Serbinski Accounting Firms

@fadius, have you considered renouncing your US citizenship?
For years I stressed about my dual-citizen wife’s IRS filing obligations.
She finally renounced her US citizenship 7 years ago.
No more stress.

Disclaimer: I am not an expert. Here’s what I know. 1. If a. you are a non-resident alien (with respect to the USA); b. all your U.S. source income is reported on 1042-S tax slips; c. the correct amount of taxes (as per the U.S. - Canada tax treaty) was withheld on those 1042-S tax slips, then you d...

Hello novice01, I am not an expert. I am facing a similar situation. I am just sharing what I have learned from various sources (including some precious help of nelsona). 1. According to the U.S.-Canada tax treaty, if you are a resident of Canada and a non-resident alien of the U.S., (a) interest in...

Hello! I have read in several places that if you are a non-resident alien with no income "Effectively connected with U.S. trade or business", and if you have some income "Not effectively connected with U.S. trade or business" reported on one or more 1042-S tax slips where all tax...

MaggieA, there is nothing to worry about (at least for now). Here is what someone wrote on the Financial Wisdom Forum regarding H.R. 1547: "Republican lawmakers have filed a flurry of bills that duplicate existing law to bolster their MAGA standing. Typically the bill is announced in a fanfare ...

Well, MaggieA, enjoy your Social Security benefits while they last because if H.R. 1547 passes you’ll have to eat macaroni and cheese.
And so will my wife and myself.
https://www.congress.gov/bill/119th-con ... /1547/text

Lump sum deposit for my wife who was subjected to the WEP.
I am surprised that it took so little time.

There is a very encouraging update dated February 25 on the SSA website. Among other things, it says the following: "Starting the week of February 24, 2025, SSA is beginning to pay retroactive benefits and will increase monthly benefit payments to people whose benefits have been affected by the...

formerpatriot wrote: > As of December 28, Biden has not yet signed the bill into law. > He has until the 31st... and he is on vacation. > Do not celebrate yet. That was incorrect. I was assuming 10 days (from December 21) but it is 10 "working days". Not sure what counts as a working day b...

My wife started her SS in mid-2023 and was subjected to the WEP because of her QPP.
How do we find out how much her SS would be without the WEP?

As of December 28, Biden has not yet signed the bill into law.
He has until the 31st... and he is on vacation.
Do not celebrate yet.

Follow-up question: Suppose that the trustee (my brother-in-law) makes full distribution to the 4 beneficiaries and, in the case of the full distribution to my wife, does not bother withholding that 15% on the dividends that occurred after the time of death. Suppose also that my wife files a 1040NR ...

I am also confused about who has to pay the income generated by the investments after the time of death. You (nelsona) talked about the "income that was generated after the monies became hers". Did the monies become hers (i.e. my wife's) at the time her mother died or will the monies becom...

P.S.
I think the treaty says 15% withholding on dividends (Article X 2 (b)) and 15% on interest (Article XI 2).
What about capital gains?

A follow-up question: It is our understanding that the growth that occurs between the date of death and the date of the total distribution of the inheritance to the beneficiaries is considered taxable income. My wife being a Canadian resident and citizen, and not a US person, there will be taxes wit...