Search found 143 matches

by worryfreeinvestor
Mon Apr 11, 2005 11:56 am
Forum: Canada / United States Tax & Accounting
Topic: Deemed Disposition and Capital Losses
Replies: 2
Views: 2534

Thanks, Nelson!
by worryfreeinvestor
Thu Apr 07, 2005 6:10 pm
Forum: Canada / United States Tax & Accounting
Topic: California Taxation of Real Return Bonds
Replies: 0
Views: 1387

California Taxation of Real Return Bonds

We know that California will tax the income that is actually earned on Real Return Bonds held in an RRSP (just as if it were a normal bond). However, does California also tax the phantom income that results from an inflation adjustment to the principal? Is this inflation adjustment even visible to C...
by worryfreeinvestor
Thu Apr 07, 2005 5:50 pm
Forum: Canada / United States Tax & Accounting
Topic: Deemed Disposition and Capital Losses
Replies: 2
Views: 2534

Deemed Disposition and Capital Losses

Before we move to the U.S. (by the end of the month), we expect that we will have to sell those securities which would trigger a capital gain under CRA's deemed disposition rules. Our expected net capital gain is about $42,000. However, we are planning NOT to sell some of those securities on which w...
by worryfreeinvestor
Tue Mar 29, 2005 11:27 am
Forum: Canada / United States Tax & Accounting
Topic: Taxing income earned before mid-year departure
Replies: 3
Views: 3478

Thanks. Are you saying that if she continues to earn income after our departure date of April 30, she will report and pay tax on that income to Canada?
by worryfreeinvestor
Mon Mar 28, 2005 10:20 pm
Forum: Canada / United States Tax & Accounting
Topic: Taxing income earned before mid-year departure
Replies: 3
Views: 3478

Taxing income earned before mid-year departure

My wife and I live and work in Canada. On April 30, we will move to California, where I will be working. My wife is self-employed in Canada and has not yet paid any 2005 income tax to Canada. She has not and will not be working in the U.S.
To which jurisdiction will she pay 2005 income tax?
by worryfreeinvestor
Mon Mar 28, 2005 2:14 pm
Forum: Canada / United States Tax & Accounting
Topic: Please read/post about RRSP in US Here!!!
Replies: 59
Views: 35608

Thanks, that is great news, but again, given the cost of collapsing the RRSP, and the greater than zero risk of having to return to Canada, it is probably not a great idea to take them out of the RRSP. This takes some thinking about! <blockquote id="quote"><font size="1" face=&qu...
by worryfreeinvestor
Thu Mar 24, 2005 6:36 pm
Forum: Canada / United States Tax & Accounting
Topic: Please read/post about RRSP in US Here!!!
Replies: 59
Views: 35608

<u>Real Return Bonds (RRBs) in RRSP</u> I will move to California for a job in May. I know that California will tax my income within my RRSP, but (I think) that's ok because I'd have to invest it unsheltered in the US. Much of my RRSP is invested in Canada Real Return Bonds. However, if I held Gover...
by worryfreeinvestor
Thu Mar 24, 2005 6:25 pm
Forum: Canada / United States Tax & Accounting
Topic: Collapsing RSP
Replies: 7
Views: 6268

If you don't report to the state, is that not illegal and potentially catastrophic, not only in terms of tax-penalties but visa status in US? I.e. one becomes "undesirable"? Is the risk of the state auditing you truly zero?