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US/Canada Tax Preparation

Hello there,

I am a US citizen residing in the US with rental properties in Vancouver,
BC. I normally prepare my US taxes early in the year around February. Will
I have the paperwork from Canadian banks for interest income, mortgage
interest paid, statements of rents from management companies, etc, in time
to include with the US return or do I need to file an extension while I
wait?

How much would your office charge to do returns for both US and Canada?

Thanks,

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Question on Record of Employment from US company when working in Canada

Sent: Wednesday, December 07, 2005 8:45 AM
To: [email protected]
Subject: Question on Record of Employment from US company



I have worked in BC, for a company based in the USA for the past 5 years. They have their payroll set up through a company for their Canadian Employees and I have been receiving my T4 each Feb. as required. My problem has been that I have been laid off due to restructuring, and they have not sent my Record of Employment (4 weeks later) and they don’t seem to know what it is and they think it doesn’t apply to them. Do you have any suggestions? I believe they must provide me with it, and I am not sure how to get it.

Thanks,

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Canadian & US citizen moves to Illinois in US - Where does he pay tax

To: David Ingram
Subject: Canadian & US citizen moves to US


I am both a Canadian and a US citizen and have been living permanently in Canada. I have been filing both Canadian and US tax returns. My company plans to send me to Illinois for 2-3 years along with my family. Must I declare my income on both the US and Canadian declarations? Must I also file a Illinois return?

What differences occur if I am paid by the Canadian company vs the US company?

What must I do if I finally decide to stay permanently in the US?
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Sad but necessary questions

Sent: Saturday, December 10, 2005 9:12 PM
Subject: A sad but necessary questions

David –

I hate to ask you this, but are there differences in the way divorces are handled in the US vs. Canada? What are some of the considerations?

I particularly would like to know which Country would be the better venue for someone such as myself: male with a certain amount of assets being under consideration. Needless-to-say, I’d want it to be worked out between us and not go before a court, but I can’t assume that’ll be what will happen.

I would prefer to have it handled up here if it comes to that, which is looking likely.

Also – we have no children, but there is a cat that I’d at least like to have visitation rights with (I’m serious).

It’s not been easy lately, and I appreciate any advice you might have.

Thanks very much!!

Hope all is well with you and yours!
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Building house for sale in Alberta

QUESTION: My husband and I are planning to build a house here in Alberta,
the house will be built by a Builder. The will cost us over 600,000.00
dollars. After it is built we will sell it. Since it is a new home do we get
to claim the GST? I was thinking if we open up a company for buying-selling
new homes,can we get the GST back or not?
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Builder with corporation, rented new house to himself for a year and then transferred it to himself

My question is: Canadian-specific

QUESTION: I own a Real Estate Development Company and have transferred a
home I built from the company to my personal name. I rented the house from
the company for one year and then had it appraised and transferred at the
appraised value. No money however changed hands. I assumed that the equity
in the house would be treated as taxable income and I would pay taxes based
on this. Does this work or does money actually have to change hands?

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Father on title - who owns apartment and who pays the tax?

My question is: Canadian-specific

QUESTION: I purchased an apartment about four years ago.I lived there for one year and I have been renting it out since then.when I bought it my father had to co-sign for the morg. and became one per cent owner.I have been claiming all the rental income on my name.there has been no money exchange between us, my father i guess was just an insurance for the bank.My question is I have gotten my fathers name taken of the morg. and land tittle so now I'am now 100 per cent owner.Now do we both pay capital gain how is it calculated and is there any other tax we have to pay?I payed $126,000 it was assesed at $165,000.
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US citizen working offshore for Canadian Corporation while living in the USA

QUESTION: Hi-
I'm a US citizen about to take a job with a Canadian based company.
I'll continue to live in the US, but will work overseas mostly, but on
occasion in Canada. I'm looking at the possibility of opening a savings
account with a Canadian bank for deposit of my pay to take advantage of the
current exchange rate differential of change. First, can I do this?
Second, if I can, are there Canadian tax implications? I'm aware I'll have
to pay tax to the US.

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From non-resident in Thailand to resident of Canada in Dubai without going home

Dear David

I have enjoyed reading your responses on a wide variety of topics and situations and currently find myself in one that I have not seen addressed yet.

I am a Canadian and have been working in Thailand for the past three years, I have done everything needed to establish non-resident status in Canada. I intend to complete my current contract in August, 2006 here before taking a position with a Canadian employer in Dubai. Once there, I could elect to pay EI, CPP and also have deductions for a Canadian College Teachers Pension fund - in effect, become a Canadian resident, without having actually resided in Canada between the work here in Japan and the position in Doha. It appears that this might be more beneficial in the long run than continuing with non-resident status, as the employer has factored in adequate extra compensation for Canadian taxes and a per diem which I would not get if I were to take the job under non-resident status.

Will this jeapordize the non-residency I have established for my time spent here in Thailand? How would I go about switching my status back to Canadian resident without taking a chance on having the four years in Thailand made subject to Canadian taxes - or is this not a concern?

Thanks for your insights.
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how to pay US tax when working for three months as contract employee

I am a canadian about to be an independent contractor working in the U.S. for 3 months. I am using a per diem schedule.

This is my first time as a U.S. contractor and wonder how I would handle the U.S.-Canada personal income taxes? any suggestions welcome

thanks!