Serbinski Accounting Firms

You are maintaining strong US ties and spending less than 6 month in Canada - no you would not owe Canadian taxes.

I did some more digging, and I think the best option is to file as married jointly and file her worldwide income with IRS. However, since she is already taxed in Canada, can we use the US-Canada treaty and FTCs so effectively she pays nothing in US?

Thanks Nelsona. To spell things out a bit more clearly: -We would be living in the US (and renting) for about 6 months (I would stay enough to satisfy SPT, she would stay under 183 days, and would claim Closer Connection to Canada if necessary) -I would sever ties with Canada -She would maintain all...

Why is she having to file in US (or a joint return) if she's a tax resident of Canada?

Hi there, my partner and I are considering a scenario in which we would split our tax residency (me in US, her in Canada). We would both live together in US and Canada and ensure we individually meet either SBT or Closer Connection requirements. The main reason for this is that her work would likely...

MIKE2000Z28 wrote: > Well I filed my taxes electronically for the first time with Taxact. > Return was accepted and I could check on my refund which they said was > mailed out on April 28th. After that date if I go to check the status it > says information does not match. It is one month later with ...

Anyone else have experience with this process and what CRA asks for in terms of "adequate security"?
Has anyone also indicated shares in a CCPC as part of deemed disposition? Can payable cap gains tax be deferred as well by putting up 'adequate security'?

FWIW, I have a Cdn address registered with IRS

My wife and I are moving to the US. I will be on a TN Visa. We are not yet sure if my wife will be on TD, or if she will get her own TN. If is it the former, is it required or in any way preferred if my wife is applying for the Visa at the same time I am? Also, does the tax departure date from Canad...

Hey everyone, does anyone know if you have to file IRS taxes (1040NR) for transactions based on a US crypto exchange for ex. Gemini. I already file 1040NR's annually because I own a rental property in the US, and wondering if I add the Gemini tx's. I'm already filing CRA taxes to incl the Gemini tx's.

For anyone else that's looking into this, CCA simply starts in the year of immigration (class 1, 3, etc) at the deemed acquisition value at point of immigration on the value of building only (not land). Half year rule applies in that year, regardless of when during the year immigration happened.

Hi nelsona, does the CCA "start" in that year, when I returned to Canada? Assuming half-year rule applies?

..or do I use FMV at time of entry as ACB for purposes of CCA, and then use half-year rule at that point (and still pro-rate for # of days in Canada in entry year)?

Hi there, hoping to get some help on CCA reporting for foreign property. US rental property was acquired in 2017 but return to Canada was not until 2019. Does CCA 'start' in 2019? Is it prorated for actual date of entry in 2019? Does half-year rule apply in any way? Thanks in advance!

Thanks for the quick response Nelsona. I found the verbiage here, granted it does say "can" not "must" https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4058/non-residents-income-tax.html#have_to_file_a_return Under Section "Do you have to fil...