Serbinski Accounting Firms

Finally, I got a penalty of 2500 + interest due to late filing T1135.
Anyone has idea how to appeal to CRA? Any tips?

thanks

I moved to US in Nov 2016 hence I changed my address of my TD bank account. Recently, I received a letter from TD bank to choose whether I am a US person or NOt.
To choose SCI-W8 or W-9? Which one should I choose? Considering, I live only < 2months in 2016 (US).

thanks

hi Nelsona, The problem is I was in country A, and the payer was in country B. It was a programming job. And, now I am in country C, which is USA. So, there is no tax receipt or anything. But, because there was a delay during e-transfer due to holiday season, which I don't anticipate the payment was...

Thanks for the reply. 1. how can I prove if asked by IRS? 2. to clarify, I stay in US only in Dec 2016. So, it means I dont' need to report in my US tax return 2016 right? 3. the payer is also outside US, so in this case no need to report. Correct? 4. The payment is only few hundreds dollar. But, if...

I provided a service to an overseas company in Jan 2016. However, the payment was sent online on Dec 28 2016. Then, the payment is just received in 2017.

The question is when should I pay the tax to that payment? 2016 or 2017?
Please note that the company is an overseas company.

thanks

Thanks I am clear on that now. My equity-type of investment fund (in RRSP) doesn't alter the book cost in each quaterly report (assuming no new contribution). As some type of investment such as fixed income will have re-invest its profit such as interest. This type of fund will have different book c...

Nelsona, I am still rather confused with "Internal income" of RRSP when residing in California. I am clear that I don't need to pay tax on RRSP to IRS. However, in california that treaty is not recognized. Hence, I need to pay tax on internal income even though not distributed (no withdraw...

What I mean by question #2 is (to use a correct tax term) is that: need to report RSSP "internal income" to California (I am moving to California). (i dont' withdraw money from rSSP, just keep it in canada) Do i still need to do report yearly? (ref: https://forums.serbinski.com/viewtopic.p...

hi Nelsona, On another answer, you mentioned that RSSP doesn't require reporting every year. I need to know the value before I move to US only. (https://forums.serbinski.com/viewtopic.php?t=11350) But, in this question here, you said it needs reporting. Even, under FATCA & FBAR. That means, RSSP...

Nelsona,
You said before that RSSP needs no reporting (under new regulation at end of 2014).
But, why you said it needs reporting to FBAR & FATCA?

1. Many advises saying to close RESP because of its complexity in reporting. What about my Canadian foreign bank account? how complex if I don't close it?

2. In canada, foreign property threshold is $100,000. Is that true in US is $10,000? Why some says joint reporting $500,000? what is it?

hi Nelsona, 1. What do you mean by filing a tax as non-resident will cause you a lot? 1b. how much difference are we talking about? double? 2. so if i stay only 6 weeks in US, can I choose to file tax as resident? 3. what consequences will that be? 4. if i move to use on Nov 14, and i choose to file...

I am still confused regarding NR73, if I dont' file it and decide to file as non resident.
1. How can I do that?
2. What about to stop child benefit? If already receive while I am out of Canada, what shoul I do?

I myself would prefer to be non resident as my salary in US will be much higher than in Canada and also the tax is lower. For these reasons, 1. should I notify them earlier? (sending NR73) 2. I am afraid they will send me child benefit. If they do, can I choose to be non resident and refund what the...

still confused. Do I need to notify or not? any impact? why on another thread, you mention let CRA decides? Any benefits?

thanks