If self-employed, you get no benefits (pension, medical, etc), so your personal situation matters here.
If you are self-employed, you should expect MUCH larger payment, as you will have expenses (deductible) and have to pay both ends of CPP.
<i>nelsona non grata</i>
Search found 18318 matches
- Sat Nov 27, 2004 12:08 am
- Forum: Canada / United States Tax & Accounting
- Topic: Cdn Citizen working for US Company within Canada
- Replies: 7
- Views: 10240
- Fri Nov 26, 2004 4:22 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Cdn Citizen working for US Company within Canada
- Replies: 7
- Views: 10240
Your employer MUST set up a payroll for you as an employee, paying EI and CPP (their portion) and remitting Cdn and prov taxes withheld from you. This is their reponsibilty as an employer of a Cdn worker. 1000's of Cdns work this way. Their (and your) other option is for you to bcome self-employed, ...
- Thu Nov 25, 2004 3:23 pm
- Forum: Canada / United States Tax & Accounting
- Topic: CRA confirms that US Social Security Taxes are tax
- Replies: 1
- Views: 5417
- Thu Nov 25, 2004 3:14 pm
- Forum: Canada / United States Tax & Accounting
- Topic: CRA confirms that US Social Security Taxes are tax
- Replies: 1
- Views: 5417
CRA confirms that US Social Security Taxes are tax
From time to time CRA wavers on their treatment of Social Security taxes, as to whether these are usable towards the foreign tax credit calculation on the Cdn tax return (for Cdn residents paying US soc Sec taxes, or FICA). In a recent Technical Release, they have clarifid that while, in general Soc...
- Wed Nov 24, 2004 6:26 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Offshore Immigrant Trust
- Replies: 3
- Views: 7102
- Tue Nov 23, 2004 10:51 am
- Forum: Canada / United States Tax & Accounting
- Topic: Kids' Assets and Attribution Rules
- Replies: 3
- Views: 6665
No one, including children, has to report their assets when immigrating to Canada. Even if the money came directly from you, before you lived in Canada, the income generated would not be attributed to you. Any income they earn will be solely in their name, unless you the parents give them funds afte...
- Sun Nov 21, 2004 12:29 am
- Forum: Canada / United States Tax & Accounting
- Topic: 401k Rollover to Self-Directed IRA
- Replies: 2
- Views: 6003
Whan leaving US, it is very important that one ESTABLISH their IRA/401(k) account <b>while STILL LIVING IN US</b>. After that, most US firms will continue to deal with you (and Cdn regulators allow it -- SEC does NOT prohibit this). The problem is getting such an account started AFTER leaving is dif...
- Sun Nov 21, 2004 12:23 am
- Forum: Canada / United States Tax & Accounting
- Topic: Moving Back to Canada and Stock Options
- Replies: 6
- Views: 9948
- Wed Nov 17, 2004 8:50 am
- Forum: Canada / United States Tax & Accounting
- Topic: investment in america!
- Replies: 2
- Views: 4301
It is not entirely clear wether SEC regs would be violated in this case. However CANADIAN regulatory rules would indeed be violated, since the broker would be accepting by a Cdn resident (specifically a resident a particular province) without THE BROKER having provincial regulatory approval. This is...
- Tue Nov 16, 2004 8:35 pm
- Forum: Canada / United States Tax & Accounting
- Topic: EI Benefits in canada
- Replies: 2
- Views: 6038
Yes you will get EI (or WA UI) based on your WA work.
You will contact HRDC in Canada and they will direct you exactly how you will proceed.
See more info at:
http://www.hrsdc.gc.ca/asp/gateway.asp? ... tml&hs=aed
<i>nelsona non grata</i>
You will contact HRDC in Canada and they will direct you exactly how you will proceed.
See more info at:
http://www.hrsdc.gc.ca/asp/gateway.asp? ... tml&hs=aed
<i>nelsona non grata</i>
- Tue Nov 16, 2004 8:25 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Unemployment tax for US citizen,CDN resident/workr
- Replies: 1
- Views: 5151
Your residence and work location in Canada, regardless of your US citizenship, means that, as an employee, you and your firm should be paying/withholding tax as a Cdn employee (Fed/Prov tax, EI, CPP). The only way this would not be the case is if you are one temporary assignment in Canada, and then ...
- Wed Nov 10, 2004 2:15 am
- Forum: Canada / United States Tax & Accounting
- Topic: Moving a larger IRA to RRSP
- Replies: 13
- Views: 32605
Sure. But seriously, you are over-thinking this issue. There is only a very narrow income range in which your US tax (including the 10% early withdrawal tax) would be more than your Cdn taxrate. Anything more than $12-15K Cdn will be taxed more in Canada than in US. So, in your convoluted scenarios ...
- Sun Nov 07, 2004 8:15 am
- Forum: Canada / United States Tax & Accounting
- Topic: Please read/post about RRSP in US Here!!!
- Replies: 59
- Views: 60961
Any non-resident is allowed to withdraw moneys from there RRSP/RRIF and pay 'normal' Cdn tax instead of 25% flat tax. It is called a 217 election and is described in detail on CRA website. To do so however, one must report WORLD income and pay equivalent tax on that, so a person earning much more th...
- Sun Nov 07, 2004 8:00 am
- Forum: Canada / United States Tax & Accounting
- Topic: W4 and TD
- Replies: 2
- Views: 5951
Filling your W-4 is merely to determine how much taxyour company withholds, and is NOT what you will finally pay in tax. You are married, so you can put married if you wish. Putting single will mean more tax is withheld, wich will mean that you will either owe less in April or get a bigger tax refun...
- Sat Oct 30, 2004 9:51 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Car Talk Here - DMV import/export etc!!!!
- Replies: 18
- Views: 20832
Unfortunately, the GA DMV person. while nice -- is wrong. SSA has categorically stated that they will not give SSN for DL for ANY state. There are now several states in which TD/H4 spouses are facing this problem. NJ is one. You must go back to DMV and say that SSA will not grant SSN. Go to SSA webs...