Search found 54 matches

by Bubba Gums
Thu May 06, 2021 7:50 am
Forum: Canada / United States Tax & Accounting
Topic: US Citizen wants to keep W2 remote job in Canada
Replies: 5
Views: 239

Re: US Citizen wants to keep W2 remote job in Canada

Ask your employer to provide a certificate of coverage? https://www.ssa.gov/international/CoC_link.html Would your employment duties in Canada give rise to a Permanent Establishment by virtue of your participation in a trade or business or concluding contracts etc? Would your activities be exempt un...
by Bubba Gums
Mon May 03, 2021 1:24 pm
Forum: Canada / United States Tax & Accounting
Topic: Working in US on TN for 10 years moving back to Canada
Replies: 9
Views: 433

Re: Working in US on TN for 10 years moving back to Canada

I didn't find the section of the treaty that defined secondments or transfers. Please clarify? This provision does not say, ... required by that employer to go to the territory of the other Contracting State in order to work. It only mentions that you are required to work while present in the other ...
by Bubba Gums
Mon May 03, 2021 7:11 am
Forum: Canada / United States Tax & Accounting
Topic: Working in US on TN for 10 years moving back to Canada
Replies: 9
Views: 433

Re: Working in US on TN for 10 years moving back to Canada

US Canada treaty on social security: Where an employed person is covered under the laws of one of the Contracting States in respect of work performed for an employer having a place of business in the territory of that Contracting State and is then required by that employer to work in the territory o...
by Bubba Gums
Sat Apr 17, 2021 10:23 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian subsidiary
Replies: 3
Views: 294

Re: Canadian subsidiary

Conducting R&D activities in Canada would not create a permanent establishment under article V6e.
by Bubba Gums
Fri Mar 05, 2021 8:46 pm
Forum: Canada / United States Tax & Accounting
Topic: Is a PEO the only legitimate option for remote Canadian workers of US firms?
Replies: 7
Views: 621

Re: Is a PEO the only legitimate option for remote Canadian workers of US firms?

I was focused on payroll taxes and totalization. I think the link you sent refers to income tax and withholding.
by Bubba Gums
Fri Mar 05, 2021 12:38 pm
Forum: Canada / United States Tax & Accounting
Topic: Is a PEO the only legitimate option for remote Canadian workers of US firms?
Replies: 7
Views: 621

Re: Is a PEO the only legitimate option for remote Canadian workers of US firms?

"If you are an employer who does not have a place of business in Canada, you can apply to have employment that you provide in Canada (for resident or non-resident employees) covered under the CPP. This coverage is optional." https://www.canada.ca/en/revenue-agency/services/tax/businesses/t...
by Bubba Gums
Fri Mar 05, 2021 8:32 am
Forum: Canada / United States Tax & Accounting
Topic: Is a PEO the only legitimate option for remote Canadian workers of US firms?
Replies: 7
Views: 621

Re: Is a PEO the only legitimate option for remote Canadian workers of US firms?

1) Employer says, "pound sand." 2) Employer says, "pound sand." 3) Employer says, "pound sand." 4) Employer says, "see you at 9:00 am," you agree. 5) You say, "pound sand." "Where, by virtue of this Article, a person would be subject to the laws...
by Bubba Gums
Wed Feb 17, 2021 10:25 am
Forum: Canada / United States Tax & Accounting
Topic: 401k Deductions + Roth for Canadian Tax Return
Replies: 8
Views: 448

Re: 401k Deductions + Roth for Canadian Tax Return

If you withdraw contributions (including any net earnings on the contributions) from the roth by the due date of your return for the year in which you made the contribution, the contributions are treated as if you never made them. If you have an extension of time to file your return, you can withdra...
by Bubba Gums
Fri Feb 12, 2021 10:25 am
Forum: Canada / United States Tax & Accounting
Topic: Dividend withholding recovery
Replies: 1
Views: 235

Dividend withholding recovery

US resident, CDN-employment, CDN source dividends
Is it possible to recover the 15% treaty withheld tax on a cdn source dividend and include this income on my CDN return? Is this NR7 and if so any suggestion on how to describe this reason and obtain the details?
by Bubba Gums
Mon Feb 08, 2021 10:05 pm
Forum: Canada / United States Tax & Accounting
Topic: How to report RRSP on 1040 in 2020?
Replies: 3
Views: 401

Re: How to report RRSP on 1040 in 2020?

Oh yeah this needs to be disclosed on FBAR
by Bubba Gums
Mon Feb 08, 2021 10:04 pm
Forum: Canada / United States Tax & Accounting
Topic: How to report RRSP on 1040 in 2020?
Replies: 3
Views: 401

Re: How to report RRSP on 1040 in 2020?

1) No

2) Yes

3) I do, You may not need to.

4) You need to keep track of your contributions, which are post-tax for the US. When you withdraw the $ you will allocate a portion of the withdrawn amount as a return of contribution (tax free) and a portion as taxable.
by Bubba Gums
Fri Feb 05, 2021 8:36 pm
Forum: Canada / United States Tax & Accounting
Topic: Help!-How to handle Defined Benefit Pension (with required contributions) on 1040 & FBAR?
Replies: 2
Views: 391

Re: Help!-How to handle Defined Benefit Pension (with required contributions) on 1040 & FBAR?

1) Yes, Yes. 2) No, Your employer transferred funds. It is not a trust and you are not a beneficiary. 3) No, it is not a "Financial account." You do not make investment choices, obtain income or have any signatory authority. Many examples are listed in FBAR, pension is not one of them. 4) ...
by Bubba Gums
Thu Feb 04, 2021 10:19 am
Forum: Canada / United States Tax & Accounting
Topic: US citizen, worked in Canada 33 yrs, withdrew RRSP funds
Replies: 5
Views: 539

Re: US citizen, worked in Canada 33 yrs, withdrew RRSP funds

1) In Canada you will pay tax on the whole amount. 25% if you take it as a lump sum, 15% if you convert it to a series of similar payments e.g. RRIF. 1a) In the US you will include amounts in your income above your your US tax basis (investment in Contract). Your basis is determined by how much of y...
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: 267

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 ...
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: 267

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 ...