Serbinski Accounting Firms

I think I had got it backwards. From what I read everywhere, one should roll all 401K over to IRA when or after moving back to Canada. Do you agree with that nelsona? Also this year I am in kind of a tax situation that I might have to go with traditional 401K to reduce my taxable income. But startin...

Hi all, My eventual plan is to retire in Canada. My US employer matches my 401K contributions so I don't want to miss out on that. What is your advice in this regards? Also I think I've read somewhere I'm better off not putting it in a Roth 401K if I want to retire and move back to Canada. Is this t...

Thanks a lot nelsona!

I have a new question regarding this topic of owning a cottage in Canada. I cannot get a mortgage from a US bank for a house in Canada. If I get a mortgage from a Canadian bank (assuming it's possible), will that have any tax implications and how will it affect my US income tax return and will it al...

Thanks nelsona!
What if I don't rent it out? I won't be living in it though because my job is in the US. Would that be considered ties?

My departure return was in 2004 and have not filed Canadian return ever since. The only thing I've left in Canada is a bank account. Now I want to buy a house in Canada while still living in the US. What are the tax implications for both countries?

Thank you all for your advice.
What's the worst penalty I could expect for failing to file this in 2009 even after filing it late?

Thanks nelsona!
The combined amount went over $10K in 2009. So I should've reported the accounts in 2009. Thnx to esmarttax for screwing me! esmarttax sucks!
Is there any corrective action I need to take to avoid any penalties?

I am so mad at the accountant I hired back in 2004 for not telling me about this :x . The good news is I had less than $10K in my Canadian account back then.

It is not clear to me what they mean by a "United States Person". If you pass the substantial presence test, will tha make you a US person?

I've been using esmattax all these years and it never asked me if I had accounts outside the US. This year I switched to TurboTax and was surprised! Also, for my first year in the US, 2004, I hired an accountant who does both US & Canada but he never even metioned this form and he was quite awar...

I've been in the US on H1-B and TN for over 7 years and I file 1040 every year. What is this form TDF 90-22.1? and do I have to file it for my bank accounts in Canada?