Search found 18241 matches
- Tue Apr 10, 2007 8:05 am
- Forum: Canada / United States Tax & Accounting
- Topic: US/Canada Self Employed Cross Border Tax Situation
- Replies: 6
- Views: 4057
The 183 day rule does not enter into the picture, because, as you said at the outset: You moved to canada. You work IN canada. You are not merely visiting Canada for an extended period. So you became a Cdn resident on some date in 2006, and you report your world income to canada after that date. Bes...
- Tue Apr 10, 2007 7:55 am
- Forum: Canada / United States Tax & Accounting
- Topic: basis of property for capital gain if change in use
- Replies: 11
- Views: 6405
Are we talking US tax or Cdn tax? In canada, the cost basis for cap gains will be based either on market value the day you left, or a formula of total growth divided by the years it was your residence. CCA will be added to that calculation. There is no change of use fro non-residents. In US, for cap...
- Tue Apr 10, 2007 7:49 am
- Forum: Canada / United States Tax & Accounting
- Topic: Where to enter Canadian income on Form 1040?
- Replies: 5
- Views: 4459
- Tue Apr 10, 2007 7:44 am
- Forum: Canada / United States Tax & Accounting
- Topic: 1040 effective tax rate
- Replies: 16
- Views: 11782
- Mon Apr 09, 2007 10:51 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 1040 effective tax rate
- Replies: 16
- Views: 11782
- Mon Apr 09, 2007 10:45 pm
- Forum: Business & Personal Immigration to Canada
- Topic: US Citizen married to CAN wants to emigrate
- Replies: 6
- Views: 10975
So...you're saying I have to QUALIFY to move to Canada? OF COURSE. Do you think that all Cdn citizens marry perfect little angels?! What if you were a convicted meth dealer, or a kiddie porn peddler. Do you think that Canad would just let you in because you managed to get your hooks on a Cdn citizen...
- Mon Apr 09, 2007 10:15 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US/Canada Self Employed Cross Border Tax Situation
- Replies: 6
- Views: 4057
Line 256 is for -- among many other things -- income that is not taxable in Canad by treaty. None of the income you have is not taxable in Canada by treaty. I'm sure you will find that many of the lines in the tax form don't apply to you, but they leave them there for others ;0). So, in Canada, one ...
- Mon Apr 09, 2007 9:54 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 1040 effective tax rate
- Replies: 16
- Views: 11782
You only change one line on your 1040NR: line 58. You do this by LINING out the normal ammount, and indicatingb the revised ammount below it. You don't change any of the other entries. As I explained in the other thread about this process (just because I told you not to jump on that thread doesn't m...
- Mon Apr 09, 2007 7:16 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US/Canada Self Employed Cross Border Tax Situation
- Replies: 6
- Views: 4057
Since you are sef-employed and living in Canada, the income is taxable in Canada As a resident, you are not entitled to exclude anything on 256: you owe taxes in Canada on world income from the date you moved. See the Newcomers guide from CRA; this is your primary guide for 2006. By a quirk in the t...
- Mon Apr 09, 2007 7:11 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Wrong/missing details in 1040NR filing,T1 filing joint anw?
- Replies: 3
- Views: 2457
- Mon Apr 09, 2007 7:10 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Hiatus for last-minute tax-filers
- Replies: 2
- Views: 2308
- Mon Apr 09, 2007 7:01 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Dual residence for married couple?
- Replies: 6
- Views: 3967
To clarify most -- if not all -- of what allen has said: Your husband should file a normal 1040, declaring ALL world income for 2006. He should also declare all your world income. The Cdn WAGES either of you made should be excluded by using form 2555, but it must be reported. This is a joint return....
- Mon Apr 09, 2007 6:52 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Where to enter Canadian income on Form 1040?
- Replies: 5
- Views: 4459
Your investment income idea (passive) not help in using up RRSP NR tax (gen limit) since it will not be coming from the same category of income (Keats is wrong on this one). And, only interest and dividends are considered foreign source in any event. You could consider rental income. The IRS is comp...
- Mon Apr 09, 2007 4:36 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Rev. Proc 2002-23, rsp dist. - Clarification and help
- Replies: 4
- Views: 3211
There is nothing in your 1040 for 2005 and 2005 to ammend. merely send in 8891s for those years attached to a 1040-X with no other changes. Indicate on those and any future 8891s that you fist made the election in 2004. PWC is obviously trying to 'pad' their account by sending in lots of paperwork. ...
- Mon Apr 09, 2007 4:15 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How to apply 1116 for vested stock option
- Replies: 6
- Views: 3613