Search found 137 matches

by Mark T Serbinski CA CPA
Wed Jan 31, 2007 2:57 pm
Forum: Business & Personal Immigration to Canada
Topic: WARNING: Please avoid inappropriate postings
Replies: 1
Views: 40568

New Anti Spam Procedures

Hello All:

We have now instituted new anti spam registration procedures, which require registrants to identify pictures. This hopefully will prevent spam robots from contaminating our forum.

Thank you all for your diligence in keeping our forum clean.
by Mark T Serbinski CA CPA
Sat Jan 06, 2007 10:57 am
Forum: Canada / United States Tax & Accounting
Topic: Signature Authority for Foreign Bank Account
Replies: 3
Views: 3293

If you are a signatory only, and do not have a beneficial interest in the account, your only obligation in the U.S. would be to file form TDF 90.22.1 each year.
by Mark T Serbinski CA CPA
Sat Jan 06, 2007 10:55 am
Forum: Canada / United States Tax & Accounting
Topic: Stock purchase in Canada, sold after move to US
Replies: 4
Views: 4342

Let's look at the other side of this. If a Canadian citizen lives in the U.S. and buys stock which appreciates, there is no deemed disposition on departure from the U.S. and the deemed acquisition cost base is the fair market value upon entry to Canada. Therefore if the stock was sold at the appreci...
by Mark T Serbinski CA CPA
Thu Dec 21, 2006 11:23 pm
Forum: Canada / United States Tax & Accounting
Topic: Withholding - self employed nonresident alienworking in U.S.
Replies: 1
Views: 2081

A lower amount may be withheld depending upon the country of residence and the specific income being paid. Payments made to non resident aliens for services rendered OUTSIDE of the U.S., are generally not subject to withholding. Forms 1042S et al are used to report the type of income, and the withho...
by Mark T Serbinski CA CPA
Thu Dec 21, 2006 11:15 pm
Forum: Canada / United States Tax & Accounting
Topic: A Question of Moderation
Replies: 9
Views: 5975

Spam

We have taken every effort to remove all spam from this forum. Our efforts include a new registration process which required a copy of an image file (which spambots have trouble using), restriction of access from IP addresses which have generated spam, etc. If you see spam on any of our forums, plea...
by Mark T Serbinski CA CPA
Fri Dec 15, 2006 7:56 pm
Forum: Business & Personal Immigration to the United States
Topic: US Immigration 101
Replies: 3
Views: 6334

I agree.. great link.. Thanks
by Mark T Serbinski CA CPA
Wed Dec 13, 2006 6:43 am
Forum: Canada / United States Tax & Accounting
Topic: TAX WITHHOLDING ON W-2
Replies: 3
Views: 3513

You will be subject to federal and possibly state income tax withholding based on your W4 submitted. The W4 outlines the number of exemptions you have (similar to a Canadian TD 1) and controls the withholding rate. Your rate will also be based on the income you are earning, with more tax % withheld ...
by Mark T Serbinski CA CPA
Wed Dec 13, 2006 6:37 am
Forum: Canada / United States Tax & Accounting
Topic: Stock Losses in US carried over to Canada
Replies: 12
Views: 7494

Here is an interesting point to note for (non U.S. citizen) Canadians temporarily in the U.S.: Let's say you buy stocks in the U.S. while you are a non resident of Canada, and over time, the stocks appreciate in value. When you move back to Canada you are deemed under Canadian law to have acquired t...
by Mark T Serbinski CA CPA
Thu Dec 07, 2006 9:30 am
Forum: Canada / United States Tax & Accounting
Topic: US RESIDENT RECEIVING CANADIAN AIRLINE PENSION
Replies: 3
Views: 3414

... and it will be taxable in the U.S. to the same extent it would have been taxable to you if you were a resident of Canada. That means that if a portion of your pension would have been tax exempt in Canada, that same portion is deemed to be tax exempt in the U.S., regardless of where you worked (s...
by Mark T Serbinski CA CPA
Tue Nov 21, 2006 7:55 pm
Forum: Canada / United States Tax & Accounting
Topic: Immigration Forum Resurrected
Replies: 1
Views: 2320

Thanks Pamela.

We think it will become popular once the word gets out.
by Mark T Serbinski CA CPA
Wed Nov 15, 2006 10:55 am
Forum: Business & Personal Immigration to the United States
Topic: Welcome to our New U.S. Immigration Forum
Replies: 1
Views: 24834

Welcome to our New U.S. Immigration Forum

We are pleased to announce that we will be opening a new forum dealing with business and personal immigration to the United States, to be hosted by James D. Eiss, immigration attorney in Buffalo, NY. ( http://www.usvisahelp.com ) We welcome Jim to our forums, and we believe that his participation wi...
by Mark T Serbinski CA CPA
Wed Aug 23, 2006 6:38 am
Forum: Canada / United States Tax & Accounting
Topic: A question about MFJ - how to deal with CDN tax
Replies: 3
Views: 2989

Your total foreign tax is the tax as calculated on each of your Canadian returns. For foreign tax credit purposes, you pick up: Line 435 (total tax payable) Line 308 (CPP) if any Line 312 (EI) if any But... if you are working in the U.S. and living in Canada, a foreign tax credt in the U.S. will onl...
by Mark T Serbinski CA CPA
Sat Jul 01, 2006 7:35 pm
Forum: Canada / United States Tax & Accounting
Topic: 1099 Controversy, IRS 20 point checklist, and Form SS-8
Replies: 2
Views: 3346

IRS has always wanted to classify independent workers as employees, and has assessed companies for failure to withhold and remit taxes and social security in many cases. If you take this route, then really the onus for the payment of social security and tax withholding or estimated payments will res...
by Mark T Serbinski CA CPA
Mon Jun 26, 2006 10:21 am
Forum: Canada / United States Tax & Accounting
Topic: CND on TN, reporting foreign income on 1040
Replies: 2
Views: 3116

You need to make an election under IRC 6013(g) or (h), or 7701(b) depending on your marital status. This will enable you to either claim the FEIE or foreign tax credit, rather than filing a dual status return for your year of entry to the U.S.
by Mark T Serbinski CA CPA
Thu Jun 15, 2006 12:03 pm
Forum: Canada / United States Tax & Accounting
Topic: Best corporate structure - performing U.S. personal services
Replies: 2
Views: 2831

I agree... but many companies in the U.S. are reluctant to pay an individual, for fear of having you classified as an employee. Since this would subject them to possible penalties, most require that you use a coproration. The choice of corporation would depend upon your residential status in Canada....