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Subject: Best date to immigrate = January 1st?
Hello David-
I'm a US / California resident who just got my permanent resident's visa to Canada. I have some flexibility as to when I move. Would January 1st be the best date to do so? I'm thinking this will be a clean break tax wise, so for 2003 I'll only file US and California returns (no Canada), and 2004 I'll only file Canada/Ontario plus US tax returns (i.e. no California).
1. Is January 1st the right date to immigrate, or would it be December 31st?
2. Would there be any benefit to immigrating before January 1st?
Thanks,
NXXXXXX
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david ingram replies:
There are at least 100 questions ahead of yours if not 300 I should have answered. However yours came in between questions and is being answered 2 minutes after you sent it and since you have been on this list for a while and since you have less than two weeks to make the move, you get first dibs.
I should also call this the "unfair to tax Consultants question" because we get to charge you less if you move at the right date.
MOVE on Dec 27, 28. 29, 30 or 31 and be here for every minute of 2004.
That will make the preparation of your 2004 returns immensely cheaper and easier and will have no material affect on 2003 unless you were to receive a year end bonus or something on Dec 31st.
Welcome to Canada. And, as you know, we love doing this type of tax return by mail, fax, email, or courier.
If you are paying attention, you might also note that this email reverts my address to the old address at Park Royal in West Vancouver. A marital breakup (which is still happening) was causing a possible change of office and I am returning to the fold as it were.
Unfortunately, one of our key associates is leaving to do more accounting and finish off his CGA degree. D'Arcy Von Schleinitz will only be with us a day a week this next tax season so he will be unable to do all of his old US clients and will not be taking new ones. However, Gail Ritter, Sonja Clark CA CPA LLb, George Hatton CA, and myself will still be there with a combined 80 years or so of experience in US/Canada tax returns.
David Ingram's US/Canada Services
US / Canada / Mexico tax and working Visa Specialists
US / Canada Real Estate Specialists
108-100 Park Royal South
West Vancouver, BC, CANADA, V7T 1A2
Calls accepted from 10 AM to 10 PM 7 days a week
Res (604) 980-3578 Cell (604) 657-8451
(604) 980-0321
[email protected]
www.centa.com www.david-ingram.com
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 & the author and any and all non-contractual duties are expressly denied. All readers should obtain formal advice from a competent financial, or real estate planner or advisor & appropriately qualified legal practitioner, tax or immigration specialist in connection with personal or business affairs such as at www.centa.com. If you forward this message, this disclaimer must be included."
This from "ask an income tax and immigration and bankruptcy expert" from www.centa.com or www.jurock.com or www.featureweb.com. Canadian David Ingram deals daily with tax returns dealing with expatriate:
multi jurisdictional cross and trans border expatriate problems for the United States, Canada, Mexico, Great Britain, the United Kingdom, Kuwait, Dubai, Saudi Arabia, South Africa, Thailand, Indonesia, Egypt, Antarctica, Japan, China, New Zealand, France, Germany, Spain, Italy, Russia, Georgia, Brazil, Peru, Ecuador, Bolivia, Scotland, Ireland, Hawaii, Florida, Montana, Morocco, Israel, Iraq, Iran, India, Pakistan, Afghanistan, Mali, Bangkok, Greenland, Iceland, Cuba, Bahamas, Bermuda, Barbados, St Vincent, Grenada,, Virgin Islands, US, UK, GB, American and Canadian and Mexican and any of the 43 states with state tax returns, etc.
Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico,New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon. Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, West Virginia, Wisconsin, Wyoming, British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec City, New Brunswick, Prince Edward Island, Nova Scotia, Newfoundland, Yukon and Northwest and Nunavit Territories, Mount Vernon, Eumenclaw, Coos Bay and Dallas Taxman and Tax Guru Your name has been added to our email list because of an enquiry we have received, we may not answer your question but
another similar question will be as we lump them.
You may find more answers at www.centa.com
David Ingram of the CEN-TA REALTY Group
US / Canada / Mexico tax and working Visa Specialists
US / Canada Real Estate Specialists
108-100 Park Royal South
West Vancouver, BC, CANADA, V7T 1A2
(604) 980-0321 - Fax 913-9123 [email protected]
www.centa.com www.david-ingram.com
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