Search found 54 matches
- Mon Oct 19, 2020 10:48 am
- Forum: Canada / United States Tax & Accounting
- Topic: Question about income source from NSERC postdoctoral fellowship
- Replies: 15
- Views: 6720
Re: Question about income source from NSERC postdoctoral fellowship
PDF's can receive employment income, research grant income or both. A simple test is: who pays you? If NSERC pays you directly, it would not be an employment income. If your PI/university also paid you in addition (which would be fair) that component would be employment income.
- Sun Oct 18, 2020 6:17 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Question about income source from NSERC postdoctoral fellowship
- Replies: 15
- Views: 6720
Re: Question about income source from NSERC postdoctoral fellowship
You might also take a look at 3.88 and 3.89:
Your fellowship will be taxable as though it were received by a resident of Canada.
Your fellowship will be taxable as though it were received by a resident of Canada.
- Sat Oct 17, 2020 11:13 am
- Forum: Canada / United States Tax & Accounting
- Topic: Question about income source from NSERC postdoctoral fellowship
- Replies: 15
- Views: 6720
Re: Question about income source from NSERC postdoctoral fellowship
I think it is clear that this is CDN source income. Check out article XX of the treaty, it may be helpful. Note you may still be on the hook for state income taxes. Would Governmental service XIX apply here? Are you paid directly by Canada, or does this flow through your University? I do not think t...
- Sat Aug 15, 2020 1:58 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RPP rollover to Roth IRA
- Replies: 4
- Views: 2083
Re: RPP rollover to Roth IRA
I am subject to the Maximum transfer value limits. https://milliondollarjourney.com/how-to-calculate-pension-maximum-transfer-value-mtv.htm a) One may exceed the annual contribution limits to a Roth IRA by roll over. A roll over from a US pension (a qualified plan) to a Roth IRA is allowed if the am...
- Sat Aug 15, 2020 11:35 am
- Forum: Canada / United States Tax & Accounting
- Topic: RPP rollover to Roth IRA
- Replies: 4
- Views: 2083
RPP rollover to Roth IRA
I am considering withdrawing my RPP. I would transfer the distribution tax-deferred into my RRSP subject to the limits. I would like to take the remainder and transfer it to a Roth IRA. I understand I will have 25% of the cash portion withheld as Canadian tax due. I understand I would report the cas...
- Fri May 15, 2020 7:59 am
- Forum: Canada / United States Tax & Accounting
- Topic: Am I a Canadian Tax Resident?
- Replies: 5
- Views: 2522
Re: Am I a Canadian Tax Resident?
You are a permanent resident of the United States. It sounds like you have a substantial presence in the United States and a habitual abode there. Unless you have a third country with which you have a close relationship, I would say you are a US tax resident and a Canadian non-resident. a. No. If th...
- Thu May 14, 2020 8:49 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Am I a Canadian Tax Resident?
- Replies: 5
- Views: 2522
Re: Am I a Canadian Tax Resident?
Are you a US Citizen?
- Sat Apr 18, 2020 2:40 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US government stimulus check
- Replies: 48
- Views: 21345
Re: US government stimulus check
I know the stimulus check is not taxable in the US. Would it be taxable in Canada?
- Wed Apr 15, 2020 7:10 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US government stimulus check
- Replies: 48
- Views: 21345
Re: US government stimulus check
Nevermind my previous post, I was looking at the old bill. Earned income and tax libaility is gone as Nelsona described.
- Wed Apr 15, 2020 6:46 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US government stimulus check
- Replies: 48
- Views: 21345
Re: US government stimulus check
regarding ineligibility if one has reduced there income by using FEIE... One gets the lessor of $1,200 ($2,400) or their net tax liability, unless you are a "taxpayer described." A "taxpayer described" gets $600 ($1,200) + kids. A "taxpayer described" has qualifying inc...
- Sun Apr 05, 2020 2:46 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US government stimulus check
- Replies: 48
- Views: 21345
Re: US government stimulus check
(1) Foreign EARNED INCOME Exclusion. You are not eligible.
(2) "intentionally non-compliant" Hmm I am sure that ends well. "Under penalties of perjury, I declare that..."
(2) "intentionally non-compliant" Hmm I am sure that ends well. "Under penalties of perjury, I declare that..."
- Sat Mar 21, 2020 12:39 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Unemployment benefits for TN visa Job loss
- Replies: 8
- Views: 4208
Re: Unemployment benefits for TN visa Job loss
There is a treaty between the US and Canada that provides reciprocity for Employment Insurance (Canada) / Unemployment insurance (US).
https://www.canada.ca/en/employment-soc ... anada.html
https://www.canada.ca/en/employment-soc ... anada.html
- Sun Feb 09, 2020 11:37 am
- Forum: Canada / United States Tax & Accounting
- Topic: Income in both US and Canada
- Replies: 9
- Views: 4174
Re: Income in both US and Canada
It sounds as if you have become a resident of the United States to become a student. Why do you think you are a resident of Canada? Does your income from the US school come from a Canadian source?
- Thu Nov 07, 2019 11:35 am
- Forum: Canada / United States Tax & Accounting
- Topic: Question re: self-employed tax in Canada after immigration to US
- Replies: 12
- Views: 5990
Re: Question re: self-employed tax in Canada after immigration to US
Your situation looks like it could be addressed by looking at regulation 105 withholding as described in IC75-6R2. https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/ic75-6r2/required-withholding-amounts-paid-non-residents-providing-services-canada.html#P216_31172 Thus ...
- Thu Sep 05, 2019 8:47 am
- Forum: Canada / United States Tax & Accounting
- Topic: RIF withdrawals, US taxability
- Replies: 3
- Views: 2052
Re: RIF withdrawals, US taxability
Your non-taxable portion is considered an "Investment in Contract," IRC § 72(c)(1)(A). You should fill out the worksheet for each year of contribution, gain and withdrawal here, or create similar.
www.garygauvin.com/WebDocs/RRSP%20Inves ... ummary.pdf
www.garygauvin.com/WebDocs/RRSP%20Inves ... ummary.pdf