Serbinski Accounting Firms

Is there an age requirement to split income from 401k withdrawals? or any other special requirements (besides being married and CAN residents)? I'm 45, my wife is 44. I'm a US citizen, she's a dual citizen. Our sole income is my 401k withdrawal.

I am a CAD resident and In a prior year I had a capital loss on my US tax return. In the same year I naturally had no US tax due to FTC (in fact a US tax credit). Does the capital loss carry forward, or is it considered "used" by the IRS? Or does the IRS apply the capital loss first, then ...

Right, tax rates for Canadian resident US citizens with IRAs is same as US residents. But -- how does the 10% early withdrawal penalty fit into FTC? There was a 2011 ruling about early IRA withdrawal which was related to a case brought by a Canadian citizen. Does this ruling + verbage of US Canada t...

Can a US citizen claim as a Canadian FTC the 10% early IRA withdrawal penalty based on ruling 2011-0398741I7? What is the mechanism -- would it involve resourcing of pension income? (since effective US tax including the penalty would typically be above 15%)

I have a 401k plan with a brokerage window, which allows the typical full range of US investments -- mutual funds, etfs, stocks, whatever. If I retire in Canada, should I expect to be able to continue to trade all types of securities in this account? I ask because other posts indicate normal (non-re...

Our permanent residence application is in process, so they do not have SIN's yet. I need to send some sort of response to CRA with 2 weeks -- would it be resonable to send the CRA copies of the american passports and birth certificates, and canadian health insurance cards and a letter stating that i...

I received a request from CRA to provide information about my children. I am in Canada on a 3-year NAFTA work permit, and my wife is a Canadian citizen by descent (children are not citizens). The children entered Canada 2 years ago with their mother and the only documentation they received was a sta...

My wife and I are canadian residents with a US bank account > 200k, so are required to file T1135. I guess the contribution to the account from each of us is 50% since the vast majority came from the proceeds of selling our jointly owned house. Here is the dumb question: Say the total account value ...