Serbinski Accounting Firms

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...

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?

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?

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="Verdana, Arial, Helvet...

<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...

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?