Serbinski Accounting Firms

First for US taxes. If you marry before the end of the year, then YOU will have to file married, not single. Since you would generally pay maore taxes married filing separately than married filing jointly, it would be better (but more complicated) to file married jointly, reporting ALL his 2006 inco...

is it also possible to carryforward/back unused "Non-business" foreign tax credits?

No. For personal income, the foreign credit is curent year only.

Whatever you can do to lower your PA is advisable. The match is a wash, in my opinion, butr since you already have set up this 401(k), you will have to dela with the complexity anyways, you might as well get some money from the firm.

In canada Stock losses (capital losses) can only be used against capital gains, so your other income from this year is irrelevant. In US you can write off $3000 of your losses against income every year. You could be denied this if it is veiwed by IRS that you sold after becoming non-resident, but th...

It is possible to work on Tn and be paid on 1099 basis. See any TN lawyer site like grasmick.com


By purely, I mean that you do noyt look like anemployeee, in theeyes ofeither CRA or IRS.

I would not assume that it is taxable on 1040. There never has been a principle that if something is taxable in one country it must in the other. Gambling winnings springs to mind.

If it doesn't meet any definition of income on the 1040, it is not reported.

Any tax credit is based on ACTUAL tax OWED, not what was withheld during the year. You will determine any credits based on what you calculate on your tax return. Any tax you paid will be divided based on the income (as reported on your Cdn return) that went toward it. so if you reporteed $50,000 ain...

Your notion that your husbands rebtal income, transferred to you, smehow greyed a tax break for you is false, of course. On the matter of yout PA due to 401(k), they are handling it correctly, and is another reason to NOT contribute to 401(k) when living in canada. Its not merely your contributing t...

Geez, where to start... I think your major problem has been filing a 1040NR. Even if neither of you have been living in the US, you should have been filing a joint 1040. You are allowed to by virtue of being cdn (and also by virtue of having spent enough actual days in US every year). This would hav...

Getting such a number will not in itself make you taxable in US.

The traty Article XIX covers you, in that because you are a Cdn citizen, regardless of what other reason or status you would have to be in the US, including US citizenship or a Green card, the income is exempt from IRS tax. As to stae, you would need to check locally. Since there are likely 100's of...

No. The nortel stock was subject to deemed disposition when they left, and that was it for Canada, gain or loss. any further loss, when triggered, will be on their US return.

Both the husky and nortel sales wold be reported in US of course.

Obviously, the source is the CRA website. Use the "emigrant" guide to determine what shouldhave been reported. you will file a T1-ADJ

I did tell you a while back that your moving expenses would not be deductible, did I not?

I am however surprised that they 'let go' of you so easily however.

oh well, your tax life will be much easier for future years.

don't forget that your moving expenses ARE deductible in US if you file a 1040.

Seems quite logical to remove your US income from after yourmove. Generaly, CRA will nevr grant moving expenses due to leaving Canada, regardles of residency status. Trouble is, that students are not usually considered non-residents of Canada, because theUS does not consider them US tax residents ei...