Search found 44 matches

by webcite_99
Tue Nov 07, 2006 11:50 pm
Forum: Canada / United States Tax & Accounting
Topic: foreign immigration trust question
Replies: 4
Views: 2277

Thank you Carson.

To maximize the trust and other tax issues, is there any benefit to be gained by timing a move? For example, is there any impact of say moving and declaring Canadian residence on December 31st versus say January 1st?

Thanks.
by webcite_99
Mon Nov 06, 2006 12:15 am
Forum: Canada / United States Tax & Accounting
Topic: foreign immigration trust question
Replies: 4
Views: 2277

No one has responded to this question, and I was hoping that someone may have some insights.
by webcite_99
Mon Oct 16, 2006 11:10 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian Tax on Dividends
Replies: 2
Views: 1068

Canadian Tax on Dividends

I am a US citizen and resident who may be moving to Montreal with dual citizen spouse. I am currently a minority shareholder of a US based S Corp, a majority "shareholder" of an LLC and an independent consultant/contractor (i.e. a 1099). I have been led to believe that if I move, that my best tax st...
by webcite_99
Wed Aug 02, 2006 5:05 pm
Forum: Business & Personal Immigration to Canada
Topic: H-1B Sponsorship for Start-up Company
Replies: 2
Views: 3220

I thought it went both ways. My apologies.
by webcite_99
Tue Aug 01, 2006 10:53 pm
Forum: Canada / United States Tax & Accounting
Topic: foreign immigration trust question
Replies: 4
Views: 2277

foreign immigration trust question

What if a US citizen establishes a foreign immigration trust and spends say 48 months in Canada as a resident then moves back to the US. 2 years later, the same US citizen moves back to Canada to become a resident again, can they re-establish a new foreign immigration trust and get another 60 months...
by webcite_99
Tue Aug 01, 2006 10:38 pm
Forum: Business & Personal Immigration to Canada
Topic: H-1B Sponsorship for Start-up Company
Replies: 2
Views: 3220

H-1B Sponsorship for Start-up Company

I am the president of a newly U.S. based Start-up company (S-Corp) and we would like to hire a person that is currently working under an H-1B with another company. Questions: 1) Given that we are only 1 week in existance, what if any challenges do we face in getting approval from CIS to sponsor an e...
by webcite_99
Mon Apr 10, 2006 5:26 pm
Forum: Canada / United States Tax & Accounting
Topic: Wife working in Canada/Husband working in U.S
Replies: 7
Views: 2928

Thanks Nelsona. I hate to keep this string going, but I think the numbers may have gotten mixed up on your answer. Canadian source for wife was $50,000 and US source for Husband was $150,000. I understand that there is a limit on the US tax credit of $80,000, but unsure about the Canadian tax credit...
by webcite_99
Sun Apr 09, 2006 9:41 pm
Forum: Canada / United States Tax & Accounting
Topic: Wife working in Canada/Husband working in U.S
Replies: 7
Views: 2928

Thanks. To clarify, are you saying that all income earned by both wife and husband is taxable in Canada first (regardless of source) and then applied toward the 160,000 US tax credit? Or would the Husband's income be taxed first in the US then applied to a Canadian Tax credit? Or am I way off on the...
by webcite_99
Sat Apr 08, 2006 10:01 pm
Forum: Canada / United States Tax & Accounting
Topic: Wife working in Canada/Husband working in U.S
Replies: 7
Views: 2928

Wife working in Canada/Husband working in U.S

Situation: wife is a dual citizen (Can & US thru marriage) and resident of Canada. Husband is a US citizen and living with wife in Canada. Wife works in Canada and earns say 50,000 CAD. Husband works for a US company and works vitually from Canada with several trips to US (say 30% of the time) and e...
by webcite_99
Sat Apr 08, 2006 9:51 pm
Forum: Canada / United States Tax & Accounting
Topic: What to do with Roth IRA left in US
Replies: 7
Views: 3824

I was wondering if there was any closure on this subject as it seems that Mark and Nelsona have opposite positions. If there is still a friendly disagreement, would there be a safe harbor similar to an advice of counsel defense if a person did not pay taxes on their Roth IRA distributions based on a...
by webcite_99
Tue Nov 29, 2005 5:21 pm
Forum: Canada / United States Tax & Accounting
Topic: Consulting Issue
Replies: 3
Views: 1839

This is an ongoing debate with my Canadian wife. Thanks for the reply. Do you happen to know if CRA has anything published on the subject?

Thanks again for this and all other replies as my situation seems to continue to evolve weekly.

Rick
by webcite_99
Tue Nov 29, 2005 3:30 pm
Forum: Canada / United States Tax & Accounting
Topic: Consulting Issue
Replies: 3
Views: 1839

Consulting Issue

I am a US citizen and a 50% shareholder of a US based S corp. We are a technology consulting company and we have been approached about doing a project for a Canadaian based company. To perform the work, I would have to be physically present in Toronto and Montreal and the project would last approxim...
by webcite_99
Tue Nov 29, 2005 1:13 pm
Forum: Canada / United States Tax & Accounting
Topic: Tax On First Home Purchase?
Replies: 1
Views: 1492

Tax On First Home Purchase?

I've heard that in Quebec that there is a small tax (something like a Property Transfer Tax) to the buyer when you purchase a home, but I recently heard that there may be a separate tax if you are buying your first home. If anyone could tell me what my approximate liability would be on let's say a $...
by webcite_99
Sun Oct 09, 2005 12:28 pm
Forum: Canada / United States Tax & Accounting
Topic: Determining CDN residency status / tax treaty?
Replies: 16
Views: 6813

Thanks for all of the clarifications. As for your last comment, my factual situation is that I am a US citizen and my wife is a Canadian citizen living with me in the US on a green card. We are thinking of spending 5 months next year in Canada for her maternity leave and then coming back to the US. ...
by webcite_99
Sat Oct 08, 2005 3:15 pm
Forum: Canada / United States Tax & Accounting
Topic: Determining CDN residency status / tax treaty?
Replies: 16
Views: 6813

This is a good string, and I have a few questions that I was hoping you could expand on: ______________________________________ "As long as you spend more than 183 days a year in US, you can claim that you are a "Deemed non-resident" for Cdn tax purposes, which means you file a Cdn return, reporting...