Serbinski Accounting Firms

TaxAct 2014 has a new "Pay By Credit Card" option. Does anyone know if you are "allowed" to use this option if you are a US citizen (living in Canada) if you are allowed to use this service? How do you "paper file"? Print it off as usual and include a copy of the receip...

I doubt bigrandy is classified as a US citizen.

My understanding is he did not live there for the required minimum time and he did not apply to become a US citiizen so he is not a US citizen.

See this post for more details http://forums.serbinski.com/viewtopic.p ... itizenship

The examples here indicate a "step up in basis" occurs so no capital gains would be owed. http://hodgen.com/category/nonresident-tax/estate-gift-tax-nonresident/ Wow that's a big loophole in my eyes. The article goes on to say a Grantor Trust can be created to also save on the US estate Ta...

Looking a little more carefully at our assets and have noticed we have a sizeable capital gain on our primary residence in Canada. The home is in my name only (I am a Canadian Citizen my wife a USC - not like our RESP mess , we did something right.) My question is if I leave the house to my wife if ...

Totally off topic and maybe you know this already michaelthef but consider staying in the us for at least 10 years. That will make you eligible for social security and any cpp you are eligible for at retirement age. I was in your shoes many years ago and was unaware of the 10 year sweet spot and alw...

Wouldn't the question of citizenship of the OP be important in this case?

How is the sale of US stock reported on a US return for a USC living in Canada?

Sorry Tony don't have any answers for your questions but also remember FBAR reporting if the value of all your Canadian accounts were over 10000 US at any time during the year and try to stay away from investing is RESP's and TFSA's as the will create a paperwork nightmare for you. Search for other ...

Interesting. So the link I posted above http://www.uscis.gov/us-citizenship/cit ... gh-parents that seemed to indicate they were automatic citizens is incorrect then?

Yes Nelson I have "stupid RESP" impacting FBAR so filing separately

Your correct Nelson, I incorrectly added the non-US income.

I have two sources of US income

1) 401K (covered 15% with w-8 ben). --> nothing to do
2) SS (not taxable/reportable in US) --> nothing to do

No US tax return needs to be filed - awesome!

Thanks for the clarification.

Does Tax Act 2013 understand the flat tax mentioned by Nelson? I am trying to run through the scenerios mentioned on this forum. I have figured out how to invoke 1040NR but is there a wizard question that invokes the flat tax? I essentially entered 2 sources of income 1) 401K distribution with 15% w...

For completeness sake I will post this link as a reference I found about foreign born children born to to two parents where only one of the parents was a US Citizen. I found it interesting because it details How my (eventual) grandchildren will be classified. http://www.uscis.gov/us-citizenship/citi...

Yes that is the correct site. Please note that you go to the site, download and Save a pdf to your computer, fill in the pdf with your information at your leisure, save the pdf to your computer and then submit it. through that site. Hold on to the number that is provided to you. I was skeptical at f...

I highly recommend TaxAct. Very reasonably priced and works well.

So to clarify when I am drawing social security:

CPP, private Canadian Pensions will lower my social security payments but OAS, RRSP's distributions and 401K distributions will not lower my ss payments (through the WEP process)