Search found 18293 matches

by nelsona
Thu Apr 26, 2007 3:21 pm
Forum: Canada / United States Tax & Accounting
Topic: Income Tax Question for TN visa holders
Replies: 33
Views: 16041

2555 excludes your Cdn wages from IRS taxation.
by nelsona
Thu Apr 26, 2007 2:41 pm
Forum: Canada / United States Tax & Accounting
Topic: Income Tax Question for TN visa holders
Replies: 33
Views: 16041

In fact, for most provinces, as soon as you move, you are no longer considered a resident for helthcare purposes.
by nelsona
Thu Apr 26, 2007 2:41 pm
Forum: Canada / United States Tax & Accounting
Topic: Income Tax Question for TN visa holders
Replies: 33
Views: 16041

It does not matter whether you claim residency or not; once you leave canada for 6 months (7 for ontario) you are no longer covered by Cdn healthcare. But that is why you have coverage with your job. Anyways, the advice you got from whomever you spoke to was wrong 9not surprising). I hope it did not...
by nelsona
Thu Apr 26, 2007 10:53 am
Forum: Canada / United States Tax & Accounting
Topic: Income Tax Question for TN visa holders
Replies: 33
Views: 16041

I would ammend my 1040 to include all my Cdn income, and then exclude my wages by 2555. Your other choice is to identify yourself as dual status, remove the standard deduction, and itemize, but this will lead to more US tax. You should have been looking into this more closely months ago, BEFORE fili...
by nelsona
Thu Apr 26, 2007 9:26 am
Forum: Canada / United States Tax & Accounting
Topic: IRS accept Canadain donations
Replies: 6
Views: 3613

Traety Article XXI(5): For the purposes of United States taxation, contributions by a citizen or resident of the United States to an organization which is resident in Canada, which is generally exempt from Canadian tax and which could qualify in the United States to receive deductible contributions ...
by nelsona
Thu Apr 26, 2007 9:20 am
Forum: Canada / United States Tax & Accounting
Topic: IRS accept Canadain donations
Replies: 6
Views: 3613

Yes. Generally donations upto 50% of the Cdn income reported can be deducted, in the year that they are made. Donations to Colleges which you or family have attended can be deducted regardless of Cdn income reported.

Such donations could impact foreign tax credit calculations.
by nelsona
Thu Apr 26, 2007 8:44 am
Forum: Canada / United States Tax & Accounting
Topic: Maintaining a Canadian residency as a requirement for TN
Replies: 6
Views: 4909

... and those scum that are asking for ties are doing so -- not only on TN renewals -- but on regular re-entries on existing TNs.
by nelsona
Thu Apr 26, 2007 8:13 am
Forum: Canada / United States Tax & Accounting
Topic: Income Tax Question for TN visa holders
Replies: 33
Views: 16041

Note that if using the 2555 method, you can only exclude wages, not any other Cdn income. Also, you cannot then take credit for Cdn taxes paid on your wages. You would get credit for taxes paid on other Cdn income you reported on your 1040 (cap gains, rent, etc). Don't forget, that as a departing Cd...
by nelsona
Thu Apr 26, 2007 8:09 am
Forum: Canada / United States Tax & Accounting
Topic: Income Tax Question for TN visa holders
Replies: 33
Views: 16041

That is correct. most people who move to US mid-year, report all income, but then EXCLUDE the Cdn wages by Form 2555. I have described this elsewhere. You could have filed a "part-year" 1040 (which is in effect what you did), but on this you would not be allowed to take the standard deduct...
by nelsona
Thu Apr 26, 2007 6:30 am
Forum: Canada / United States Tax & Accounting
Topic: Income Tax Question for TN visa holders
Replies: 33
Views: 16041

All your tax returns were filed incorrectly. If you left canada, you should have filed your returns with a departure date, leaving in june. This makes your US income non-reportable. Look at the "Emigrnats Guide" from CRA on how to file. In US, if you filed a 1040, this means reporting all ...
by nelsona
Wed Apr 25, 2007 1:37 pm
Forum: Canada / United States Tax & Accounting
Topic: Maintaining a Canadian residency as a requirement for TN
Replies: 6
Views: 4909

By the way, when the border a55holes are talking ties, they are referring to HOME, utilities, phone, etc, not bank and RRSP.

That is the statndard for admission on tourist status, which is not the same as for TN or TD.
by nelsona
Wed Apr 25, 2007 1:35 pm
Forum: Canada / United States Tax & Accounting
Topic: Maintaining a Canadian residency as a requirement for TN
Replies: 6
Views: 4909

If you have a TN, and your spouse has a TD, then she is perfectly entiltled to 'squat' wherever she wishes.

And there is absolutely no requirement to maintain ANY ties in canada while on TN.
by nelsona
Wed Apr 25, 2007 1:33 pm
Forum: Canada / United States Tax & Accounting
Topic: TN: Significant Other following me 3 months later.
Replies: 8
Views: 6965

you meant to say:

"[...] it _does_ mean that you could be force to report your income in both countries [...]"


Yeah, that's correct.
by nelsona
Wed Apr 25, 2007 1:32 pm
Forum: Canada / United States Tax & Accounting
Topic: Income Tax Question for TN visa holders
Replies: 33
Views: 16041

If you live in Canada, then you have reported your in come correctly to canada. You are supposed to get credit on your Cdn rteturn for taxes owed in US. Not with a form but on your return. For US, you should be filing a 1040NR. If you filed anything else, and did not include all your Cdn income,. yo...
by nelsona
Tue Apr 24, 2007 7:14 pm
Forum: Business & Personal Immigration to the United States
Topic: Canadian wanting information on moving to the USA
Replies: 6
Views: 6557

Did I mention contacting a US immigration lawyer?

I think so....