Serbinski Accounting Firms

One more thing, I am single but since I moved in May I've exceeded 183 days presence test for 2016, so I have to file full year 1040 right? Or is it better to file 1040NR and save the hassle of FBAR/8938 reporting?

Thanks, But, given RRSP is sheltered in both US/Canada, wouldn't it be wiser to maximize it for longer term purpose? Assuming a 100% in capital gains say 10 years later, putting that money in RRSP in Canada vs unregistered in US, the latter will require reporting regardless of what my status is in U...

Hello I moved to US as TN status in may 2016, new US employer. I will file tax for Canada as usual and declare departure date of 05/2016 with Canadian income until then. US side I will likely file 1040 and NY state tax with my US+Canada income for all of 2016 and claim the tax paid to CRA as foreign...

My intention of leaving it open until end of 2017 is just in case I move back. Who knows what would happen to TN/NAFTA so. I misunderstood previously, I thought I only had to sell the assets and move the money outside of the account so US will not consider the gains for tax purpose, as well for the ...

Thanks. But even with a small sum of 400? I thought FBAR requirement is aggregated sum of US10000 or more. For the closing of TFSA and non-registered accounts, given that I'm already into 2017 does that also mean FBAR will need to be reported next year as well? So I just need to make sure I close it...

Related question. I have TFSA/Cash accounts held under TD Direct. I've sold and withdrew the assets before I moved from Canada to US last year. However, there are still some small cash remaining (from dividends posted after, or fee rebates) in the accounts for a sum of about 400. Is it ok to just ke...

Thanks very much for your help, I've read through your suggestions and they make sense now. One thing I would like to clarify regarding the RRSP strategy. When you say crystallize the gains, do you mean sell the winning stocks and buy the same immediately again so that the cost is adjusted before en...

Thanks So onto your first point, that means I need to be a non-CA resident and invest in US vehicles using whatever cash I bring with me, and purchase until I cease being a US resident at which point I can cash out when I return to Canada? In that case, do the investment need to be registered? Other...

Erh...why doesn't the quote work and I can't edit it out. Sorry for the mess.

[quote="nelsona"]1. The reason to abandon TFSA while in US is that it is not only taxable, but there are severe reporting and additional tax requirements that are, in my opinion, not worth the headache. The reason to abandon any non-sheltered investment accounts is quite simply because the...

Hi I've been reading some topics on tax systems in US/CA but still have some questions on my situation, hoping to find some expert advice here. I got a job offer and will be moving to NYC in May under TN visa. I'm not sure how long I'll remain in the US, but presumably short term (2-3 years) before ...