Search found 41 matches

by Bubba Gums
Sun Nov 15, 2020 12:47 pm
Forum: Canada / United States Tax & Accounting
Topic: Calculating the amount on like 25600
Replies: 3
Views: 60

Re: Calculating the amount on like 25600

Thanks Nelsona, How does this play out on Schedule A/B for determining which credits one is eligible for. It would seem that one would still get full credits if >90% as this comes from line 23600. Is that correct? Perhaps the excluded income deducted on 25600 is written on "Income from sources outsi...
by Bubba Gums
Sat Nov 14, 2020 4:53 pm
Forum: Canada / United States Tax & Accounting
Topic: Calculating the amount on like 25600
Replies: 3
Views: 60

Calculating the amount on like 25600

US resident earning Canadian source employment income. Work performed in both Canada and the US. I am counting work days in each location and excluding the US portion as allocated on a per diem basis on line 25600. What about the deductions (RRSP, Pension, Union) I think these are permitted. Is the ...
by Bubba Gums
Mon Oct 19, 2020 10:48 am
Forum: Canada / United States Tax & Accounting
Topic: Question about income source from NSERC postdoctoral fellowship
Replies: 14
Views: 478

Re: Question about income source from NSERC postdoctoral fellowship

PDF's can receive employment income, research grant income or both. A simple test is: who pays you? If NSERC pays you directly, it would not be an employment income. If your PI/university also paid you in addition (which would be fair) that component would be employment income.
by Bubba Gums
Sun Oct 18, 2020 6:17 pm
Forum: Canada / United States Tax & Accounting
Topic: Question about income source from NSERC postdoctoral fellowship
Replies: 14
Views: 478

Re: Question about income source from NSERC postdoctoral fellowship

You might also take a look at 3.88 and 3.89:

Your fellowship will be taxable as though it were received by a resident of Canada.
by Bubba Gums
Sat Oct 17, 2020 11:13 am
Forum: Canada / United States Tax & Accounting
Topic: Question about income source from NSERC postdoctoral fellowship
Replies: 14
Views: 478

Re: Question about income source from NSERC postdoctoral fellowship

I think it is clear that this is CDN source income. Check out article XX of the treaty, it may be helpful. Note you may still be on the hook for state income taxes. Would Governmental service XIX apply here? Are you paid directly by Canada, or does this flow through your University? I do not think t...
by Bubba Gums
Sat Aug 15, 2020 1:58 pm
Forum: Canada / United States Tax & Accounting
Topic: RPP rollover to Roth IRA
Replies: 4
Views: 296

Re: RPP rollover to Roth IRA

I am subject to the Maximum transfer value limits. https://milliondollarjourney.com/how-to-calculate-pension-maximum-transfer-value-mtv.htm a) One may exceed the annual contribution limits to a Roth IRA by roll over. A roll over from a US pension (a qualified plan) to a Roth IRA is allowed if the am...
by Bubba Gums
Sat Aug 15, 2020 11:35 am
Forum: Canada / United States Tax & Accounting
Topic: RPP rollover to Roth IRA
Replies: 4
Views: 296

RPP rollover to Roth IRA

I am considering withdrawing my RPP. I would transfer the distribution tax-deferred into my RRSP subject to the limits. I would like to take the remainder and transfer it to a Roth IRA. I understand I will have 25% of the cash portion withheld as Canadian tax due. I understand I would report the cas...
by Bubba Gums
Fri May 15, 2020 7:59 am
Forum: Canada / United States Tax & Accounting
Topic: Am I a Canadian Tax Resident?
Replies: 5
Views: 949

Re: Am I a Canadian Tax Resident?

You are a permanent resident of the United States. It sounds like you have a substantial presence in the United States and a habitual abode there. Unless you have a third country with which you have a close relationship, I would say you are a US tax resident and a Canadian non-resident. a. No. If th...
by Bubba Gums
Thu May 14, 2020 8:49 pm
Forum: Canada / United States Tax & Accounting
Topic: Am I a Canadian Tax Resident?
Replies: 5
Views: 949

Re: Am I a Canadian Tax Resident?

Are you a US Citizen?
by Bubba Gums
Sat Apr 18, 2020 2:40 pm
Forum: Canada / United States Tax & Accounting
Topic: US government stimulus check
Replies: 48
Views: 7518

Re: US government stimulus check

I know the stimulus check is not taxable in the US. Would it be taxable in Canada?
by Bubba Gums
Wed Apr 15, 2020 7:10 pm
Forum: Canada / United States Tax & Accounting
Topic: US government stimulus check
Replies: 48
Views: 7518

Re: US government stimulus check

Nevermind my previous post, I was looking at the old bill. Earned income and tax libaility is gone as Nelsona described.
by Bubba Gums
Wed Apr 15, 2020 6:46 pm
Forum: Canada / United States Tax & Accounting
Topic: US government stimulus check
Replies: 48
Views: 7518

Re: US government stimulus check

regarding ineligibility if one has reduced there income by using FEIE... One gets the lessor of $1,200 ($2,400) or their net tax liability, unless you are a "taxpayer described." A "taxpayer described" gets $600 ($1,200) + kids. A "taxpayer described" has qualifying income of at least $2,500 or (net...
by Bubba Gums
Sun Apr 05, 2020 2:46 pm
Forum: Canada / United States Tax & Accounting
Topic: US government stimulus check
Replies: 48
Views: 7518

Re: US government stimulus check

(1) Foreign EARNED INCOME Exclusion. You are not eligible.

(2) "intentionally non-compliant" Hmm I am sure that ends well. "Under penalties of perjury, I declare that..."
by Bubba Gums
Sat Mar 21, 2020 12:39 pm
Forum: Canada / United States Tax & Accounting
Topic: Unemployment benefits for TN visa Job loss
Replies: 8
Views: 1564

Re: Unemployment benefits for TN visa Job loss

There is a treaty between the US and Canada that provides reciprocity for Employment Insurance (Canada) / Unemployment insurance (US).

https://www.canada.ca/en/employment-soc ... anada.html
by Bubba Gums
Sun Feb 09, 2020 11:37 am
Forum: Canada / United States Tax & Accounting
Topic: Income in both US and Canada
Replies: 9
Views: 1784

Re: Income in both US and Canada

It sounds as if you have become a resident of the United States to become a student. Why do you think you are a resident of Canada? Does your income from the US school come from a Canadian source?