Search found 143 matches

by worryfreeinvestor
Sat Apr 15, 2006 7:47 pm
Forum: Canada / United States Tax & Accounting
Topic: Turbo Tax, RRSP Distributions, Form 1116, Deductions, Credit
Replies: 17
Views: 13825

All I can say is that I have also struggled with TurboTax. I have Canadian income, including capital gains, and want to claim a foreign tax credit. It is very difficult to be confident that TurboTax knows what it's doing in this regard. If your foreign income and foreign tax paid are reported on a 1...
by worryfreeinvestor
Fri Apr 14, 2006 12:50 am
Forum: Canada / United States Tax & Accounting
Topic: Tax software for doing both Canadian and U.S returns
Replies: 19
Views: 8839

Form 8833

Nowhere does it say that Form 8833 is used by married couples in year of move to choose U.S. resident status. Pub 519 US Tax Guide for Aliens page 9 says to submit a "statement". The authority for married couples to choose this, if both become U.S. residents during the year, is IRC 6013(h), NOT the ...
by worryfreeinvestor
Thu Apr 13, 2006 11:34 pm
Forum: Canada / United States Tax & Accounting
Topic: Tax software for doing both Canadian and U.S returns
Replies: 19
Views: 8839

Thanks again. Plus, as I am electing to file as a resident for all of 2005, and possessed non-registered Canadian a/c's worth more than $10,000 during 2005, I suppose I also have to file Form TD F 90-22.1 by June 30, 2006, right?
by worryfreeinvestor
Thu Apr 13, 2006 3:57 am
Forum: Canada / United States Tax & Accounting
Topic: Tax software for doing both Canadian and U.S returns
Replies: 19
Views: 8839

Now to the US return

Pleased to report that thanks to your, (primarily nelsona's) advice, I have successfully used Quicktaxweb to do Canadian taxes, printed it out and mailed it in. I know that this is NOT a software forum, but nevertheless: I'm using TurboTax for U.S taxes, and planning to file married filing jointly v...
by worryfreeinvestor
Thu Apr 13, 2006 3:38 am
Forum: Canada / United States Tax & Accounting
Topic: RRSP contributions by a U.S. resident - advice please
Replies: 12
Views: 5501

Why would anyone move from Canada to the Twin Cities?

There's no surfing there, is there? When I state "illegible", I don't mean that literally. I just mean that the Rev Proc 2002-23, as written, is gobbledygook. But back to cmkellar's last comment: At any rate, it's good to know that the contributions I made recently are allowed by the U.S. The IRS ca...
by worryfreeinvestor
Thu Apr 13, 2006 3:24 am
Forum: Canada / United States Tax & Accounting
Topic: Need advice on whether to File CDN Taxes- CDN (PR) + H1B
Replies: 2
Views: 1663

Given the info you've disclosed, I'd say it's unlikely that you have to file a Canadian tax return, but if you think there's any risk, I'd recommend seeing a pro. If you have non-registered investments in Canada, you should have already told your financial institution(s) that you are a non-resident,...
by worryfreeinvestor
Wed Apr 12, 2006 1:40 am
Forum: Canada / United States Tax & Accounting
Topic: RRSP contributions by a U.S. resident - advice please
Replies: 12
Views: 5501

Where is Rev Proc 2002-23?

I sympathize with cmkellar's inability to find Rev Proc 2002-23, because it is not possible to find it at www.irs.gov via its search function. I am grateful to Google and Uncle Fed for presenting to us. In any case, actually possessing Rev Proc 2002-23 may be good for something: starting a fire, sla...
by worryfreeinvestor
Sun Apr 02, 2006 6:39 pm
Forum: Canada / United States Tax & Accounting
Topic: Lowest marginal tax rate for 2005: 15% or 16%
Replies: 2
Views: 1354

Lowest marginal tax rate for 2005: 15% or 16%

Schedule 1 has 16% but the CRA website states 15%? Which is it?
by worryfreeinvestor
Sun Apr 02, 2006 6:37 pm
Forum: Canada / United States Tax & Accounting
Topic: Another Address Question
Replies: 5
Views: 2501

Perhaps the dumbest address question ever, but I gotta know

I departed BC on April 29, 2005, for the U.S. If I complete the paper T1 General, in the box "information about your residence", the first command is "enter your province or territory of residence on December 31, 2005." Below that, it commands "if you became or ceased to be a resident of Canada in 2...
by worryfreeinvestor
Sun Apr 02, 2006 3:09 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian provincial tax for non-residents
Replies: 13
Views: 5312

Sorry

I just noticed I referred to T1234, when I mean T1161, of course! Regret the error.
by worryfreeinvestor
Sun Apr 02, 2006 3:07 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian provincial tax for non-residents
Replies: 13
Views: 5312

RU sure.? I suppose it rests on grammatical interpretation. T1234 states: "Complete this form if you ceased to be a resident of Canada at any time in the year and the fair market value of all the properties you owned when you left Canada was more than $25,000, not including the following properties:...
by worryfreeinvestor
Sun Apr 02, 2006 2:47 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian in US on dependent visa working telephone to Canada
Replies: 2
Views: 1301

Thanks. Guantanamo Bay it is, I guess.
by worryfreeinvestor
Sun Apr 02, 2006 2:45 pm
Forum: Canada / United States Tax & Accounting
Topic: Another Address Question
Replies: 5
Views: 2501

Before I left Canada, I informed CRA of my new US address (April 2005). A while back, CRA (in Hull, QC) mailed me T1 package, with a sticky label carrying my U.S. address. There are two quirks: I have moved within the U.S. since that date; and they set me a T1 package for Ontario, but I moved from B...
by worryfreeinvestor
Sun Apr 02, 2006 2:35 pm
Forum: Canada / United States Tax & Accounting
Topic: Best tax arrangement for a Canadian working for a US company
Replies: 9
Views: 3294

There are tons of management consultants in Canada who win contracts with U.S. companies and fly/drive down periodically to consult in person with their clients. HOWEVER, as with so many issues in this forum, I can only report "second-hand news" as I have never been in such a situation. If you go do...
by worryfreeinvestor
Fri Mar 31, 2006 2:37 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian in US on dependent visa working telephone to Canada
Replies: 2
Views: 1301

Canadian in US on dependent visa working telephone to Canada

Here's a scenario on which I'd value input. A Canadian man resides/works in the U.S. on a TN1 or H1B or whatever. Wife has the appropriate dependent visa and cannot work in U.S. Wife is a consultant who sits in a home office in the U.S. and consults by telephone to Canadian clients in Canada. Canadi...