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I really enjoy your emails and column, thanks.
2 Questions:
1. A year ago, I moved back to Canada. At that point, my
common-law husband also moved back, but because he has a DUI from
TEXAS (considered a felony in Canada), immigration advised us to
get 1-year visitor visas, since he works out of Everett and is
also frequently in Portland visiting his kids. I believe I
signed this document. He has now left me and moved back to the
US but is frequently back in Canada. Am I under any liability
because of this Visa (e.g. if he hits someone driving drunk in
Canada)? If so, who do I contact to revoke my signature? I've
tried to call Immigration on numerous occasions and cannot get
through.
2. A US Company which we both owned is now going to be 100%
owned by me. I understand I have to file the foreign ownership
form along with the taxes due. Is there any advantage in having
this US company owned by my Canadian company rather than by me
personally?
Thanks,
XXXXXXX
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david ingram replies:
As a previous paying client, you receive prompt attention.
You have an interesting US / Canada Tax problem and I hope that
you have it in hand. If you are self-employed with items on line
135 of your Canadian return, your Canadian and US returns are not
due until June 15th. If not done, we, of course, are ideally set
up to handle the problems with two US CPA's and Two Canadian CA's
on staff, four US / Canadian support staff and of course moi!
1. The only item you may have signed that I know of (willing
to be corrected and someone will correct me if I am wrong) is a
support document with CIC that has you support your spouse for up
to ten years. I have never heard of this being signed when the
spouse has not been granted PR (permanent residence status).
What I think is that you signed it with your original sponsorship
paperwork but it would have been cancelled with the change to
visitor status.
2. If you want to add $5,000 a year to your accounting bill,
have a Canadian Company own the US company. Keep it in your name
but at the risk of being commercial, you should come and spend a
few dollars to have it all looked at it. We have two people
capable of looking after the US and Canadian side of that US
company and there are few places where one company can look after
both parts under one roof.
3. What is your US status? My records show you were going to
get an L1 visa with BPTrade and that you used McNaughton in
Canada.
If you have given up your US status, you still have the option of
filing a standard 1040 and claiming full exemptions and
deductions by reporting your Canadian Income and claiming a
foreign tax credit.
That should be investigated rather than just filing a US dual
status tax return.
Hope this helps. I will disguise and use as a Q& A
david
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