Archive for February, 2011
New husband in the US – Tax implications
Posted on 22. Feb, 2011 by Phil Hogan, CA.
Tweet Question Hello, I am a self employed Canadian and US citizen residing in Canada. I file Canadian and US income taxes each year on worldwide income with foreigh tax credits/exclusions. I am going to marry a US citizen who resides in Massachusetts (he is not a Canadian citizen). We plan to continue to “visit” [...]
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Should I convert my IRA before moving to Canada?
Posted on 04. Feb, 2011 by Phil Hogan, CA.
Tweet Question Hello, I have a question…I’m planning on moving to Canada (I’m a US citizen) in the next few months and I’m wondering whether I should convert my existing IRA ($200,000) to a ROTH IRA or enter Canada and roll it into an RRSP. What are your thoughts? What are the tax implications? Thanks [...]
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Do I pay US tax on interest earned from the US?
Posted on 03. Feb, 2011 by Phil Hogan, CA.
Tweet Question Hello Phil, I have what I hope is a simple question. If a Canadian resident earns interest income on money invested in the US, does the Canadian resident then have to file US income tax? If so, is an ITIN number needed by the Canadian resident? Thanks XXXXXX Answer Hi XXXX Under the [...]
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Canadian company (BC) doing business in the US
Posted on 01. Feb, 2011 by Phil Hogan, CA.
Tweet Question Hi Phil I own a BC corporation and I’m starting to do some business in California. I sell online goods to residents of California and I plan on expanding the business to other states on the west coast and perhaps the east coast if things go well. Can you tell me if I [...]
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