Attention: David Ingram; regarding tax return for Canada - international non-resident cross border income tax help estate family
Sent: Sunday, February 18, 2007 10:10
PM
To: [email protected]
Subject: Attention:David Ingram; regarding tax return for Canada
To: [email protected]
Subject: Attention:David Ingram; regarding tax return for Canada
Hello David,
I am Canadian citizen working in US on TN visa, my
family is here with me on TD visa. We have been here for more then a year.
We have a house in Ontario that we rent. We have never canceled Canadian
driver's license, healthcards, credit cards and bank account however
we have obtained US medical, driver's license, etc. We have been visiting
Ontario once for a week to do some repaires around house. My wife was not
working last year. We filed a 1040 Joint return for the US .
Question: What is the best way to file my Canadian
tax? Should we do it jointly or separately? Are we still considered Canadian
residents? Should we pay Provincial tax to Ontario or/and Federal Tax or
neither one?
Also could you please let me know how much would
you charge to prepare my Canadian tax?
Thank you in advance,
---------------------------------------
david ingram replies:
You are a non-resident of Canada although you have kept too
many Canadianisms
You need to file two returns. One for any earned income up
to the date of departure and the second for the rental on the house after you
left. This return is called a Section 216(4) return. Theoretically,
the Canadian return has to be prepared BEFORE the US return and to file a Joint
return in the US, you would also have to report any earnings from Canada in 2006
for before you moved to the US.
It is very unlikely that the US returns are
correct.
The following is a usual price
suggestion:
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 $2,400 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
$2,400 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.
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:
US / Canada / Mexico tax, Immigration and working Visa Specialists
US / Canada Real Estate Specialists
My Home office is at:
4466 Prospect Road
North Vancouver, BC, CANADA, V7N 3L7
Cell (604) 657-8451 -
(604) 980-0321 Fax (604) 980-0325
North Vancouver, BC, CANADA, V7N 3L7
Cell (604) 657-8451 -
(604) 980-0321 Fax (604) 980-0325
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 consultation and is to be regarded only as general
comment. Nothing 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 should obtain formal advice from a competent and
appropriately qualified legal practitioner or tax specialist
for expert help, assistance, preparation,
or consultation in connection with personal or
business affairs such as at www.centa.com. If you forward this
message, this disclaimer must be included."
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