Search found 97 matches

by okinawafl
Sat Jan 08, 2022 12:15 pm
Forum: Canada / United States Tax & Accounting
Topic: U.U.S. tax - Receive prior year self-employed income in 2022
Replies: 3
Views: 1048

U.U.S. tax - Receive prior year self-employed income in 2022

Sorry I wasn't sure if I posted my question last night successfully so just repost it now. I left from Canada to U.S. in Sept 2021 for a job under TN visa. But before I left Canada, I had a freelance that I issued invoices from May - Aug 2021. I stop doing any more freelance then. but unfortunately,...
by okinawafl
Fri Jan 07, 2022 10:25 pm
Forum: Canada / United States Tax & Accounting
Topic: Receive prior year self-employed income in 2022
Replies: 12
Views: 2764

Receive prior year self-employed income in 2022

May I get some help. Have few questions: I left Canada to U.S. in Sept 2021 for a job under TN visa. I didn't pass the SPT in 2021 but I will pass SPT this year for sure. Before I left Canada, I have a self-employed income just from "May - Aug 2021" but two of my last invoices "dated ...
by okinawafl
Thu Dec 30, 2021 11:25 pm
Forum: Canada / United States Tax & Accounting
Topic: RRSP and bank accounts reporting requirement in the U.S. return
Replies: 6
Views: 1676

Re: RRSP and bank accounts reporting requirement in the U.S. return

Thanks nelsona. I will check with the bank tomorrow asap.

Happy New Year....
by okinawafl
Thu Dec 30, 2021 8:12 pm
Forum: Canada / United States Tax & Accounting
Topic: RRSP and bank accounts reporting requirement in the U.S. return
Replies: 6
Views: 1676

Re: RRSP and bank accounts reporting requirement in the U.S. return

Thanks nelsona mentioned the cad address. I total miss it, can I keep the mailing address of my banking documents in Canada so my parent can receive any mail for me just in case? To be accepted by CRA as an Emigrant from Canada, do I have to request the bank to mark Non-resident in my RRSP accounts,...
by okinawafl
Thu Dec 30, 2021 12:42 pm
Forum: Canada / United States Tax & Accounting
Topic: RRSP and bank accounts reporting requirement in the U.S. return
Replies: 6
Views: 1676

Re: RRSP and bank accounts reporting requirement in the U.S. return

Thanks nelsona. I have around 8k 401k contribution this year. As a emigrant from Sept this year, can I still contribute to RRSP for my 26k 2021 available contribution room before March next year? So I can use it to deduct my 2021 Canada self employed income earned before I left Canada, and leave the...
by okinawafl
Thu Dec 30, 2021 1:38 am
Forum: Canada / United States Tax & Accounting
Topic: RRSP and bank accounts reporting requirement in the U.S. return
Replies: 6
Views: 1676

RRSP and bank accounts reporting requirement in the U.S. return

I just notice that I have a Canada bank account with highest balance of over 50k in 2021 and I also have RRSP around 26k. Do I still only need to report on FBAR or there is other reporting requirements for federal ?

Thanks.
by okinawafl
Tue Dec 28, 2021 6:25 pm
Forum: Canada / United States Tax & Accounting
Topic: Gift Tax
Replies: 8
Views: 2128

Re: Gift Tax

"If it is a repayment it is not a gift. There would need to be documentation between you and your mother." Hi nelsona, as for documentation, would an excel spread sheet showing breakdown (date and amount) of tuitions and living expense my mom paid for me in the past few years and the OSAP ...
by okinawafl
Thu Dec 23, 2021 11:04 am
Forum: Canada / United States Tax & Accounting
Topic: Gift Tax
Replies: 8
Views: 2128

Re: Gift Tax

Thanks nelsona
by okinawafl
Thu Dec 23, 2021 7:59 am
Forum: Canada / United States Tax & Accounting
Topic: Gift Tax
Replies: 8
Views: 2128

Re: Gift Tax

Sorry I mean would "IRS" still treat this as replayment (instead of gift) if I also need to repay my mom next year when I am a tax resident (passed SPT in 2022) ?

thanks again
by okinawafl
Wed Dec 22, 2021 11:07 pm
Forum: Canada / United States Tax & Accounting
Topic: Gift Tax
Replies: 8
Views: 2128

Re: Gift Tax

Sorry I mean would CRA still treat this as Gift? or it can be treated as repayment (not gift)?
thanks again
by okinawafl
Wed Dec 22, 2021 9:26 pm
Forum: Canada / United States Tax & Accounting
Topic: Gift Tax
Replies: 8
Views: 2128

Re: Gift Tax

Hi nelsona

the money is in fact repayment to mom as she paid all my tuitions in the past years and she paid off my OSAP this year (almost another 30k) Would IRS accept this reason?
by okinawafl
Tue Dec 21, 2021 10:21 pm
Forum: Canada / United States Tax & Accounting
Topic: Gift Tax
Replies: 8
Views: 2128

Gift Tax

hi nelsona, I arrived U.S. mid-Sept this year with TN visa. Expected work in U.S. several years. I am not married, and don't have significant ties with Canada. As you mentioned before that I should file as NR of Canada (departure mid-Sept), and file 1040 as U.S. resident (full year) if I understand ...
by okinawafl
Thu Dec 09, 2021 8:11 am
Forum: Canada / United States Tax & Accounting
Topic: T1135 in the year becoming NR
Replies: 2
Views: 948

Re: T1135 in the year becoming NR

Thanks nelsona.
by okinawafl
Mon Dec 06, 2021 11:10 pm
Forum: Canada / United States Tax & Accounting
Topic: T1135 in the year becoming NR
Replies: 2
Views: 948

T1135 in the year becoming NR

May I know if I need to file T1135 for this year when I file my 'departure tax return" for 2021. Is it based on the foreign asset I have before Sept when I still a resident of Canada (which is under cad 100k) or based on any month in 2021 (in Dec, I might just over cad 100k)? Also, may I know w...
by okinawafl
Tue Aug 24, 2021 8:07 am
Forum: Canada / United States Tax & Accounting
Topic: Revenue Canada Not accepting my Foreign Tax Claim
Replies: 22
Views: 15609

Re: Revenue Canada Not accepting my Foreign Tax Claim

Just an update. After I applied online at https://www.irs.gov/individuals/get-transcript I have received the transcripts from IRS by mail (to Canada). The actual refund amt from IRS is more than the refund amt in 1040NR tax return, and the transcript show that it is interest credit by IRS. Not sure ...