Nee Help TN Taxes

march · Post by **march** » Thu Jun 16, 2011 7:10 pm

Hi,
this place is really informative, I need clarity in my situation:
here is my situation
1. I am Canadian citizen, got an offer in US, I shall be working on TN Visa,
2. I do not have a house here or any family in Canada,
3. I have my bank accounts with savings acct, TFSA and RRSP's, I am planning to leave this accounts with all my savings in canada bank, will this create a problem when I file my taxes.
4. I worked till june this year in canada and remaining in US, so how do I file my tax
5. how do I file my taxes in the future, will I have o file taxes twice since I hold bank accounts in canada or how does this work, how do I file my taxes under what category.
6. I am married recently and waiting for her to come to canada as paperwork is in process.
7. Is it ok for me to take TN and get back to canada to get her TD visa when she gets to Canada, will this create any problem
8. I would like to know any important things to make sure before leaving Canada, for taxes and other stuff
9. is my wife allowed to take immediate TD visa after entering the canada or is there any time requriement.

Thanks much for your help
V

nelsona · Post by **nelsona** » Thu Jun 16, 2011 9:03 pm

You should close your TFSA, since it will be taxable in US.

march · Post by **march** » Thu Jun 16, 2011 10:40 pm

thank you, so i need to close TFSA as it is taxable in US,
How about my other savings, RRSP, what do i need to do to them..can i still leave them in canada, or i need to close them,
if i need to transfer all the big amount to US bank will there be a charge or is there a limit.. will I loose by transferring money to US..
please advise

nelsona · Post by **nelsona** » Thu Jun 16, 2011 10:54 pm

You don't really need to do anything else. No need to close any other account.

The rest of the questions are well-documented on this forum. Happy browsing.

march · Post by **march** » Fri Jun 17, 2011 7:24 am

thank you,
I tried to reserach the site everyone case is different, in my case as I mentioned when I leave to US on TN this august, how do I file taxes next year, i read 183 day limit, which I dont think I satisfy then what should I do and what will be the procedure from next year, can you please tell me which category I fall and what file numbers to follow when taxing .
Also as you mentioned if I do not need to close my current canadian savings, RRSP'S, how do I account the interest from this accounts, is it good transferrring to US or leave in CAD, since I have all my saving these years. will this say 65-70k of savings will taxed high, can you please advise what is best option without paying much taxes and loosing on conversion.

can you please advise
thanks much

nelsona · Post by **nelsona** » Fri Jun 17, 2011 8:22 am

I don't think you have browsed sufficently. Your case is nothing unusual.
Leave youtr RRSP in canada, and put with a broker that will allow you to deal while in US, like TD waterhouse.

nelsona · Post by **nelsona** » Fri Jun 17, 2011 8:24 am

Tip. 9 questions is way over my limit.

Tax season is next spring. I've given you what you need to do before leaving Canada.

This gives you plenty of time to look for answers.