Search found 15 matches

by mbert
Sat Mar 02, 2019 12:16 am
Forum: Canada / United States Tax & Accounting
Topic: Brokerage accounts for US Citizen residing in Singapore
Replies: 2
Views: 272

Re: Brokerage accounts for US Citizen residing in Singapore

Okay much appreciated, thanks nelsona. To your point, I touched base with my brokerage and can confirm as of now there are no issues for a US citizen living in Singapore maintaining a US brokerage.
by mbert
Sat Mar 02, 2019 12:14 am
Forum: Canada / United States Tax & Accounting
Topic: How to asses an accounting firm
Replies: 1
Views: 287

Re: How to asses an accounting firm

Just following up on this. I know the obvious answer given the location of this post would be Serbinski! However my understanding is that they specialise in Canada and US taxes only. I guess one possibility is I use different firms for 2018 and 2019, firms which specialise in US/Canada and then US/S...
by mbert
Sat Feb 23, 2019 10:49 pm
Forum: Canada / United States Tax & Accounting
Topic: Brokerage accounts for US Citizen residing in Singapore
Replies: 2
Views: 272

Brokerage accounts for US Citizen residing in Singapore

My understanding for non registered brokerage accounts is that you cannot hold a US brokerage account while residing in Canada and vice versa. I was wondering if there is a similar provision for US citizens residing in Singapore? Can a US citizen living in Singapore maintain a non registered US brok...
by mbert
Sun Feb 17, 2019 12:53 pm
Forum: Canada / United States Tax & Accounting
Topic: How to asses an accounting firm
Replies: 1
Views: 287

How to asses an accounting firm

I am wondering what to look for / how to assess an accounting firm. I.e. what questions to ask, any red flags, and a general idea about cost. Obviously this is dependent our the individuals situation, so here are some pertinent facts. 1) I am a dual US/Canadian citizen 2) I've lived and worked 4 yea...
by mbert
Mon Jan 07, 2019 11:47 am
Forum: Canada / United States Tax & Accounting
Topic: Unused Foreign Earned Income Credits
Replies: 2
Views: 350

Re: Unused Foreign Earned Income Credits

Great, thanks for the response nelson. Yes my apologies on the ambiguous / erroneous terminology, I was indeed referring to FTCs.
by mbert
Mon Jan 07, 2019 10:40 am
Forum: Canada / United States Tax & Accounting
Topic: Unused Foreign Earned Income Credits
Replies: 2
Views: 350

Unused Foreign Earned Income Credits

I have accrued a number of Foreign earned income credits working in Canada for 4 years. If I relocate to another country outside the US with a lower marginal tax rate (Singapore) am I able to use the credits or is it country specific? Any advice on this is much appreciated.
by mbert
Wed Oct 10, 2018 9:58 am
Forum: Canada / United States Tax & Accounting
Topic: Capital Loss Carryover
Replies: 4
Views: 430

Re: Capital Loss Carryover

Okay got it, thanks for the info, much appreciated.
by mbert
Wed Oct 10, 2018 8:54 am
Forum: Canada / United States Tax & Accounting
Topic: Capital Loss Carryover
Replies: 4
Views: 430

Re: Capital Loss Carryover

[quote=nelsona post_id=50155 time=1539143766 user_id=30] It may be better for you to take the deduction for those years, perhaps resulting in a reduced foreign tax credit, which you certainly CAN carry forward. [/quote] I'm not sure I understand this section? I understand that you can carry forward ...
by mbert
Tue Oct 09, 2018 10:07 pm
Forum: Canada / United States Tax & Accounting
Topic: Capital Loss Carryover
Replies: 4
Views: 430

Capital Loss Carryover

My understanding is that capital losses up to $3,000 can be used to offset wage income and the rest can be carried forward. I'm wondering if in 2015 and 2016 I had some capital losses but due to tax credits which I reported in Form 1116 I owed no taxes, can I somehow carry the capital losses from 20...
by mbert
Tue May 29, 2018 10:07 am
Forum: Canada / United States Tax & Accounting
Topic: US Canadian Dual Citizen reporting Canadian EI income
Replies: 2
Views: 572

Great, thanks for the clarification nelsona!
by mbert
Tue May 29, 2018 7:19 am
Forum: Canada / United States Tax & Accounting
Topic: US Canadian Dual Citizen reporting Canadian EI income
Replies: 2
Views: 572

US Canadian Dual Citizen reporting Canadian EI income

I am a US/Canadian dual citizen and received Canadian EI income in 2017 while living in Canada. I was wondering how I would go about reporting this on a 1040. From looking around at similar threads https://forums.serbinski.com/viewtopic.php?t=7414 https://forums.serbinski.com/viewtopic.php?t=9343 ht...
by mbert
Mon Apr 30, 2018 10:16 pm
Forum: Canada / United States Tax & Accounting
Topic: Closing a TFSA
Replies: 5
Views: 1057

Closing a TFSA

Are there any considerations that need to be taken into account when closing a TFSA in Canada as a dual citizen residing in the US? The TFSA account is with a brokerage and contains various ETFs. I would like to close this account and transfer the securities into a US based margin account but am won...
by mbert
Mon Apr 16, 2018 7:34 pm
Forum: Canada / United States Tax & Accounting
Topic: Dual Citizen TFSA Advice
Replies: 11
Views: 1720

Thank you for all the information nelsona. I believe its prudent for me to seek professional help, but would like to find someone who is knowledgeable on both the Canadian and US side of things and can also help with tax planning as opposed to just filling. Clearly Serbinski is the obvious choice bu...
by mbert
Sat Apr 14, 2018 10:58 am
Forum: Canada / United States Tax & Accounting
Topic: Dual Citizen TFSA Advice
Replies: 11
Views: 1720

Thank you for this info, much appreciated. A follow up about non tax exempt accounts. My understanding is that if I am living in the US, I am not able to have a Canadian margin brokerage account (as indicated to me by my brokerage account). My plan is to move my non tax exempt brokerage accounts to ...
by mbert
Wed Mar 14, 2018 8:18 pm
Forum: Canada / United States Tax & Accounting
Topic: Dual Citizen TFSA Advice
Replies: 11
Views: 1720

Dual Citizen TFSA Advice

I am a dual Canadian / US citizen. I was born and raised in Canada and have recently (as of 2018) moved to the US. I am wondering if there is any advantage whatsoever in having a TFSA? My understanding is they are not recognized by the US, and since Canadian institutions generally don't issue tax fo...