Serbinski Accounting Firms

No.

I read what you said. Since your house was your principal residence in canada, the treaty treats it differently. Go with FMV.

all that you have shown me applies ONLY to depreciation (ie. determining what figure to use to start calcualting CCA/depreciation. So, yes, the capital cost will be different than the FMV for Cdn purposes. My reference to change iof use not applying was incorrect. I was thinking of the 4-year rule. ...

Dual status almost never gives a good result, since it still prevents standard deduction. By the way, he wouldn't be usuing the first year choice, since he meets SPT in 2006. First-year choice is for those arriving late in the tax year. If stacking gives rise to US tax, then FTC might be a better wa...

When you use 1040, you report all world income. That is the law.

The treaty does not allow you to exempt interest from canada on a 1040.

Your interst is part of our worl;d income.

... but if you are a contractor in US, ther is a good chance you are not taxable by IRS (you will be by Michigan).

If you are an employee, you should seriously consider shifting to contract.

Your travel expenses, since you are an employee are not deductible. Your situation is much like a guy working in Toronto when he lives in Sudbury. Your travel is merely going back and forth to work. Now, if you are NOT an employee (are getting paid by 1099) then your expenses are legit in canada. Tr...

The 183 day rule does not enter into the picture, because, as you said at the outset: You moved to canada. You work IN canada. You are not merely visiting Canada for an extended period. So you became a Cdn resident on some date in 2006, and you report your world income to canada after that date. Bes...

Are we talking US tax or Cdn tax? In canada, the cost basis for cap gains will be based either on market value the day you left, or a formula of total growth divided by the years it was your residence. CCA will be added to that calculation. There is no change of use fro non-residents. In US, for cap...

Keats strategy of declaring RRSP income as "passive" for foreign tax purposes, relies on having NEVER used any treaty exemptions, thus paying yearly tax on int/div/capgains. This is fine. Trouble is, most now use the treaty, since it has become very easy with Form 8891. But once you use th...

he whole point of filing by XXV(4) is that you and your spouse have lots of other income than your US wage.

If you don't, then you don't need XXV(4), and just file a 1040 like anyone else.

Your Cdn interest is not reportable on 1040NR, but should be on your 1040 proforma, along with your wfe's income.

This only works if you and your spouse have other income. If you don't thaen just file a 1040 and be done with it.


Are you even married? Were you jerking me around, or what?

So...you're saying I have to QUALIFY to move to Canada? OF COURSE. Do you think that all Cdn citizens marry perfect little angels?! What if you were a convicted meth dealer, or a kiddie porn peddler. Do you think that Canad would just let you in because you managed to get your hooks on a Cdn citizen...

Line 256 is for -- among many other things -- income that is not taxable in Canad by treaty. None of the income you have is not taxable in Canada by treaty. I'm sure you will find that many of the lines in the tax form don't apply to you, but they leave them there for others ;0). So, in Canada, one ...

You only change one line on your 1040NR: line 58. You do this by LINING out the normal ammount, and indicatingb the revised ammount below it. You don't change any of the other entries. As I explained in the other thread about this process (just because I told you not to jump on that thread doesn't m...