Serbinski Accounting Firms

You report $60K on 16a and $20K on 16b. You can use the entire $15K as a tax credit, but as you will no doubt see, this amount will be reduced DRASTICALLY, to about $5K, depending on your oyther income and marital status, as it will be in essence the tax you pay on $20K as a percentage of your total...

The rules are pretty clear: Days WORKED divided by total days PAID to work.

There is even an example in Pub. 54 that matches your case entirely, did you read it?


http://www.irs.gov/publications/p54/ch04.html#d0e2926




<i>nelsona non grata... and non pro</i>

Your interpreation is correct about source. Publication 54 speaks to this directly, and shows how to calculate it: days <u>worked</u> in US over total days paid so not 10/365 but more like 10/200. You are correct that FTC cannot be taken for this income, but you could take the pro-rated portion of y...

I wonder what would happen if a perpetual tourist became tax resident in Canada for a while, and then returned to being a perpetual tourist -- would the "stigma" of Canadian tax residency stick with them? Of course, this is ia serous dilemma that Cdns (albeit a tiny fraction) who want to '...

If its a retirement plan, if she 'takes it with her', she will be fully taxed and penalized, so take that into consideration in your decision. If she does it before becoming Cdn resident, she will pay full IRS tax, sate tax, and 10% penalty. If she takes it after going to Canada, she will be fully t...

Form 8891 does away with the all 'statements' related to RP 02-23 including 'transferor' and 'tranferee' staements. You will note that the 8891 advises that even if you transferred an RRSP, the election made on the old account(s) remains valid on the new one(s), and the year of first election remain...

If you have been reporting every year with <i>any</i> statement, then use 2002 as the first year your statement was for RP 02-23, since everything on the information on the old 89-45 statement covers all that is required. That line is specifically for those who only used 89-45 sporadically (it was n...

Of course. The form is already mentionned in the 1040 instructions, and in the form 3520 instructions, so IRS is expecting it. If you've already submitted your paper 1040 (prior to the release) and include a RP 02-23 statement, that is fine. But if your sending in your 1040 now, the Forms should go ...

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica" id="quote">quote:<hr height="1" noshade id="quote">I conclude from this that the best course of action is not to choose FEIE, unless and until it really pays off. It app...

Whore, of course not (since I'm not paid). Nympho mebbe?


<i>nelsona non grata... and non pro</i>

I agree, you are splitting hairs. There isa a differnce between saying "I want to be taxed as a resident of US" and actually making an irrevocable choice to do so (which is the election). Filing a 1040NR when one could elect to file a 1040 is a known issue that CRA has indeed used. Cros bo...

I guess I'll change my signature

<i>nelsona non grata... and non pro</i>

A person selling their house one year after leaving canada is not subject to cDn tax, due to the manner in which gains are calculated for a 'change of use'. Remember the 'years plus one' rule. failing to report, if no tax is owed, is slightly worse than tearing off the tag of your matress. Nothing n...

As you know, rhollan, if you were, for example to move to US on July 2nd 2005, you would not be considered a US tax resident by IRS until, at the earliest, April 1st 2006, and that would be if one never left US during that entire time. Remember, you cannot take a treaty position on residence until y...

An empty house 100% in her name would still be fine. What has changed is the birth of the deemed non-resident status, since 1998. Now moving to a treaty country requires almost no breaking of Cdn residency, so long as you satisfy the residency requirements of the other country, and 'outweigh' your C...