Search found 18244 matches

by nelsona
Sat Feb 03, 2007 11:45 am
Forum: Canada / United States Tax & Accounting
Topic: US Citizen, filing as "deemed resident"
Replies: 24
Views: 12085

I wouldn't necessarily believe what CRA tells you, they ar only slightly less moronic that IRS agents.

But, as I said, it is very difficult to claim someone as a dependant in Canada, much more so when they are not living with you.
by nelsona
Sat Feb 03, 2007 11:35 am
Forum: Canada / United States Tax & Accounting
Topic: Temporary Move to the US
Replies: 4
Views: 2810

W ties, you may have difficuly crossing the border, but I'll leave that with you. That is an immigration matter. I would not be going for Cdn tax non-residency, as you will be able to take advantage of OETC, which will lower your Cdn tax bill. You should not have to pay for SS andmedicare (especiall...
by nelsona
Fri Feb 02, 2007 7:43 pm
Forum: Canada / United States Tax & Accounting
Topic: Temporary Move to the US
Replies: 4
Views: 2810

Your tax strategy would depend to some extent on your immigrstion status.

Will you be a TN of simply a B1?

A B1 must keep a residence in Canada. This is not abig problem, as this will allow you to clim the OETC, and exclude yourself from any FICA tax.
by nelsona
Fri Feb 02, 2007 7:40 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian TN commuting to US - how to file next year?
Replies: 112
Views: 62778

The advantage of 2 1040NRs over 1040 MJF is that in years when you have capital gains, you could find yourself paying US tax on those gains. There are other reasons as well (8891, etc).
by nelsona
Fri Feb 02, 2007 7:38 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian TN commuting to US - how to file next year?
Replies: 112
Views: 62778

It applies, except in very specific cases to both citizens and residents
by nelsona
Fri Feb 02, 2007 7:36 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian TN commuting to US - how to file next year?
Replies: 112
Views: 62778

You would need to fill out a complete 1040NR, and the override the tax with the RATE calculated in you pro forma.
by nelsona
Fri Feb 02, 2007 7:23 pm
Forum: Canada / United States Tax & Accounting
Topic: Forein Income Tax Credit in Canada
Replies: 7
Views: 5751

Sorry, you DO have the same situation (almaost). Hoom *could* try to have himself declared Deemed non-resident, in which case he could get his US income exempt from Cdn taxation. Hwe is not eligible foe OETC, since his employer is not Cdn. Buut, in my opinion, he is still resident in Canada because ...
by nelsona
Fri Feb 02, 2007 7:17 pm
Forum: Canada / United States Tax & Accounting
Topic: Forein Income Tax Credit in Canada
Replies: 7
Views: 5751

Be careful telly: you and he do NOT have the same situation, as he has LEFT Canada. He should not be reporting any US income from after departure, and should be filing a departure return.

You are still resident.
by nelsona
Fri Feb 02, 2007 7:15 pm
Forum: Canada / United States Tax & Accounting
Topic: Forein Income Tax Credit in Canada
Replies: 7
Views: 5751

You are filing incorrectly:

You have LEFT Canada, thus you do not report any US incomecfrom after your departure.

Ant US income you do report (from before the move) if any, is NOT treaty exempt.

Get out the emigrants guide before you get in over your head,
by nelsona
Fri Feb 02, 2007 7:11 pm
Forum: Canada / United States Tax & Accounting
Topic: US Citizen, filing as "deemed resident"
Replies: 24
Views: 12085

That is what I'm asking you: does your brother meet all the criteria under CDN tax law. IRS rules are much more lax on dependants (most Cdn couples can't even claim their OWN kids). If he does, except for the fact that he is in US, then you are allowed to claim him.

Look over the guide.
by nelsona
Fri Feb 02, 2007 7:43 am
Forum: Canada / United States Tax & Accounting
Topic: US Citizen, filing as "deemed resident"
Replies: 24
Views: 12085

First off, you will be filing as a RESIDENT of Canada, not deemed resident. You should file areturn for the province in which you reside, ratger than the deemed resident one. Did you check if your brother meets the criteria for dependant? If he does, then the fact that he is US citizen would not dis...
by nelsona
Thu Feb 01, 2007 11:02 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian TN commuting to US - how to file next year?
Replies: 112
Views: 62778

Telly, as I said from the outset, Cdns are not bound by the non-resident rules, sincethe treaty allows them to file exactly like an american would. forget commuting days, forget SPT: you are CDn.
by nelsona
Thu Feb 01, 2007 11:00 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian TN commuting to US - how to file next year?
Replies: 112
Views: 62778

The IRS website has the answers for this; you may need expenses backed up by their SSN, which may not be possible for Cdn caregivers
by nelsona
Thu Feb 01, 2007 5:07 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian TN commuting to US - how to file next year?
Replies: 112
Views: 62778

You would need to check with the individual schools. They will know whether or not the schhool is on the "US-eligible" list, as they will have been informing and assisting their US-born students to get these credits.

Ask about US FSA-eligibility. They should know right away.
by nelsona
Thu Feb 01, 2007 3:14 pm
Forum: Canada / United States Tax & Accounting
Topic: Canadian TN commuting to US - how to file next year?
Replies: 112
Views: 62778

By the strict rules of the child tax credit, if your children are not living in US, your children are supposed to be US citizens or GC-holders (and have an SSN), but several have applied for the credit and received it, even though their child was NOT a citizen, and was living in Canada. The citizens...