OTOH, I suppose since this is part of Medicare/FICA I can claim Foreign Tax credit on it?
Would probably work out in end as I end owning CCRA most years.
Search found 109 matches
- Wed Nov 13, 2013 5:22 pm
- Forum: Canada / United States Tax & Accounting
- Topic: ACA, USC/Canadian Dual citizen
- Replies: 9
- Views: 4435
- Wed Nov 13, 2013 5:20 pm
- Forum: Canada / United States Tax & Accounting
- Topic: ACA, USC/Canadian Dual citizen
- Replies: 9
- Views: 4435
Thanks. I have been filing MFS since my wife is Canadian (only ). The exemption level for the additional Medicare Tax is 250K for MFJ but only 125K for MFS ( 200K single ). My wife owns RESP for kid, has TFSAs, etc guess that means problems for her if I file MFJ? Understandably she wants nothing to ...
- Wed Nov 13, 2013 3:45 pm
- Forum: Canada / United States Tax & Accounting
- Topic: ACA, USC/Canadian Dual citizen
- Replies: 9
- Views: 4435
- Wed Nov 06, 2013 3:03 pm
- Forum: Canada / United States Tax & Accounting
- Topic: ACA, USC/Canadian Dual citizen
- Replies: 9
- Views: 4435
ACA, USC/Canadian Dual citizen
Dual Citizen Canadian resident commuting to work in US.
Covered by OHIP in Canada.
The ACA (Obamacare ) coverage mandate, are non residents exempted?
Is there a line of the 1040 to reflect this?
Covered by OHIP in Canada.
The ACA (Obamacare ) coverage mandate, are non residents exempted?
Is there a line of the 1040 to reflect this?
- Wed Sep 18, 2013 9:58 am
- Forum: Canada / United States Tax & Accounting
- Topic: 401K beneficiary - Canadian spouse?
- Replies: 3
- Views: 2308
- Wed Sep 18, 2013 6:54 am
- Forum: Canada / United States Tax & Accounting
- Topic: 401K beneficiary - Canadian spouse?
- Replies: 3
- Views: 2308
401K beneficiary - Canadian spouse?
USC resident in Canada commuting to work in USA. Wife is Canadian citizen ( only ) and Canadian resident. Currently is beneficiary of my employer 401(k). Should I die, I imagine tax would be withheld before she could inherit the funds? (Form 1042, and get an ITN? ) How is the tax calculated? Would i...
- Thu Jan 03, 2013 2:55 pm
- Forum: Canada / United States Tax & Accounting
- Topic: FATCA for USCs resident in Canada...
- Replies: 4
- Views: 3379
FATCA for USCs resident in Canada...
Canadian government is supposedly in final stages of negotiating agreement with US such that Canadian financial institutions will be required to collect US citizenship information on their customers, supply it to CCRA, who will supply it to IRS, in support of the FATCA act. Since we already have to ...
- Mon Oct 22, 2012 2:56 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 401K Contributions Deductible?
- Replies: 9
- Views: 9724
- Sun Oct 21, 2012 10:34 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 401K Contributions Deductible?
- Replies: 9
- Views: 9724
- Fri Oct 19, 2012 4:39 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 401K Contributions Deductible?
- Replies: 9
- Views: 9724
Form RC268
You are absolutely correct, lack of Form RC268 was the problem.
Didn't know I needed to file that.
Didn't know I needed to file that.
- Fri Oct 19, 2012 1:37 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 401K Contributions Deductible?
- Replies: 9
- Views: 9724
Correction on meaning of Box 12a Code D
This is my own contributions - deferred salary is the definition...payroll deduction pre-tax.
Surely should be covered by 5th Protcol?
Surely should be covered by 5th Protcol?
- Fri Oct 19, 2012 1:31 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 401K Contributions Deductible?
- Replies: 9
- Views: 9724
401K Contributions Deductible?
USC resident in Canada commuting to work in USA for US company. Received notice from CCRA that they want to include box 12A Code 1D of W2 as foreign employment income. I believe this is employer contribution to employer run 401K. I thought the 5th Protocol allowed these to be deductible, subject to ...
- Mon Aug 06, 2012 11:31 am
- Forum: Canada / United States Tax & Accounting
- Topic: Spousal RRSP Contribution for CDN Res/Commuter to US Work?
- Replies: 1
- Views: 2120
Spousal RRSP Contribution for CDN Res/Commuter to US Work?
Dual USC/Canadian, Canadian Resident, spouse Canadian, commuting to work in US. After credit for US Federal / State / FICA / OASI I usually still owe a small amount to CCRA. I contribute to, and deduct, contributions employer sponsored 401K plan. I've been thinking I could negate the small amount I ...
- Mon Jan 30, 2012 1:25 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Closed TFSA in 2011, IRS paperwork beyond 3520?
- Replies: 7
- Views: 4957
- Mon Jan 30, 2012 12:29 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Closed TFSA in 2011, IRS paperwork beyond 3520?
- Replies: 7
- Views: 4957
Closed TFSA in 2011, IRS paperwork beyond 3520?
Dual citizen resident in Canada.
Closed TFSA in 2011.
Plan to file 3520 and report interest to date of closure on 2011 taxes.
Anything else I need to file to report the "trust" is terminated?
Closed TFSA in 2011.
Plan to file 3520 and report interest to date of closure on 2011 taxes.
Anything else I need to file to report the "trust" is terminated?