Search found 54 matches

by Bubba Gums
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.
by Bubba Gums
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.
by Bubba Gums
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...
by Bubba Gums
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...
by Bubba Gums
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...
by Bubba Gums
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...
by Bubba Gums
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?
by Bubba Gums
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?
by Bubba Gums
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.
by Bubba Gums
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...
by Bubba Gums
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..."
by Bubba Gums
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
by Bubba Gums
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?
by Bubba Gums
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 ...
by Bubba Gums
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