I am a Canadian that left Canada in August 2013 on a three year TN Work Visa in USA. I do not own any properties in Canada but I have maintained my bank accounts, driver license, etc. and currently hold $10k in my RSP.
In early 2014, I purchased a home in Texas (rent is same cost as mortgage) solely under my name. I am now engaged with an American citizen and we are planning a wedding for 2015. We plan to stay in Texas for at least 5 years and I will apply for a greencard.
I do not plan to give up my Canadian citizenship and I do not have plans to withdrawal my RSP before retirement age – it is also possible that we relocate to Canada one day when we have kids (for the grandparents). Does that affect tax filings at all?
My questions are:
2013:
1. For the 2013 year, I will file a 1040NR which will include income that is sourced in the US only. I do not need to file the 8891 for my RSPs as I am a non resident for tax purposes, correct?
2. I will file my T1 which will include the US income and foreign tax credit. Can I indicate moving expenses as a deduction on Canadian T1 as my move to the US was for employment purposes? On the 2013 T1 return, would I need to indicate the permanent departure date? Is it mandatory to complete a NR73 – can I just indicate departure date on T1 instead?
3. I am on a work visa and should have non-immigrant intent to US but I know I plan to get a greencard in 2015 – is there anything I need to do now?
2014:
1. For the 2014 year, all my earnings will be from US. As I would be in US for over 183 days I will need to file a 1040 as a resident of USA for tax purposes. I assume I can deduct the mortgage interest expenses on the 1040 as any other filer would?
2. I would also need to file the 8891 for my RSPs each year going forward? Would I need to file a TDF 90-22 as well?
3. I believe I would not file a T1 in Canada for the 2014 year as I have indicated a departure date on the 2013 T1 return, so CRA should not expect a tax return, correct?
2015:
1. I need to file a 1040 as married and I will appy for a greencard.
2. I still need to file the 8891 and TDF 90-22?
3. I do not file anything in Canada as there are no ties (does RRSP count)?
Future:
1. If we choose to permanently relocate to Canada, we would eventually renounce American greencard/citizenship to eliminate tax reporting requirements. Is that how it works?
Thank you so much for your help!
TN Visa Tax Filing in USA & Greencard intent following y
Moderator: Mark T Serbinski CA CPA
You don't give up Cdn citizenship in any event, so no need to even mention.
2013: For Canada you must file a departure return, following all the guidelines in the Emigrants guide, including deemed disposition and returning any CCTB GST you mistakenly received after august. You DO NOT live in Canada and should not be filiing as a resident. Period. You do not include your US income. You need to advise all in Canada, bank, RRSP, GST, CCTB, etc, that you are US resident.
For US, you have the choice of filinf 1040NR (assuming you did not meet SPT), dual-status, or even full year 1040. Its your choice, which ever is less tax, and less work to report. How you file in US does not impact your non-resident status I ncanada.
You do not need to file NR73. By fact and by treay, you left in August 2013.
Non-immigrant intent is not the same as tax residency.
2014/2015: you file a normal 1040, because you are resident f US.
You need 8891 and FBAR (TD form is obsolete, FinCEN has replaced).
You are done with CRA.
You should be collapsing your RRSP, as it will never be lower taxed than now (25% flat) and it is a hassle for you in US. Take it out tomorrow, and invest the remaining in US.
when you marry you will file jointly.
2013: For Canada you must file a departure return, following all the guidelines in the Emigrants guide, including deemed disposition and returning any CCTB GST you mistakenly received after august. You DO NOT live in Canada and should not be filiing as a resident. Period. You do not include your US income. You need to advise all in Canada, bank, RRSP, GST, CCTB, etc, that you are US resident.
For US, you have the choice of filinf 1040NR (assuming you did not meet SPT), dual-status, or even full year 1040. Its your choice, which ever is less tax, and less work to report. How you file in US does not impact your non-resident status I ncanada.
You do not need to file NR73. By fact and by treay, you left in August 2013.
Non-immigrant intent is not the same as tax residency.
2014/2015: you file a normal 1040, because you are resident f US.
You need 8891 and FBAR (TD form is obsolete, FinCEN has replaced).
You are done with CRA.
You should be collapsing your RRSP, as it will never be lower taxed than now (25% flat) and it is a hassle for you in US. Take it out tomorrow, and invest the remaining in US.
when you marry you will file jointly.
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
I like your post very much,it seems that it is very kind of you.would you be my friend,hope for your response.If later you encounter any problem, we can work together to exchange views on it. So that we can share more good idea. This is for us, it should be a very good thing. Sincerely look forward to your reply. hopefully,if you play Runescape you can view this site to [url=http://www.fifa14coinsale.co.uk/]Cheap FIFA 14 Coins[/url] that you will need.and I am a fan of RS.
__________________
Dream to be A billionaire
How to buy RS Gold ? You can have a clear process at http://www.fifa14coinsale.co.uk/
__________________
Dream to be A billionaire
How to buy RS Gold ? You can have a clear process at http://www.fifa14coinsale.co.uk/