Serbinski Accounting Firms

Are Canadian/US dual citizens not required to disclose US person status to their Canadian banks? And file FBARs (unless so poor they don't meet the $10K USD asset threshold). @Ron.Henderson your remarks seem very blithe about flouting US laws, also Canadian laws or regulations. I suppose for "a...

First time filing 8938 (and probably last, at least for a while, thanks to pandemic). It is quite clear that RRSPs and my spouse's DB pension plan have to be declared. My question is, are they "custodial" or "other"? Just from the questions that come up in TurboTax, I'm thinking ...

@rafa02 wrote on this thread: ... as a point of interest, TaxAct now includes an option to claim treaty benefits RE Social Benefits for a number of countries, including Canada. Hopefully other software companies will include this in the future, and even expand to include SE tax. I purchased TaxAct P...

On some older threads it was said that a dual Canadian and US citizen residing in Canada should report their CPP and SS income on their US 1040, but report it as nontaxable. I couldn't get TurboTax to make my husband's CPP nontaxable on our 1040 last year, so I gave up and just omitted it. I reporte...

TT doesn't reject it. It just assigns it taxable income because it's a joint return and presumably I make above the threshold. However unless i'm misunderstanding, CPP paid to a Canadian resident US citizen isn't supposed to be taxed by the US, period.

Re entering CPP on the 1040 SS line then putting taxable amount as zero, I cannot find a way to make TurboTax allow me to do that. Am tempted to just leave husband's CPP off our 1040 since it's not taxable anyway. How do others do this? Figure we can't be the only Canadian resident, US citizen recei...

Your answers always reveal the straightforward and logical path through the jungle of frustration. Thank-you.

Replying to boost this above the spam and because I have a similar question. 1. rallo (OP) is a US resident dual citizen wanting to know where to enter CPP and OAS on the 1040. 2. Spouse and I are Canadian resident dual citizens and he has CPP. Same question - where to put this on the 1040, first to...

You are right. Until recently dad did his own taxes and dealt with these periodic requests from CRA in an ad-hoc fashion. This year I got in touch with the NZ GSF and discovered I could order up an annual certificate. It runs from April to April and is in NZD but the accountant thought this was just...

Looking ahead a year or two, I have a question about US taxation of withdrawals from my (and spouse's) RRSPs. We started out as Canadian citizens, moved to US on a job transfer in 2002. Eventually became US citizens during our years in the US, but returned to Canada in 2016 and intend to remain. We ...

Have not yet taken any income from Roth so don't have an answer; will be interested to see any. Comment on foreign pensions: My father has a small government pension of about $20K per year derived from employment in our country of origin before we emigrated to Canada in the 1960s. This pension is qu...

I agree with Nelson's statement 'very likely her "39" quarter SS would be greater than her eventual "40+" SS because of WEP. But it will be FAR less if she has to pay medicare premium for both of them out of it.' So in my mind the question is, how likely are they to want to move ...

I downloaded the anypia program. It gives you exact figures for totalization scenarios. If you're comfortable with running a standalone Windows program, it's pretty easy to figure out and it just makes no sense (in my mind) to fiddle with other estimation tools. This is the straight goods from SSA. ...

My story is virtually identical to yours. Now back in Canada working for the Canadian subsidiary, I still have my RSUs and they continue to vest. But here's the difference. On mine, there is Canadian withholding at the BC top marginal rate, which is sad, but that's it. No US withholding whatsoever. ...

I've used OFX (formerly CanadianForex) and have been satisfied. My daughter, currently at grad school in Europe, uses TransferWise. I recently compared the two for some transaction I was considering, and was slightly surprised that OFX was actually a bit cheaper. I've heard Knightsbridge is OK too. ...