A few questions about filing

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

Moderator: Mark T Serbinski CA CPA

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madg05
Posts: 6
Joined: Tue Mar 26, 2019 4:50 pm

A few questions about filing

Post by madg05 » Tue Mar 26, 2019 5:03 pm

Hello,

Firstly, I'd like to say that this forum is AMAZING. There's a wealth of knowledge here and other articles I have read on Serbinski's website are also quite impressive. This is the first firm I have come across in my research that has provided so much knowledge and really seems to understand US + Canada taxes in depth.

I moved to the US for work from Canada (TN visa) in May 2018 and am keeping both tax residencies, US (no choice) and Canada (by choice due to personal reasons), for 2018. I have a few questions that I need to answer before I decide how to approach my Canadian taxes, i.e. do them myself vs. get a professional to do them, depending on their complexity. Would love guidance from the professionals at Serbinski:

1) If I stay as a tax resident of Canada, do I have to declare 100% of US income from 2018? What I'm wondering is - is there a way to show partial US income in Canadian tax filing, i.e. declare non-residency of Canada after Sep'18 and only show US income from May-Sep to reduce taxes owed in Canada? But would this remove Canadian residency as well post Sep'18?

2) I read somewhere on the forum that there is a way to use social security tax and medicare tax to reduce taxes in Canada? Would really appreciate guidance on this since I haven't found a way to do this so far.

3) If I decide to become a non-resident of Canada starting 2019, do I just stop filing taxes or is there a formal process that I have to go through? I still have bank accounts and credit cards in Canada which I will be keeping, so would like to know if I need to take any action.

4) Does Serbinski help with the FBAR process? Is it an annual process?

Thank you very much in advance,
Maddy

madg05
Posts: 6
Joined: Tue Mar 26, 2019 4:50 pm

Re: A few questions about filing

Post by madg05 » Tue Mar 26, 2019 6:08 pm

Reposted above in a new thread. Please reply in the other thread. Thanks!

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