Serbinski Accounting Firms

Thank you Carson.

To maximize the trust and other tax issues, is there any benefit to be gained by timing a move? For example, is there any impact of say moving and declaring Canadian residence on December 31st versus say January 1st?

Thanks.

No one has responded to this question, and I was hoping that someone may have some insights.

I am a US citizen and resident who may be moving to Montreal with dual citizen spouse. I am currently a minority shareholder of a US based S Corp, a majority "shareholder" of an LLC and an independent consultant/contractor (i.e. a 1099). I have been led to believe that if I move, that my b...

I thought it went both ways. My apologies.

What if a US citizen establishes a foreign immigration trust and spends say 48 months in Canada as a resident then moves back to the US. 2 years later, the same US citizen moves back to Canada to become a resident again, can they re-establish a new foreign immigration trust and get another 60 months...

I am the president of a newly U.S. based Start-up company (S-Corp) and we would like to hire a person that is currently working under an H-1B with another company. Questions: 1) Given that we are only 1 week in existance, what if any challenges do we face in getting approval from CIS to sponsor an e...

Thanks Nelsona. I hate to keep this string going, but I think the numbers may have gotten mixed up on your answer. Canadian source for wife was $50,000 and US source for Husband was $150,000. I understand that there is a limit on the US tax credit of $80,000, but unsure about the Canadian tax credit...

Thanks. To clarify, are you saying that all income earned by both wife and husband is taxable in Canada first (regardless of source) and then applied toward the 160,000 US tax credit? Or would the Husband's income be taxed first in the US then applied to a Canadian Tax credit? Or am I way off on the...

Situation: wife is a dual citizen (Can & US thru marriage) and resident of Canada. Husband is a US citizen and living with wife in Canada. Wife works in Canada and earns say 50,000 CAD. Husband works for a US company and works vitually from Canada with several trips to US (say 30% of the time) a...

I was wondering if there was any closure on this subject as it seems that Mark and Nelsona have opposite positions. If there is still a friendly disagreement, would there be a safe harbor similar to an advice of counsel defense if a person did not pay taxes on their Roth IRA distributions based on a...

This is an ongoing debate with my Canadian wife. Thanks for the reply. Do you happen to know if CRA has anything published on the subject?

Thanks again for this and all other replies as my situation seems to continue to evolve weekly.

Rick

I am a US citizen and a 50% shareholder of a US based S corp. We are a technology consulting company and we have been approached about doing a project for a Canadaian based company. To perform the work, I would have to be physically present in Toronto and Montreal and the project would last approxim...

I've heard that in Quebec that there is a small tax (something like a Property Transfer Tax) to the buyer when you purchase a home, but I recently heard that there may be a separate tax if you are buying your first home. If anyone could tell me what my approximate liability would be on let's say a $...

Thanks for all of the clarifications. As for your last comment, my factual situation is that I am a US citizen and my wife is a Canadian citizen living with me in the US on a green card. We are thinking of spending 5 months next year in Canada for her maternity leave and then coming back to the US. ...

This is a good string, and I have a few questions that I was hoping you could expand on: ______________________________________ "As long as you spend more than 183 days a year in US, you can claim that you are a "Deemed non-resident" for Cdn tax purposes, which means you file a Cdn re...