Serbinski Accounting Firms

Well, I guess many Canadians working in US had the same quesion - how to report W2 to CRA. I searched the previous posts - as far as I understand, you are supposed to report box1 + box 12D ( 401k or other plan) to CRA. Then how about box 10 - Child Care Benefits (FSA). Shall I add that amount then d...

Hi, Nelson,

My wife moved to US this september and We know we can't claim moving cost for emigrating out of Canada. However, I had move within US in July because of Job Change. Can I claim that cost in my Canada Return?

Thanks.

I did some stock trades in E*Trade last year. While reviewing my 1099B, I found it does not include one option trade. I sold an covered call and bought to close few days later and made around $200. I read some publications so I don't mind add this $200 as my capital gain. However, I have a concern t...

In 2006 and 2007, I was working in USA and my wife went to school in Canada. In early 2007, Ｉbought $4000 RRSP for me and $4000 Spouse RRSP for my wife using my after-us-tax money. ( I exchanged US dollars to Canadian dollars and bought it). My wife has moved to US in late 2007. Now we are filing ...

Thank you all for reply.

I want want you know that I did collect Child credit in the last two years even my kid does not have a SSN. I use ITIN too as I think I can use Treaty clause.

One of my friend's wife went to Los Angels last October for a new graduate job offer. Her husbans stays in Toronto. I used knowledge I learned here to give them some tax advice. I believe that since the husband make much more money. It does not make sense for them to file jointly in US. Therefore, w...

Nelson, I searched the forum and can't find related form 2441 question. I participated the Childcare flexible spending account plan provided by the employee. In the instruction for form 2441. it said we must put each qualified person's SSN into column b of line 2. My child was born in Canada and he ...

I just saw your post. Professional is professional.

I over estimated my canada tax obligation for 2006 therefore, I bought full RRSP and only used a small amount of it. Now I want to get the money back with the form T3012 A - Tax Deduction Waiver on the Refund of Your Unused RRSP Contributions. Does anyone here has experience for this form? How long ...

Hello, I just have a question : For canadian tax. Can I use both the Foreign Income Taxes as a Deduction From Income (IT-506) and Federal foreign tax credit at the same time (IT270) for my foreign employment income? I read the Income Tax act, section 20(11) says: (11) In computing the income of an i...

This makes sense as US do not have to give me credit for the canada tax accurred on my US income. You mentioned " THe credit for US-sourced income applies only if Canada would not give you full credit foryour US taxes (this would apply to US-sourced interst and a few other things), I would not ...

how do I use this credit? In Pub 514 Your foreign tax credit cannot be more than your total U.S. tax liability (line 44 Form 1040) multiplied by a fraction. The numerator of the fraction is your taxable income from sources outside the United States. The denominator is your total taxable income from ...

Hello, Nelson,

I am pretty sure that I must pay Ontario Health Premium because of my income even I can use RRSP and previous tuition to avoid other Canada Tax. Can I use this Ontario Health Premium as Foreign Tax Credit in my US return?

Thank you.

Thank you Nelson. Just to clarify, I can still use F8833 to do treaty? Or is there other way because I will use 2555?

Have a nice weekend.

You need to report Foreign earned income first then ask it to do exclusion. It is a confusing design anyway.