Serbinski Accounting Firms

Has anyone used TransferWise to transfer funds out of the U.S.? Just wondering if they're worth using.

Thanks.

[quote="nelsona"]I guess you wasted your time shipping it to the border.[/quote]

Not quite. Shipping and brokerage charges to Canada can be outrageous, compared to a U.S. border point. (Try shipping UPS to Canada, and you'll see what I mean.)

[quote="nelsona"]It should be only the item value including tax.[/quote] That's what I thought. But the border guy said I had to pay tax on the total amount I paid, including what it cost me to get it to the border. I was sure I had seen this scenario explained on the CBSA website in the p...

Not sure if this is the correct forum to ask this question, but I don't know where else to turn. I live in Canada. I purchase an item from a U.S. source and ship to a border point within the U.S. I then pick up the item in the U.S. and transport it across the border into Canada myself. At the border...

exPenn: I agree that there *should* be no impact on the U.S. tax return--that's what I would have expected. A comparable scenario is how the CRA and IRS tax interest income held in joint accounts: CRA taxes it based on source, whereas IRS normally taxes it 50/50, regardless of the source of the fund...

Now that the Canadian government is promising income splitting, I'm wondering how that might impact U.S. citizens living in Canada like my wife. My wife is a U.S. citizen and I am Canadian, both living in Canada. Since my wife has very little income of her own, it would be beneficial to take advanta...

"US taxpayers resident in Canada are not taxed in US anyways."

Could you please elaborate?

exPenn: In another thread (http://forums.serbinski.com/viewtopic.php?t=8370), Dalthien provided an interesting link that suggests that IRS sometimes decides that joint accounts should not be taxed 50-50 (http://www.woodllp.com/Publications/Articles/pdf/Who_Pays_Tax_On_Joint_Bank_Accounts.pdf). The a...

Probably a dumb question, but on Part III of Schedule B, I see the above language. So can anyone explain these terms:
"grantor of"
"transferor to"

Thanks.

Do you know whether the 50-50 IRS rule applies to U.S. persons living in Canada?

If so, the solution is to simply take the U.S. person off the accounts?

I just got off the phone with the International Tax Services help line (267-941-1000, as given by http://www.irs.gov/uac/Contact-My-Local-Office-Internationally). I asked about taxation on joint accounts where such accounts are owned jointly by a husband and wife. They said that, for married filing ...

Just wondering if anyone else has any input on this question. I have precisely the same concern as zilla. I am a U.S. citizen living in Canada with my non-U.S.-person spouse. We have savings accounts in Canada that are joint solely for the purpose of estate planning. These joint accounts hold funds ...

I am a U.S. citizen living in Canada. Just wondering what options (if any) are available for filing a 1040 return online with Form 8891.

Thanks.

I asked four Canadian establishments whether a Canadian citizen living in the U.S. could open an account without a Canadian mailing address:
Two credit unions said No.
Bank of Nova Scotia and Bank of Montreal said Yes, with appropriate ID presented in person.

[quote="exPenn"]To open an account they all ask for a Canadian Social Insurace Number. This might be the biggest impediment to opening a Canadian account. Have you tried a TD (Toronto Dominion) Bank N.A. branch? They have branches all down the East coast, including Maine. TD advertises ext...