Search found 18288 matches

by nelsona
Mon Apr 16, 2007 5:20 am
Forum: Business & Personal Immigration to the United States
Topic: Volunteering
Replies: 3
Views: 4774

You can volunteer for an organization which normally uses volunterrs, in a position that is typically unpaiud. For example, you could volunteer for Red Cross, but not in a job that they normally pay for. You couldn't volunteer for your local city hall for example, to do web services, since this is s...
by nelsona
Mon Apr 16, 2007 5:00 am
Forum: Canada / United States Tax & Accounting
Topic: Can interest from Canada be excluded using 2555?
Replies: 7
Views: 4721

allen, did you complete your Cdn taxreturn? On it you will find all sorts of income,wages, cap gains, dividends, UI, rental and interst. ALL these incomes are reportable in US/ All of these were taxable in canada too. You DID pay Cdn tax on your interest: it's part of the total tax you paid on your ...
by nelsona
Mon Apr 16, 2007 4:42 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian Resident: US capital gains, 1040NR and Canadian Tax
Replies: 37
Views: 27955

I misspoke above. So long as you are not a GC holder or US citizen, you can exclude the gain on 1040 (in the year you move). If you wre GC or USC, you do not get any tax benefit, becuase: What tax would you have paid in canada? the cap gains in Canada is based on the value the day you moved back, no...
by nelsona
Sun Apr 15, 2007 10:16 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian Resident: US capital gains, 1040NR and Canadian Tax
Replies: 37
Views: 27955

Since you are filing a 1040NR, you can expalin it there.

If you file a 1040, then you can't claim this exemption.
by nelsona
Sun Apr 15, 2007 10:14 am
Forum: Canada / United States Tax & Accounting
Topic: Nonresident alien - reporting cap gains dist/dividends
Replies: 13
Views: 8274

First off, the good news is that you are NOT a US non-resident, since you live in US. I say that this is good news, because this allows you to file a regular 1040 AND allows you to NOT report your Govt income. Your standard deduction (you and your pouse should file jointly), plus your exemptions, sh...
by nelsona
Sat Apr 14, 2007 6:20 am
Forum: Canada / United States Tax & Accounting
Topic: The "valid passport" dilemma
Replies: 7
Views: 5725

AKK = ALL
by nelsona
Sat Apr 14, 2007 6:19 am
Forum: Canada / United States Tax & Accounting
Topic: The "valid passport" dilemma
Replies: 7
Views: 5725

The passport rule applies to AKK.

However, a GC is acceptable. And PC is correct that Airlines do not require PP, just photo ID. They are, however, required to ensure that passengers they check-in have the required immigration documents to travel to their destination(s).

Otherwise they pay a fine.
by nelsona
Sat Apr 14, 2007 5:15 am
Forum: Canada / United States Tax & Accounting
Topic: Using 8891 to report RESP?
Replies: 2
Views: 2537

Whoever told you this was incorrect, both for the reason they gave you and due to the way IRS views RESP. If indeed the RESP can be rolled into an RRSP (which requires a pretty narrow set od=f circumsttnces) then I would suggest that you do this, and then file 8891. For now, continue to file 3520 --...
by nelsona
Sat Apr 14, 2007 5:11 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian Non residency determination
Replies: 17
Views: 12670

You MUST report he income, otherwise you cn't file jointly. That the definition of MFJ.
by nelsona
Fri Apr 13, 2007 3:23 pm
Forum: Business & Personal Immigration to the United States
Topic: Legal costs for visa when switching employers
Replies: 3
Views: 5122

What does your lawyer say.

That is a hint to get a lawyer.
by nelsona
Fri Apr 13, 2007 3:22 pm
Forum: Canada / United States Tax & Accounting
Topic: 401K Withdrawl for Canadian resident. Help needed!
Replies: 4
Views: 3026

Nope.
by nelsona
Fri Apr 13, 2007 3:00 pm
Forum: Canada / United States Tax & Accounting
Topic: 401K Withdrawl for Canadian resident. Help needed!
Replies: 4
Views: 3026

Just to clarify what you accountant said, or should have said: You DO have to report and pay the 401(K) withdrawl in US, but you ALSO have to report it in canada. You also have the 10% early withdrawl penalty in US. Don't forget this. Other than the tax credit for the tax (but not the penalty) you p...
by nelsona
Fri Apr 13, 2007 1:26 pm
Forum: Canada / United States Tax & Accounting
Topic: Can interest from Canada be excluded using 2555?
Replies: 7
Views: 4721

When you file a 1040, you must report and pay tax on your WORLDWIDE income for the entire year. All of it. You can exclude Cdn wages (and only those earned before the move, by the way) with 2555. All other income must be reported, with tax due. you could have simply chosen to repoert the wages and u...
by nelsona
Fri Apr 13, 2007 12:11 pm
Forum: Canada / United States Tax & Accounting
Topic: 401K
Replies: 1
Views: 1770

Anything YOU contribute to your 401(K) will be taxable in canada, by adding it to the wage figure on your W-2. The firm's contribution will not be reported. You will be subject to PA adjustment. None of it is reported in US (in fact it will not even show up on your W-2 wage box) When you withdraw fr...
by nelsona
Fri Apr 13, 2007 9:27 am
Forum: Canada / United States Tax & Accounting
Topic: Canadian departure tax return - how long does it take ?
Replies: 2
Views: 2573

Departure return (in fact, all non-resident returns) are usually processed in mid-summer. They are last on the totem pole.