Search found 85 matches

by jixca
Fri Nov 20, 2020 1:19 pm
Forum: Canada / United States Tax & Accounting
Topic: insurance (disability) pay on/after TN
Replies: 1
Views: 238

insurance (disability) pay on/after TN

As per title, other than one's own personal needs, is it worth to pay for long term disability insurance while being on TN in US?

Assuming that is, if one goes without work due to disability and subsequently leaves US, will LTD be affected by non-residency in US or it doesn't matter?
by jixca
Mon Nov 02, 2020 2:16 pm
Forum: Canada / United States Tax & Accounting
Topic: IRS/CRA gift reporting and tax
Replies: 5
Views: 881

Re: IRS/CRA gift reporting and tax

I'm going to remain US tax resident and still non resident of Canada. Family (parent) is buying a house, I'm helping with money and will transfer over 200k to make the final payment. It's more of a free loan and I'll take back 170k before year end but keep in Canada under my own account because inte...
by jixca
Thu Oct 22, 2020 5:31 pm
Forum: Canada / United States Tax & Accounting
Topic: Working in California TN Visa, with idle $CAD sitting idle
Replies: 4
Views: 606

Re: Working in California TN Visa, with idle $CAD sitting idle

1. Non resident of Canada can open taxable account to trade, but only few allow them (questrade, interactive brokers, possibly TD waterhouse), you have to check individually to confirm. However, if you are also US resident, no Canadian brokerage can take you because they need to be licensed with SEC...
by jixca
Sat Oct 03, 2020 12:23 pm
Forum: Canada / United States Tax & Accounting
Topic: TN extended remote work in Canada
Replies: 42
Views: 6513

Re: TN extended remote work in Canada

You should start a new thread, your situation is quite unique and differ from those that have already established non residence prior to 2020. I would calculate carefully on both scenarios in terms of tax burden to US and Canada, especially with any assets sold with capital gains. 2020 isn't over ye...
by jixca
Tue Sep 29, 2020 3:27 pm
Forum: Canada / United States Tax & Accounting
Topic: Still have not received my US Fed Refund
Replies: 5
Views: 576

Re: Still have not received my US Fed Refund

I checked few times from May to July and there was no result, then stopped caring.

They (IRS) only went back to office in late July I think, so the paperwork piled up and wouldn't be in the system for a while.
by jixca
Tue Sep 29, 2020 9:35 am
Forum: Canada / United States Tax & Accounting
Topic: Still have not received my US Fed Refund
Replies: 5
Views: 576

Re: Still have not received my US Fed Refund

Mailed 1040 on Mar 13
Refund received Sep 10

You probably have a month or two of waiting still.
by jixca
Sat Sep 05, 2020 12:45 pm
Forum: Canada / United States Tax & Accounting
Topic: TN extended remote work in Canada
Replies: 42
Views: 6513

Re: TN extended remote work in Canada

Agree with above. There is another thread (https://forums.serbinski.com/viewtopic.php?f=2&t=299631) that has some CRA updates which may excluding counting the March-September 2020 period in 183 day calculation, but I think to keep being non-resident while in Canada one still has to avoid many th...
by jixca
Fri Sep 04, 2020 11:25 am
Forum: Canada / United States Tax & Accounting
Topic: TN Visa - Taxes for Canadian returning home due to covid
Replies: 11
Views: 1724

Re: TN Visa - Taxes for Canadian returning home due to covid

Thanks for posting the CRA response, did you ask via PERESCOVIDG@cra-arc.gc.ca whilest describing your unique situation?

If one is able to exclude those days from 183 day count then that's pretty useful and would eliminate a lot of filing hassle for 2020.
by jixca
Sat Aug 15, 2020 5:52 pm
Forum: Canada / United States Tax & Accounting
Topic: TN Visa - Taxes for Canadian returning home due to covid
Replies: 11
Views: 1724

Re: TN Visa - Taxes for Canadian returning home due to covid

Thanks for the CRA update. I have a similar thread on https://forums.serbinski.com/viewtopic.php?f=2&t=203914 but everyone's situation differs. It depends on your long term plan for the next 2 years and family/employment situation. If you're staying longer than 183 days and have ties to Canada, ...
by jixca
Tue Jun 30, 2020 12:32 pm
Forum: Canada / United States Tax & Accounting
Topic: TN extended remote work in Canada
Replies: 42
Views: 6513

Re: TN extended remote work in Canada

I try to summarize the conclusion, for my own reference on steps to take next year in filing 2020 taxes, as well as to help anyone in the similar situation :) I'm keeping track of the days present in Canada, and until I exceed that I probably wont' do anything. Afterwards, I'll have to calculate and...
by jixca
Mon Jun 29, 2020 12:03 pm
Forum: Canada / United States Tax & Accounting
Topic: TN extended remote work in Canada
Replies: 42
Views: 6513

Re: TN extended remote work in Canada

After spending the weekend reading thru the non-resident return guide, I got a better understanding of the reporting requirements. Basically, one reports the prorated US-wages to CRA and pay the federal and provincial taxes. The only difference with a resident return is not including other income li...
by jixca
Thu Jun 25, 2020 2:06 pm
Forum: Canada / United States Tax & Accounting
Topic: TN extended remote work in Canada
Replies: 42
Views: 6513

Re: TN extended remote work in Canada

Thank you, I was a little confused too because reading the guide of T2209 it seems to be for canadian residents only, so to confirm, as non-resident of canada for whole year and physically present more than 183 days, my reporting of US wages will need to be reported as other gross employment income ...
by jixca
Wed Jun 24, 2020 11:19 pm
Forum: Canada / United States Tax & Accounting
Topic: TN extended remote work in Canada
Replies: 42
Views: 6513

Re: TN extended remote work in Canada

Thanks Nelsona Yes I'm aware that the taxes withheld on US payroll are just estimates, in 2021 once I get the final W2 and other forms I'll have to do a side by side 1040 and non resident T1 to match the numbers on form 1116 and T2209. CRA will also want me to include the 1040 and my W2, plus my wor...
by jixca
Wed Jun 24, 2020 9:29 pm
Forum: Canada / United States Tax & Accounting
Topic: TN extended remote work in Canada
Replies: 42
Views: 6513

Re: TN extended remote work in Canada

So, I did some research and estimated calculation based on 2019 numbers. Please let me know if I'm missing or assuming incorrectly. Assuming I have 200/250 work days in Canada excluding vacation, weekend...etc, I'll use 80% of the figures from W2 to calculate and apply a yearly average conversion ra...