Search found 13 matches

by xatham
Tue Jan 31, 2023 5:34 pm
Forum: Canada / United States Tax & Accounting
Topic: Substantial Presence Test for withholding
Replies: 4
Views: 804

Re: Substantial Presence Test for withholding

If you and your spouse are physically present in the USA for 350 days a year, it would be hard to argue that the US-Canada tax treaty tiebreaker rule does not give you the status of US tax resident for the year of 2023. You should have tax withheld as though you were a tax resident of the US (since ...
by xatham
Sat Jan 28, 2023 11:00 pm
Forum: Canada / United States Tax & Accounting
Topic: Refund of RPP contributions while US citizen
Replies: 4
Views: 838

Re: Refund of RPP contributions while US citizen

I'm so sorry - I goofed with the title and the description.

That should read "While US TAX RESIDENT". I became a US TAX RESIDENT in early 2022, not a US Citizen.
by xatham
Sat Jan 28, 2023 10:57 pm
Forum: Canada / United States Tax & Accounting
Topic: Refund of RPP contributions while US citizen
Replies: 4
Views: 838

Refund of RPP contributions while US citizen

Hello. I did search past forum answers and while there were some relevant topics, none were quite the same, so I decided to make a new topic. Here are the facts of the matter: 1) I became a US citizen in early 2022. I applied for a refund of my contributions to an employer-sponsored registered pensi...
by xatham
Fri Jan 22, 2021 2:55 pm
Forum: Canada / United States Tax & Accounting
Topic: On which day do I become Canadian Resident?
Replies: 3
Views: 1382

Re: On which day do I become Canadian Resident?

That makes sense.

With Covid, lockdowns, travel bans, and quarantine requirements, no one is going to be visiting anyone until there is a permanent move. Does that change anything?

Does AirBnB count as a hotel, or is the line blurred?
by xatham
Fri Jan 22, 2021 1:39 pm
Forum: Canada / United States Tax & Accounting
Topic: On which day do I become Canadian Resident?
Replies: 3
Views: 1382

On which day do I become Canadian Resident?

Let me start off by saying I am aware of how the US designs residency, how Canada designs residency, and the tax treaty tiebreaker rules. I am moving back to Canada in March after >4 years spent in the US after having broken all residential ties. My dependents (spouse, child) are staying behind in o...
by xatham
Mon Jun 22, 2020 1:08 pm
Forum: Canada / United States Tax & Accounting
Topic: US non-residents and their 401K accounts south the border
Replies: 9
Views: 6014

Re: US non-residents and their 401K accounts south the border

Do you know brokerages that will maintain existing customers who later become non-residents?

I heard of Schwab and Fidelity, but perhaps you know others?
by xatham
Thu Jun 18, 2020 4:04 pm
Forum: Canada / United States Tax & Accounting
Topic: US non-residents and their 401K accounts south the border
Replies: 9
Views: 6014

Re: US non-residents and their 401K accounts south the border

>Yes, but MOST if not all brokerages will not deal with new customers once they leave US, so this is best done before leaving US. What if you open the account at the new brokerage (IRA, Roth etc) and only transfer afterwards? I ask because according to the entity that administers my 401K, it will ta...
by xatham
Thu Jun 18, 2020 10:45 am
Forum: Canada / United States Tax & Accounting
Topic: US non-residents and their 401K accounts south the border
Replies: 9
Views: 6014

Re: US non-residents and their 401K accounts south the border

Resurrecting this old thread -

Do I understand correctly that a 401K-to-IRA transfer (and 401K roth to roth IRA) can be effectuated once you're a canadian resident, and this won't count as income or have to be reported?
by xatham
Wed Oct 23, 2019 11:52 am
Forum: Canada / United States Tax & Accounting
Topic: Returning Canadian citizen
Replies: 1
Views: 1575

Returning Canadian citizen

Hi all, This forum was extremely helpful last time when I left Canada to go live in the US. Now I am considering coming back to Canada. I am trying to figure out whether or not this is a good idea based mainly on tax liability. My situation is that I'll be moving from the US to Canada around March. ...
by xatham
Tue Jul 05, 2016 2:28 pm
Forum: Canada / United States Tax & Accounting
Topic: TN status moving late in 2016 - tax resident of neither?
Replies: 6
Views: 2320

The first 3-4 months that I'll be working in the US, from when I move to the end of the tax year (Dec 2015). The following year, I will have substantial presence in the US, and will have to file 1040. However, by that point I will have negligible income from Canadian sources, so it will not make a b...
by xatham
Tue Jul 05, 2016 2:25 pm
Forum: Canada / United States Tax & Accounting
Topic: TN status moving late in 2016 - tax resident of neither?
Replies: 6
Views: 2320

I was under the impression that if my Canadian and US income are taxed separately, my marginal tax rate will be much lower than if I was taxed by either nation on my combined worldwide income - even if I would then be able to deduct the taxes already paid to the other country as per the Canada-US ta...
by xatham
Tue Jul 05, 2016 1:00 pm
Forum: Canada / United States Tax & Accounting
Topic: TN status moving late in 2016 - tax resident of neither?
Replies: 6
Views: 2320

So, under the tax treaty I would be a tax resident of the USA, but without SPT I could still file 1040 NR as a non-resident, and therefore pay taxes on worldwide income to neither country?

Am I getting this right? That'll save me a whole lot of income taxes.
by xatham
Sun Jul 03, 2016 11:29 pm
Forum: Canada / United States Tax & Accounting
Topic: TN status moving late in 2016 - tax resident of neither?
Replies: 6
Views: 2320

TN status moving late in 2016 - tax resident of neither?

So, I'm moving to the US on a TN status (3 year contract) at the end of August. I called the CRA, and they seemed pretty adamant - if I'm moving and don't keep an apartment/car/furniture/spouse/etc.. behind, I am no longer a Canadian resident for tax purposes, and should file an emigrant tax return ...