Serbinski Accounting Firms

Hello Can I confirm the following are still correct regarding filing a 2017 return, and nothing has changed in the filing requirements: 8938 - still required just as in previous years to list foreign financial assets? 8891 - Canadian RRSPs used to be required to be filed on this form, but no longer ...

I've got the following accounts entered on my FBar and am now filling in an 8938 ,but can't find clear (clear to me anyway) instructions on how certain account types should be classified in the 8939. This is what I have and what I'm not sure on: FBar -> 8938 Bank -> Foreign Financial Accounts | Depo...

I've got a few UK pensions schemes (which are not being contributed to, or being withdrawn from, they are just stilling there) to report on 8938. I've already reported my foreign bank accounts on the 8938 as Foreign Financial Accounts, and now I'm reporting the pensions as Other Foreign Financial As...

ON here https://www.irs.gov/uac/newsroom/irs-reminds-those-with-foreign-assets-of-u-s-tax-obligations-2015 it says this: "The IRS has eliminated a special annual reporting requirement that has long applied to taxpayers who hold interests in either of two popular Canadian retirement plans. This ...

Just wondering if a GIC should be reported as being of type bank or type other on the Fincen form? (My GIC was with HSBC bank).

I'm collating my 114 data ready for reporting have for my foreign pension schemes there are two values - the fund value and the transfer value, similarly for my Canadian RRSP accounts there is a book value and a market value. Which of the fund/transfer & book/market values should be reported on ...

Hello

Does anybody have any recommendations for a software package that is good for using to fill in the tax forms?

In particular I'm wondering if there is a program that includes the ability to fill in the 3520/A + fincen 114 forms in addition to the regular 1040 etc. forms?

Thanks JGCA and nelsona. I don't have any relatives in Canada and trying to show the property and find a tennant etc. without an agent is going to be a hassle when I live in the US. So its ok for the agent to pay me the full rental amount (less their deduction) and then each month I directly pay 25%...

I'm a US resident considering purchasing a buy-to-let property in Canada and am currently investigating the tax obligations. I understand that the rental income is subject to 25% withholding tax on the gross amount unless an NR6 is filed, in which case it becomes 25% on the net amount. However the w...

I already have some Canadian bank accounts which I report for my US returns (interest income, FBAR). I'm considering opening some Canadian GIC accounts, before doing so I wanted to check if there are any complications to take into consideration when it comes time to file the 2015 US return? Or will ...

I have a Canadian based brokerage account, for a US tax return Im presuming I'll need to declare interest (if any) as well as list it in the FBAR.
But I'm not clear if a 3520 needs completing also.
Does a brokerage account count as a "trust"?

I'm a US resident and apart from foreign bank accounts I also have a gold trading account based in the UK (www.bullionvault.com) and a Canadian share trading account (www.questtrade.com).

In addition to the bank accounts do these two need declaring on the Finbar etc. forms?

For my 2013 return I filed 3520/3520A forms as I had a TFSA.

I closed the TFSA in July 2014, for my 2014 return are 3520/3520A forms still needed as the TFSA existed for part of the year?

While waiting for Nelsona to answer here is my answer. This part shows minunderstaning: "- Still a Canadian tax resident, as was renting my home in Canada to a direct relative. " You state this as if you believe that being a Canadian tax resident is a direct consequence of you renting a ho...

Wow accountants are quoting a few hundred dollars per EIN, just for filing a one page form. As I need one each for myself and my wife's TFSA I thought I'd try and save a several hundred dollars and have a stab at it. Do you ming me asking if you can recollect how you filled in these parts of the for...