filing American and Canadian tax returns at same time -

My_question_is: Applicable to both US and Canada
Subject:        filing American and canadian tax returns
Expert:         taxman at centa.com
Date:           Tuesday January 09, 2007
Time:           02:09 PM -0500
QUESTION:
Hi,
I am American and will be moving to Canada with my wife who is a dula
citizen of canada and U.S.A. I understand that we are able to make
$70,000.00 (u.s.) each without having to pay the IRS any money.
I am wondering whta if my wife is a stay at home mom with no income?
I am also concerned that we will move to Canada and regret our decision due
to having  to file American and Canadian tax returns and may possibly owe
each government money.
If my wife and I both work and make over the $70,000.00 what would we end up
owing lots of money to the IRS. Also is there anything we can do to prevent
owing the IRS money such as making charitable donations to American
charities?
------------------------------------
david ingram replies:
You can actually exempt up to $82,400 USD each on your US return by filing
form 2555.  However, if you have children, you should likely report it all
and claim a foreign tax credit on form 1116 to get the child tax credit.
It would be unusual for you to have to pay both countries.  The Foreign tax
credits mean that you end up paying an amount equal to the highest tax but
not double tax.
Goto www.centa.com and read the US/CANADA Taxation section in the second box
down on the right hand side. then read the October 1995 newsletter in the
top left hand box.
Of course, we are here to look after those returns for you be fax, courier,
email (pdf files only) and snail mail or in person.
---------------------
David Ingram's US / Canada Services
US / Canada / Mexico tax, Immigration and working Visa Specialists
US / Canada Real Estate Specialists
My Home office is at:
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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 -
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