Hi all,
Thank you for viewing this thread first of all.
I am a new resident of US, originally from Waterloo, Ontario. Looking for some help regarding tax filing for both US and Canada.
I started work around late September of last year with a US-based employer and am on my TN visa currently.
How should I proceed to file my taxes ? Get an account firm or quick tax/turbo tax software for both US & Canada?
What forms/procedures would you advise that I follow ?
I have a CC, Student loan and chequing account in Canada which I intend to pay off and close eventually.
Let me know, please.
Thank you !
Canadian citizen, working for US employer since Sept 2015
Moderator: Mark T Serbinski CA CPA
You will file a departure return for Canada.
You can choose to file non-resident, dual-statsu of full-year for US in 2015, whichever yields least tax. after that, normal like any other American.
been covered here 100 times, happy browsing.
You can choose to file non-resident, dual-statsu of full-year for US in 2015, whichever yields least tax. after that, normal like any other American.
been covered here 100 times, happy browsing.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
Okay, so in summary:
1) File a normal Canadian return. I was a student until August 2015 - so only thing on the Canadian side would be $0 income and claim on my tuition fees. No RRSP or TFSA stuff either. Do I still need to file a 'departure' return as you state in one of the other threads?
2) File a Non resident return for US in 2015. However, for the next year, file as a resident of US. so basically a 1040 NR in 2015 and 1040 in 2016, correct?
3) So basically, use turbo tax for both countries, separate file formats should work without any issues?
4) When do people have double taxation issues - is it only applicable to those Canadian citizens work or sell/rent property in Canada while also being employed in US?
5) What is the benefit of declaring a non resident of Canada and removing health care and any & all ties to Canada.
I do not intend to sell or rent property nor work in Canada from here-on. You might recall my thread on another forum regarding TN--> GC.
Thanks a lot nelsona for your help and time.
1) File a normal Canadian return. I was a student until August 2015 - so only thing on the Canadian side would be $0 income and claim on my tuition fees. No RRSP or TFSA stuff either. Do I still need to file a 'departure' return as you state in one of the other threads?
2) File a Non resident return for US in 2015. However, for the next year, file as a resident of US. so basically a 1040 NR in 2015 and 1040 in 2016, correct?
3) So basically, use turbo tax for both countries, separate file formats should work without any issues?
4) When do people have double taxation issues - is it only applicable to those Canadian citizens work or sell/rent property in Canada while also being employed in US?
5) What is the benefit of declaring a non resident of Canada and removing health care and any & all ties to Canada.
I do not intend to sell or rent property nor work in Canada from here-on. You might recall my thread on another forum regarding TN--> GC.
Thanks a lot nelsona for your help and time.
1. You must file Cdn departure return, please read my answers more carefully.
2. Again, you have a choice on how to file in 2015.
3. I do not believe turbo tax handles 1040NR, but I may be wrong. Check for your self.
The rest I won't entertain.
2. Again, you have a choice on how to file in 2015.
3. I do not believe turbo tax handles 1040NR, but I may be wrong. Check for your self.
The rest I won't entertain.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
Okay,
1)You said.. " Follow the rules outlined in the Emigrants guide " - which guide are you referring to ?
2) How does one know which yields less tax ?
So you are saying even if I own bank accounts and a loan, I do not need to file taxes in Canada for 2016 as long as I have no further involvement, correct ?
1)You said.. " Follow the rules outlined in the Emigrants guide " - which guide are you referring to ?
2) How does one know which yields less tax ?
So you are saying even if I own bank accounts and a loan, I do not need to file taxes in Canada for 2016 as long as I have no further involvement, correct ?