Serbinski Accounting Firms

They seem to have disabled all the html codes for this board, smileys, quotes, etc. As to why get them out?: (I still have my RRSP, btw) Here are a couple of reasons: 1. If you collapse them as a non-resident, you pay 25% tax at most. If you return to Canada, the least you would pay (unless you stop...

You *might* be right. bUT, I'm pretty sure there is a formula applied as to what portion of the RRIF withdrawal is considered 'periodic' and what portion is considered 'lump-sum' and thus taxed at 25%. This is based on age. Otherwise, everyone leaving US would convert to RRIF before collapsing to sa...

No you do not. I'm unclear as to why IRS wnats to know so many details about RRSPs, but CRA -- to its credit -- does not care about these unimportant details. YOU, of course, would want to keeep meticulous records of all contributions made by you that were included in your Cdn income, for future use.

.. that is, you cannot exempt yourself...

Your 'first year' taxes are dicussed at legnth on dozens of threads here, happy browsing. You casnnoy exempt yourself from any of thepayroll taxes you mentionned, sdinceyou areemployed in US, and in CA. Employee expenses are pretty losely defined. i would suggest looking at theIRS website for specif...

There is no requirement to send only one form, my wife and I usually send 3: 1 for my accounts, one for hers, and one for joint.

Filing a 1040NR, when you could have (but were not required to) actually was a favour to IRS, so I wouldn't worrry about it. All the paragraph you mentionned states that Cdn commuters don't have to worry about the SPT and needin gto file 1040. As to depreciation, I'm sure you can figure it out. Reme...

Everything you report to IRS is in $US, and in the category that it would be if it was from US. Rental income and expenses go on Schedule E (don't forget that you MUST depreciate property on your 1040, unlike Canada). Tyen, you designate what is foreign for the purposes of getting any foreign tax cr...

Rule of thumb. never send any original to USCIS.

That is how it used to be, but since 2000 those moving to US can use the deemed disposition value asa new basis.

For stocks that have lost, you don't have to do this, so you can double up on your cap loss claim.

So, your first task is to redo your 2005 Cdn (and probably US) return.

The mortgage interst and property taxes on your home are deductible regardless of where it is.

Your Cdn salary goes on the wage line. You have to report it in US$. You should use the official exchage rate pubklished by the bank of canada for 2006.

IRS doesn't require any docs to be sent.

Yes, FICA is SS and medicare tax.

If you file joint 1040, then all world income for both of you is reported.

His US income will of course be reported in canada too, unless you are saying he has just recently moved to canada.

The tax savings come from being able to claim the standard deduction, which is something like $11,000, or allows you to itemize and thus claim mortgage interst, state tax, prpoerty tax etc, many of which you cannot claim on a 1040NR. If you are married it allows you to file jointly, giving an even b...

US has absolutely no business telling you what you can or cannot do in canada.

If its all the same to your Cdn 'employer', you should just be paid as a contrator, not as an employee. That way you don't have any CPP/EI issues, and your income is excludable in Canada without limit.