US Income living in canada

bobby123 · Post by **bobby123** » Sun Feb 12, 2017 6:46 pm

i work in US with a TN and live in canada. i commute every day back and forth. i wanted to file my canadian return and was wondering what is the best software to do my canadian taxes that will take into factor my us income and the exchange rate on my us income

nelsona · Post by **nelsona** » Mon Feb 13, 2017 11:16 am

Any Cdn software can handle this, but you will have to put in the numbers and calculate the numbers in C$ using published exchange rate(s).

bobby123 · Post by **bobby123** » Mon Feb 13, 2017 11:12 pm

Is there any way I can contact you? I am using hr block software and had a couple of quick questions? I would really appreciate it

nelsona · Post by **nelsona** » Mon Feb 13, 2017 11:26 pm

No. Ask your questions here, and someone might answer. In any event, I try not to handle software questions.

bobby123 · Post by **bobby123** » Tue Feb 14, 2017 8:52 am

For foreign taxes paid , do I add up federal, social security and Medicare taxes or just report federal taxes ?

nelsona · Post by **nelsona** » Tue Feb 14, 2017 11:23 am

All of that. The fed and state tax are the ones calculated on those returns, and the fica comes from your w-2

bobby123 · Post by **bobby123** » Tue Feb 14, 2017 10:04 pm

How much foreign tax did you pay? (enter the amount in Canadian dollars)

for foreign tax - i am adding federal income tax, social security tax and medicare tax from my W-2 and taking that amount and multiplying by bank of canada avg rate for 2016. that seems correct right? am i missing anything?

Thanks for your help

nelsona · Post by **nelsona** » Wed Feb 15, 2017 10:31 am

Reread what I said. "The fed and state tax are the ones calculated on those returns, and the fica comes from your w-2"

bobby123 · Post by **bobby123** » Wed Feb 15, 2017 4:11 pm

is there a number i can call you at? i will really appreciate your help

nelsona · Post by **nelsona** » Thu Feb 16, 2017 6:26 am

No, This is not complicated.

bobby123 · Post by **bobby123** » Sat Feb 18, 2017 12:50 am

Why do we not include the Medicare and social security tax?

nelsona · Post by **nelsona** » Sat Feb 18, 2017 7:16 am

Booby, maybe you are unaware, but FICA IS social security and Medicare tax. When you saw "fica" in my earlier response, did you simply ignore it? A simple google would have given you the answer.

bobby123 · Post by **bobby123** » Sun Feb 19, 2017 6:01 pm

so for example on my W-2, if i had the following

federal income tax withheld - 5000
social security tax withheld - 1000
medicare tax withheld - 500

on my canadian return for "foreign taxed paid" line, would it be 6500?

nelsona · Post by **nelsona** » Sun Feb 19, 2017 8:42 pm

NOOOOO!

I said you determine you fed tax and state tax from your TAX RETURN!!!!

bobby123 · Post by **bobby123** » Sun Feb 19, 2017 11:58 pm

Ok I think I got it . For foreign taxes paid do i add up my federal tax withheld and state tax withheld ?