New Streamlined Procedures for US Citizens Living In Canada
Posted on 05. Sep, 2012 by Phil Hogan, CA.
Tweet If you’re a US citizen or green card holder living in Canada and have not yet caught up on filing your US tax returns now is a great time to take advantage of the IRS’s new streamlined tax filing procedures. Essentially the IRS is allowing non-resident US tax payers to catch up the last [...]
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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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Should I incorporate my BC company?
Posted on 31. Jan, 2011 by Phil Hogan, CA.
Tweet Question Hi I run a successful online marketing business in Vancouver that I have been involved with since 2002. I’m getting a lot of conflicting advice on whether or not I should incorporate by business. Let me give you some facts and perhaps you can point me in the right direction: I make about [...]
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How do I file my late US tax returns as a Canadian resident?
Posted on 31. Jan, 2011 by Phil Hogan, CA.
Tweet Question Hello, I’ve lived in Canada for over 22 years and I haven’t filed a US tax return since I moved here (Ontario). Is the IRS going to want 22 years of tax returns filed? I don’t think I could even find any information more than 10 years back. I’ll take any help you [...]
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RRSP payment to UK resident withholding tax?
Posted on 23. Jan, 2011 by Phil Hogan, CA.
Tweet Question Hello, I moved from Canada in 2003 and left my RRSP in Canada. I’m planning on withdrawing $10,000 from the RRSP this year. How much Canadian tax will they withhold? Thanks for your time. XXXXX Answer Hi XXX Canada will withhold 25% of the RRSP payment at source. Unfortunately the withholding rate is [...]
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Withdrawal of RRSP as a US Citizen and Resident
Posted on 21. Jan, 2011 by Phil Hogan, CA.
Tweet Question Hello, Just wanting to get some advice on withdrawing my RRSP to pay my house here in the US. I am a dual citizen living in the states. Worked in canada for 10 years, about 10 ago. Thank You for your time. Answer Hi XXX Canada will withhold 25% of your withdrawal from [...]
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Left Canada and moved to US – Deemed Disposition Rules
Posted on 11. Jan, 2011 by Phil Hogan, CA.
Tweet Question Great website! Here is my situation…please let me know if you can help. Thank you… I left Canada (XXXXXX) about 9 years ago (in XX) and moved to California, where I now live. When I left Canada, I filed my Cdn taxes for the last year I resided in Canada (I’m not sure [...]
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