Others in the Business Len Vandenberg CA Kelowna - TN-Visa in USA, filing taxes back in - Article IV of US Income Tax Convention
David Ingram replies:
Len Vandenberg is well qualified in Kelowna.
His phone number at BDO Dunwoody and Co. is (250) 763-7600
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I am Canadian citizen and have been working in USA on TN-Visa since 2004. I have a valid Canadian driver license, no medical card, working bank account and has no property. All my family is staying with me in USA.
1) Am I suppose to file a Canadian taxes every year.
2) If I do, what would be the roughly tax break up like 20% paying in Canada and 80% in USA.
3) What would be your fee to file Canadian and USA taxes.
Thanks & regrads.
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david ingram replies:
You should have filed a departing Canada return in 2004. there is no need to file a 2005, 2006, or 2007 return as you havce described your situation.
If, on the other hand, the Canadian government asks you for a return for any of those years, you, as a Canadian citizen, are required to file. Report all of your US income on the T1 and then deduct it all on line 256 of the return under Article IV of the US - Canada Income Tax Convention (treaty).
This older question and answer may help
Len Vandenberg is well qualified in Kelowna.
His phone number at BDO Dunwoody and Co. is (250) 763-7600
DO YOU HAVE A BRANCH OFFICE IN
KELOWNA OR VERNON BC OR IS THERE SOMEONE THAT KNOWS US CANADIAN TAX LAW
IN THESE TOWNS
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Original Message -----
Sent:
Wednesday, January 23, 2008 11:59 PM
Subject:
US CANADA Working on TN-Visa in USA, filing taxes back in Canada -
Article IV of US Canada Income Tax Convention (Treaty) -nternational
non-resident cross border income tax help estate family trust
assistance expert preparation & immigration consultant david ing
------------------------------------------
I am Canadian citizen and have been working in USA on TN-Visa since 2004. I have a valid Canadian driver license, no medical card, working bank account and has no property. All my family is staying with me in USA.
1) Am I suppose to file a Canadian taxes every year.
2) If I do, what would be the roughly tax break up like 20% paying in Canada and 80% in USA.
3) What would be your fee to file Canadian and USA taxes.
Thanks & regrads.
----------------------------------------------------
david ingram replies:
You should have filed a departing Canada return in 2004. there is no need to file a 2005, 2006, or 2007 return as you havce described your situation.
If, on the other hand, the Canadian government asks you for a return for any of those years, you, as a Canadian citizen, are required to file. Report all of your US income on the T1 and then deduct it all on line 256 of the return under Article IV of the US - Canada Income Tax Convention (treaty).
This older question and answer may help
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Calls welcomed from 10 AM to 9 PM 7 days a week Vancouver (LA) time - (please do not fax or phone outside of those hours as this is a home office)
$1,600 would be for two people with income from two countries
David Ingram expert income tax help and preparation of US Canada Mexico non-resident and cross border returns with rental dividend wages self-employed and royalty foreign tax credits family estate trust trusts income tax convention treaty
I moved to Nevada for a job July 2006, and still work there
now. Do I do my
taxes in canada and us seperately? My earnings for 2006 in Canada were very
low.
_______________________________________________
david ingram replies:
You have more than one choice.
1. a) You file a departing Canada tax return including form T1161 and 1243 and 1244 if you left more than $25,000 worth of assets behind.
b)
You file a 1040NR Dual Status Statement for the US and then a 1040 Dual Status Return to report the US income only. The statement is there to separate out any US income you may have received BEFORE you actually went to the US. You can NOT claim the standard deduction on a Dual Status Return You can only use itemized deductions on a Dual Status Return.
2. a) You file Canada as in 1a) above.
b) You file a 1040 tax return reporting your world income for the year including the Canadian income. Then you file US form 1116 to claim a foreign tax credit for the tax, CPP and EI you paid to Canada. This allows you to claim the standard deduction on the US return.
Good luck. Remember that you can always send the returns here by fax, courier snail mail or pdf email.
-------------------------------------------
david ingram wrote:
taxes in canada and us seperately? My earnings for 2006 in Canada were very
low.
_______________________________________________
david ingram replies:
You have more than one choice.
1. a) You file a departing Canada tax return including form T1161 and 1243 and 1244 if you left more than $25,000 worth of assets behind.
b)
You file a 1040NR Dual Status Statement for the US and then a 1040 Dual Status Return to report the US income only. The statement is there to separate out any US income you may have received BEFORE you actually went to the US. You can NOT claim the standard deduction on a Dual Status Return You can only use itemized deductions on a Dual Status Return.
2. a) You file Canada as in 1a) above.
b) You file a 1040 tax return reporting your world income for the year including the Canadian income. Then you file US form 1116 to claim a foreign tax credit for the tax, CPP and EI you paid to Canada. This allows you to claim the standard deduction on the US return.
Good luck. Remember that you can always send the returns here by fax, courier snail mail or pdf email.
-------------------------------------------
david ingram wrote:
---------------------------------------------------------------------------------------------------------------
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Cell (604) 657-8451 -
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Calls welcomed from 10 AM to 9 PM 7 days a week Vancouver (LA) time - (please do not fax or phone outside of those hours as this is a home office)
Disclaimer:
This question has been answered without detailed information or
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in this message is or should be construed as advice in any particular
circumstances. No contract exists between the reader and the author and
any and all non-contractual duties are expressly denied. All readers
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Be ALERT, the world needs more
"lerts"
David Ingram
gives expert income tax & immigration help to non-resident
Americans & Canadians from New York to California to Mexico
family, estate, income trust trusts Cross border, dual citizen - out of
country investments are all handled with competence & authority.
Phone consultations are $400 for
15 minutes to 50 minutes (professional hour). Please note that GST is
added if product remains in Canada or a phone consultation is in Canada.
This is not intended to be
definitive but in general I am quoting $800 to $2,800 for a dual
country tax return.
$800 would be one T4 slip one W2
slip one or two interest slips and you lived in one country only - no
self employment or rentals or capital gains - you did not move into or
out of the country in this year.
$1,000 would be the same with one
rental
$1,200 would be the same with one
business no rental
$1,200 would be the minimum with a
move in or out of the country. These are complicated because of the
back and forth foreign tax credits. - The IRS says a foreign tax credit
takes 1 hour and 53 minutes.
$1,500 would be the minimum with a
rental or two in the country you do not live in or a rental and a
business and foreign tax credits no move in or out
$1,600 would be for two people with income from two countries
$2,800 would be all of the above
and you moved in and out of the country.
This is just a guideline for US /
Canadian returns
We will still prepare
Canadian only (lives in Canada, no US connection period) with two or
three slips and no capital gains, etc. for $150.00 up.
With a Rental for $350
A Business for $350 - Rental and
business likely $450
And an American only (lives in the
US with no Canadian income or filing period) with about the same things
in the same range with a little bit more if there is a state return.
Moving in or out of the country or
part year earnings in the US will ALWAYS be $800 and up.
TDF 90-22.1 forms are $50 for the
first and $25.00 each after that when part of a tax return.
8891 forms are generally $50.00 to
$100.00 each.
18 RRSPs would be $900.00 - (maybe
amalgamate a couple)
Capital gains *sales) are likely
$50.00 for the first and $20.00 each after that.
Just a guideline not etched
in stone.
This from "ask an income trusts tax and
immigration expert" from www.centa.com or www.jurock.com or www.featureweb.com. David Ingram deals on a daily basis with expatriate tax
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