Serbinski Accounting Firms

Thanks again.

A couple of other questions: If I sold a non-primary residence property in Canada and there was a capital gain then I've heard that CPP will stop payments if that capital gain does not have a capital loss that could lower the 'income' from it below a certain threshold. 1. Is this also the case for S...

Thanks again.

This looks good as I have over 20 years paid in to the US so, hopefully, the amount of the WEP 'penalty' will not be too much. But if I understand correctly, the only thing that WEP is applied to is CPP so even 35% of just north of $100 CDN a month is not too damaging. One other question that probab...

Oh and I'm now a Canadian resident and not working in the US.

I would like to start taking US Social Security and Canadian CPP now-ish if practical. I'm 62 years old. For CCA, I have the needed number of credits and would get a payment something like: $1500 US / month. For CPP, it's a small amount and would be something like: $120 CDN / month. I've looked over...

Thanks Nelson.

I worked in the US for many years and set up a self-directed IRA that's pretty large via TD Ameritrade (which Schwab bought?). I returned to Canada a few years ago and am still able to purchase stocks, etc. in that IRA from my online account. Now I've bought a CD and a couple of US Treasury bills an...

Thanks Nelson.

Ditto - used his advice for many situations.

Still hoping for an answer for this question. I realize that there's a way to take out money from a US IRA that one has, pay the tax in US, then apply that tax already paid in Canada for current year's income. However, I haven't be able to find out info on this site where the money made in Canada fo...

I am a CDN citizen / resident. Moved back from US last year, from many years working in the US as TN. I have a large-ish IRA in US. Once I'm past 59 1/2, If I wanted to 'move' money from my US IRA to my CDN RRSP, but with using capital gain on a rental property would this be okay? For example, if I ...

I'm a Canadian citizen / US resident. This is a question for once I return to Canada and become a CDN resident / US non-resident. I understand that withdrawals from an IRA, after aged 59 1/2 would not be penalized 10% for early withdrawal I also understand that the institution could withhold 15% or ...

As a Canadian / US resident, I've researched what to do with my IRA before returning to Canada and becoming US non-resident on this forum. One option mentioned is to convert some of your IRA to a Roth-IRA first, then become NR of US and go from there. However, if I look at the rules when creating a ...

At the end of 2014, since I had depreciated my car in my LLC over 5 years, and had no depreciation left, I bought the car myself for the FMV. In 2015, I used this same car for business and pleasure use. The 2015 tax forms have to show the car I'm using to write off the expenses on it (but no depreci...