Serbinski Accounting Firms

Canadian citizen, resident in the U.S. In 2013 I sold a Canadian stock through my American brokerage account and have reportable capital gains. I'll report them in the regular way. However, since I also have qualified foreign dividends (taxed at source 15%) tax-credit form 1116 asks for both "f...

Thanks all. I asked the question because - of the two monetary items that exclude one from being a "covered expatriate" - net worth is the only one not indexed for inflation. It sits at US$2 million.....I'll just have to make sure I'm never THAT rich.

As I may return to Canada within 10 years, I'm looking at the items that qualify one as a "covered expatriate", specifically "net worth" - and need to make sure if a RRIF would be included in "total worth" as an item that fits. "Any interest in a foreign pension pl...

All 47 pages.

http://www.scribd.com/doc/204959210/Can ... -agreement

"Prior to the agreement, IRS did not recognize registered disability savings plans, registered education savings plans, or tax-free savings accounts, and treated them as “off-shore trustsâ€￾ — and taxed them accordingly.

The new agreement states Canadian registered accounts "shall not be treated as U.S. Reportable Accounts under the Agreement," but it's not clear if that exempts Canadian citizens who have U.S. ties from reporting them as well."

http://www.cbc.ca/news/politics/fatca-t ... -1.2524444

Blog article dated Jan 8, 2014 - with flow chart to make it easier to understand... http://intltax.typepad.com/intltax_blog/2014/01/new-rules-for-pfic-annual-filing-form-8621.html ************************* Interesting: IF the total value of a PFIC owned is 25K or less (or 50K if filing jointly) one ...

Isn't that what I just wrote I did?

Thanks everyone! Well I just went ahead, followed the prompts, filled the whole thing and clicked "sign". It went through. A note then appeared as a receipt, which I printed, and a confirmation e-mail arrived almost immediately. So that was that. Very simple. A caveat, the line by line ins...

Thanks but the problem I'm seeing on the BSE site is that I can only enroll as a Supervisor for an organization in order to get an ID and/or PIN. I'm retired and only want to file the FBAR. Also, I'll be filling in 114a because we file 1040 jointly but the FBAR form only allows one digital signature...

After filing paper forms for years, I'm going to use the BSA website this year. I've perused the FinCen form 114 and it seems simple enough. It even says that "there's no need to login or register" but it also asks for a signature. Question, so how do I sign? Do they assign me a PIN at som...