: 8748
Form 3520 gift from foreign person
Just wondering what IRS means by "a person related to a foreign corporation" If an alien gives gift US resident from their after tax personal account, and said alien owns a CCPC does that make that mean the ~15K reporting cutoff for form 3520 applies? Or would this only be the case if the ...
- Sat Jul 29, 2017 10:32 pm
- Forum: Canada / United States Tax & Accounting
- Topic: tips on best unreg investment practice for dual citiz
- Replies: 0
- Views: 3985
tips on best unreg investment practice for dual citiz
hi everyone, two physician household trying to sort out new corporate tax policies our situation is one CCPC held by Cdn citizen with US/Cdn citizen as employee. Previously USD/CDN drawing only 140K for living expenses and RRSP room/contributions. With new changes proposed will now for tax efficienc...
- Fri Jul 04, 2014 2:17 pm
- Forum: Canada / United States Tax & Accounting
- Topic: New 3.8% Obamacare Tax on investment income - Canadian tax
- Replies: 17
- Views: 11900
Has there been any updates on how this is all working out? My wife will be over the income for the tax to apply. Are RRSPs subject to this tax? How about when they are withdrawn upon retirement? Can someone confirm that a dual citizen living in Canada cannot claim FTC for this tax? I'm assuming her ...
- Tue Jun 24, 2014 6:56 pm
- Forum: Canada / United States Tax & Accounting
- Topic: reasonable price for accounting dual citizen
- Replies: 7
- Views: 5316
- Tue Jun 24, 2014 11:06 am
- Forum: Canada / United States Tax & Accounting
- Topic: reasonable price for accounting dual citizen
- Replies: 7
- Views: 5316
yeah that is an option for sure I guess. he has made a couple or errors that do not instill a lot of confidence so we were leaning towards moving to someone else (before getting these quotes), although is a partner and CA in a reputable firm there so perhaps we are reading into them too much just no...
- Tue Jun 24, 2014 10:53 am
- Forum: Canada / United States Tax & Accounting
- Topic: reasonable price for accounting dual citizen
- Replies: 7
- Views: 5316
reasonable price for accounting dual citizen
Hello My partner and I have been on the fence regarding her renouncing for sometime. We discussed things with a tax lawyer who assured us with the right plan we won't have to pay any additional taxes (although i'm not clear how we will eventually avoid obamacare tax short of my partner avoiding all ...
- Wed Feb 05, 2014 8:13 pm
- Forum: Canada / United States Tax & Accounting
- Topic: question about US exit tax, dual citizen living in Canada
- Replies: 0
- Views: 1723
question about US exit tax, dual citizen living in Canada
Since FACTA has been in the news all day, it has reopened my question about whether I should renounce US citizenship, as I do not picture myself working outside of Canada in the future. Presently, all my US returns are up to date, and I would not be covered under the exit tax. As my earning have rec...
- Sun Nov 10, 2013 6:20 pm
- Forum: Canada / United States Tax & Accounting
- Topic: home buyer plan recognized by IRS
- Replies: 4
- Views: 3239
home buyer plan recognized by IRS
Hi I have another quick question for you guys regarding dual US-Canadian citizens. My wife and I are looking to buy a house, I'm wondering if she can withdraw from her Canadian RRSP under the Home Buyer Plan ($25,000) and not pay tax on this income in the USA? Does the IRS recognize the Home Buyer p...
- Thu Oct 17, 2013 11:18 am
- Forum: Canada / United States Tax & Accounting
- Topic: dual citizen living in Canada, question re: marriage
- Replies: 17
- Views: 43509
- Thu Oct 17, 2013 12:31 am
- Forum: Canada / United States Tax & Accounting
- Topic: dual citizen living in Canada, question re: marriage
- Replies: 17
- Views: 43509
dual citizen living in Canada, question re: marriage
My fiancee has dual citizenship (Cdn/US), I have only Cdn. We have a complicated situation arising as we are looking to start a small medical office togehter. We now have a tax lawyer and accountant who specialize in these sorta things. But there still remains one question unanswerd... should we get...