Search found 292 matches
- Tue Dec 26, 2023 9:52 am
- Forum: Canada / United States Tax & Accounting
- Topic: Us citizen selling selling their home with CDN spouse
- Replies: 12
- Views: 91469
Re: Us citizen selling selling their home with CDN spouse
nowhere in poster's question does it state that the sold property was located in Canada and not in the US
- Mon Dec 25, 2023 9:03 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Us citizen selling selling their home with CDN spouse
- Replies: 12
- Views: 91469
Re: Us citizen selling selling their home with CDN spouse
"and may not even have to report the sale', if Cdn house and/or otherwise no 1099-S issued, don't report, if 1099-s issued, report.
- Sun Dec 24, 2023 11:12 am
- Forum: Canada / United States Tax & Accounting
- Topic: 8840 Question
- Replies: 12
- Views: 20944
Re: 8840 Question
RE:I may decide at some point to switch to the US, apply for a spousal green card - would filing 8840 have any impact on that or anything I should be aware of?
Filing a treaty tiebreaker for a year where you exceeded 183 days can jeopardize your green card!
Filing a treaty tiebreaker for a year where you exceeded 183 days can jeopardize your green card!
- Sun Dec 24, 2023 11:07 am
- Forum: Canada / United States Tax & Accounting
- Topic: 1099-INT tax withholding for CAD resident
- Replies: 5
- Views: 8974
Re: 1099-INT tax withholding for CAD resident
Bank interest is not reported on a 1040NR IF THE CORRECT WIHTHOLDING RATE WAS APPLIED is more accurate. b/c if wrong rate applied, IT IS REPORTED ON 1040NR SCH NEC
"Bank interest is not reported on a 1040NR"
"Bank interest is not reported on a 1040NR"
- Sun Dec 24, 2023 11:04 am
- Forum: Canada / United States Tax & Accounting
- Topic: 1099 for work performed in Canada
- Replies: 7
- Views: 6517
Re: 1099 for work performed in Canada
meaning there's no 'in the US' significance. the significance is where you're working. that will determine the source. It will also determine if you have the 183 days over the 3 year SPT. From a tax analysis, if you're not a USC or GCH and instead only on a visa, you can't be both 'in the US' and wo...
- Sun Dec 24, 2023 11:01 am
- Forum: Canada / United States Tax & Accounting
- Topic: 1099 for work performed in Canada
- Replies: 7
- Views: 6517
Re: 1099 for work performed in Canada
RE: Would it be necessary for me to declare this income, nevertheless, because I am physically located in the US? If you are a 'US person', which includes meeting the SPT you declare worldwide income on 1040. If you are a NOT 'US person', you first determine whether or not you're required to file 10...
- Sun Dec 24, 2023 10:52 am
- Forum: Canada / United States Tax & Accounting
- Topic: Dual Citizen Lives/Works in US - Any Tax Obligation When Visiting Canada?.
- Replies: 12
- Views: 14251
Re: Dual Citizen Lives/Works in US - Any Tax Obligation When Visiting Canada?.
LBB: Canada can deem someone with less than 183 days a Cdn tax resident and as well someone with 183 days should be a Cdn tax resident. Now, switching to someone who is clearly a non-resident of Canada, the 183 days generally isn't relevant. A nonresident of Canada pays tax on income received from s...
- Tue Dec 12, 2023 3:32 pm
- Forum: Canada / United States Tax & Accounting
- Topic: T3 /T5 reporting to IRS
- Replies: 2
- Views: 4730
Re: T3 /T5 reporting to IRS
unless Cdn co is a qualifying foreign company
https://www.law.cornell.edu/definitions ... :section:1
https://www.law.cornell.edu/definitions ... :section:1
- Tue Nov 14, 2023 2:00 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Arabic spam
- Replies: 0
- Views: 56391
Arabic spam
BTW, a quick Google translate shows that the Arabic spam that's all over these postings today translates to: Embark on your football betting journey with Football Betting https://yyy-blog.com/blog/footbal-betting/ This guide is the starting point for understanding the excitement and strategies of fo...
- Tue Nov 14, 2023 1:56 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Limitation of benefits form for RRSP
- Replies: 3
- Views: 4787
Re: Limitation of benefits form for RRSP
nelsona, I suspect it's not W-9. That form would be requesting certification of 'US person' status, in which case LOB is not an issue on say treaty w/h rates on int and div from US sources, as the US person would be filing 1040 and reporting that income at graduated rates. Rather, I suspect it's a f...
- Tue Nov 14, 2023 1:50 pm
- Forum: Canada / United States Tax & Accounting
- Topic: FATCA and FBAR reporting
- Replies: 5
- Views: 9217
Re: FATCA and FBAR reporting
It would seem that this particular BMO online account (vs a pure USA bank) may for FATCA purposes be considered a Cdn bank (and as reference Form W-8BEN-E definitions list many branch and variable institutions who are sucked into FATCA). It won't be linked to BMO's main banking data system and BMO i...
- Sun Oct 29, 2023 11:14 am
- Forum: Canada / United States Tax & Accounting
- Topic: 1099 for work performed in Canada
- Replies: 7
- Views: 6517
Re: 1099 for work performed in Canada
If you are a 'US person', as you describe in your facts, you'll need to report worldwide income on your 1040 but may claim foreign tax credit for taxes paid to Canada for Cdn source income, i.e., work physically performed in Canada. For contract work of the latter category, payer s/b issuing you a T...
- Fri Oct 13, 2023 9:53 am
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian Citizen moving to Michigan, plan to live in Windsor
- Replies: 7
- Views: 4727
Re: Canadian Citizen moving to Michigan, plan to live in Windsor
Did you (taxpayer) understand that "report ON LY your US sourced income (wages)' means days physically worked in USA, not 100% of the W-2 wages?
- Thu Sep 28, 2023 5:49 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RRSP/TFSA/RESP related filing requiremnts for Canadian citizens in USA
- Replies: 18
- Views: 5701
Re: RRSP/TFSA/RESP related filing requiremnts for Canadian citizens in USA
I think all DBinROC meant is that he mailed FBAR that included RRSP to U.S. Department of the Treasury, Post Office Box 32621, Detroit, Michigan 48232-0621 He's not saying his CPA did any income tax reporting as PFIC or on funds held and earned within RRSP. You keep commenting about those topics, bu...
- Wed Sep 27, 2023 8:21 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RRSP/TFSA/RESP related filing requiremnts for Canadian citizens in USA
- Replies: 18
- Views: 5701
Re: RRSP/TFSA/RESP related filing requiremnts for Canadian citizens in USA
I think all DBinROC meant is that he mailed FBAR that included RRSP to U.S. Department of the Treasury, Post Office Box 32621, Detroit, Michigan 48232-0621