Serbinski Accounting Firms

Hi ND,
she is out if the US but i am not, so i am wondering if IRS/Obamacare will consider her excluded foreign income as part of mine and therefore bump my income out of the premium tax credit threshold

Thanks Nelsona for your reply,

how does the IRS see her foreign income in terms of Obamacare? for example: if i make 30K i get some credit from Obamacare that reduces my monthly premium, but if i add her foreign income '45K', will i have to pay back those subsidies back?

hello,
a friend of mine who is a us citizen got married to a Non-US citizen this year but she hasn't moved into the US yet 'still waiting for green card by next year'...he is filing as joint with her as it benefits him, and using also form 2555 'Foreign Earned Income' for her....
my question does ...

Hello,

i am working on filing FBAR form and i am not sure, besides foreign bank accounts, what else shall i include? i dont know much about all these accounts:(
i heard of RRSP in Canada but how do i know if i was enrolled in them or i and/or my employer contributed to it? would it show in T4?
I ...

Thanks for the answers,

which currency rate shall i use for FBAR currency conversion from CAD to USD for 2015 & 2016? is it the one on the end of the year in both IRS/Treasury site? or shall i use the interest rate from sites such as XE for the day with the biggest amount?

Thanks Victoriaguy for your reply,
i am leaning towards doing just the FBAR without scheduleB for 2015, eventhough 2016 i can still submit the FBAR within time although i already submitted 2016 taxes already!
i did find out also that i had less than 20 cents in my foreign savings account which i ...

HI,

I just realized that in my 2015 form 1040EZ that i submitted it wasn't accompanied with [b]Schedule B form Part 3[/b] where they ask for foreign bank accounts, Also i found out that schedule B usually goes with 1040 & not my 1040EZ anyway !!!
shall i send schedule B form although being it late ...

Thanks Journadian for the quick response,

i have more than 10K USD after rate exchange, i just saw on IRS site https://www.irs.gov/individuals/international-taxpayers/delinquent-fbar-submission-procedures that i can submit delinquent FBAR forms if "The IRS will not impose a penalty for the failure ...

Hello and sorry if this is a stupid question but i just learned something calling FBAR filing, i am canadian citizen living in US as PR for last 2 years, i filed 1040form for last 2 years "Tax year 2015 & tax year 2016" eventhough i didnt make any income because i am a green card.
i just became ...

I was wondering, what is the difference between my first approach of filing dual status with forms 1040, 1040EZ & form 8965 versus just filing 1040 & form 2555.
Any advantage or more refund or tax deduction s or a nything that sort?

my parent sponsored me for green card which i received last year.....now i get a taste of what they meant by expats and Tax nightmares :D

Ah yes, the software, i forgot about it since initially i was thinking dual status which doesnt allow efile "at least turbo tax", now i can let the machine work instead of crunching the numbers myself :D

Thanks Nelsona for the tips,

Oh I see, write down the equivalent of my canadian income in USD amount, file the 2555 to exempt this same foreign income.....how about Obamacare & form 8965 shall i still fill it out in part 2 under " 7a Are you claiming an exemption because your household income is below the filing threshold ...

Tnx Nelsona for the repsonse,

i already filed my canadian emigrant return for 2015.....when i file first year resident, the 1040, by exempting the canadian income i should just write 0 for all 2015 income eventhough i made income in canada before my US move?

Hello Everyone,

I moved to USA from Canada last April as Green card, I lived less than 120 days in US in 2015 and i didnt work anywhere in US or in the world after i moved here, I only worked in Canada before my US move....

Any tips on how to file with the IRS as a dual status, any software i ...