Serbinski Accounting Firms

Nelsona, I was just about to proceed with converting my current US brokerage account to joint with my wife, who is also a Canadian citizen like myself. Doing a bit of Googling and it sounds like converting a personal bank or brokerage account to joint might count as a gift, which is capped at $147 ...

Thanks Nelsona.

So then would you say the only way to make this work would be to convert my US house to a rental before selling it? If so, is there a minimum amount of time the house needs to be classified as a rental property?

I'm a Canadian citizen who's been a resident of the USA for the past 3 years. I plan to move back to Canada during the summer. I own my principal residence in the USA and plan to put it up for sale soon. Hypothetically, if the contract were to close the day after I entered Canada, is there anything ...

Got it. Thanks very much, Nelsona.

I'm a Canadian citizen currently working in the US. I have been here for the past 2.5 years. Later this year I plan to move back to Canada permanently with my family.

I currently have a US brokerage account, 100% in my name. When we move back to Canada, am I allowed to transfer the holdings from ...

non-RRSP has been transferred to a US brokerage.

TFSA has NOT been collapsed. I was planning on just leaving it alone and not doing anything with the investments inside of it until I go back to Canada in 3-4 years. Is this unwise? Should I also be moving the holdings within the TFSA to a US ...

I was actually living in my house right up until the morning of December 31. Slept in a hotel that night, then hopped on a plane on January 1.

I figured I might be better off leaving the departure date at Jan 1 so that I won't need to pay the tax on the capital gains until 2015...However, I just ...

Thanks for the answer, Nelson.

I've assumed January 1 was my move date simply because that was the day that my family and I hopped on the plane and physically left Canada. It was part of an intercompany transfer. I ceased working for the Canadian branch on December 31 and began working for the US ...

I moved from Canada to the US on January 1, 2014. I hold common shares in an ordinary investment account that were purchased in July, 2013. Deemed disposition resulted in a capital gain on January 1. If I were to sell these shares for a further gain as a US resident in September, 2014, would this ...