Search found 54 matches
- 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: 12
- Views: 5455
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...
- 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: 11
- Views: 4066
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 ...
- 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: 11
- Views: 4066
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...
- Sat Apr 17, 2021 10:23 am
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian subsidiary
- Replies: 3
- Views: 1946
Re: Canadian subsidiary
Conducting R&D activities in Canada would not create a permanent establishment under article V6e.
- 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: 2807
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.
- 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: 2807
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...
- 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: 2807
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...
- Wed Feb 17, 2021 10:25 am
- Forum: Canada / United States Tax & Accounting
- Topic: 401k Deductions + Roth for Canadian Tax Return
- Replies: 8
- Views: 2704
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...
- Fri Feb 12, 2021 10:25 am
- Forum: Canada / United States Tax & Accounting
- Topic: Dividend withholding recovery
- Replies: 1
- Views: 1005
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?
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?
- 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: 1705
Re: How to report RRSP on 1040 in 2020?
Oh yeah this needs to be disclosed on FBAR
- 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: 1705
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.
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.
- 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: 1452
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) ...
- 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: 2083
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...
- Sun Nov 15, 2020 12:47 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Calculating the amount on like 25600
- Replies: 3
- Views: 1362
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 ...
- Sat Nov 14, 2020 4:53 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Calculating the amount on like 25600
- Replies: 3
- Views: 1362
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 ...