Search found 5 matches

by danic4u
Tue Nov 11, 2014 11:29 am
Forum: Canada / United States Tax & Accounting
Topic: TFSA contribution room while in USA on TN
Replies: 11
Views: 7287

Can I put back everything plus the profit? or only what I am eligible to put based on my Canadian residency?

Why TFSA is a night mare to file in the US? they will consider it as cash accoutn and I will be taked on returns, I believe I will be taxed on Federal and state taxes correct?
by danic4u
Mon Nov 10, 2014 2:40 pm
Forum: Canada / United States Tax & Accounting
Topic: TFSA contribution room while in USA on TN
Replies: 11
Views: 7287

Nelsona, when you say collapse the TFSA BEFORE leaving Canada, -collapsing means, liquidating my positions and keeping the money in the TFSA account, or liquidating and withdrawing all money and closing account? -The "BEFORE Leaving Canada", is it before I head to the border to apply for T...
by danic4u
Thu May 15, 2014 9:04 pm
Forum: Canada / United States Tax & Accounting
Topic: RRSP/TFSA/LIRA for TN Canadian in California
Replies: 8
Views: 6648

Also, can you explain more "Your LIRA will be fully taxable in US if you withdraw iut there. " how can I withdraw it from the US? I cannot collapse LIRA account, can I?
by danic4u
Thu May 15, 2014 9:01 pm
Forum: Canada / United States Tax & Accounting
Topic: RRSP/TFSA/LIRA for TN Canadian in California
Replies: 8
Views: 6648

Nelsona, Can you explain "you want swap any winning positions so that they have a higher cost basis" Also, can you explain "Canada will view it as a sheltered pension until you take it." For earnings inside my RRSP and LIRA, will I be paying Federal taxes+ California state taxes ...
by danic4u
Thu May 15, 2014 7:26 pm
Forum: Canada / United States Tax & Accounting
Topic: RRSP/TFSA/LIRA for TN Canadian in California
Replies: 8
Views: 6648

RRSP/TFSA/LIRA for TN Canadian in California

1-I have RRSP/LIRA/TFSA accounts in Canada and I am planning in moving to California (San Fran) on TN visa and staying 3 years which makes me resident in the IRS eyes, and I read that I should report those to the the IRS, and they will tax me on those especially in California...what I should do for ...