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Tag: Snowbird
U.S. tax-filing obligations for Canadian Snowbirds
The Globe has a summary at http://www.theglobeandmail.com/globe-investor/personal-finance/taxes/ignore-us-tax-filing-obligations-at-your-financial-peril/article29783607/
Tax Tips of Canadian Snowbirds
The Saskatoon StarPhoenix has a good summary of tax issues for Canadian snowbirds who spend their winters in the sunny south. They start with a reminder to fill in the IRS Form 8840 by June 15th and then go on …
Form T1135 – Is it required for Canadian Snowbirds
Just finished our Canadian taxes and Turbotax came up with a warning that as owners of a home in the USA, we needed to fill in Form T1135. The online form is available at http://www.cra-arc.gc.ca/E/pbg/tf/t1135/t1135-fill-14e.pdf. Was this really necessary? The answer …
Form T1135 – Is it required for Canadian Snowbirds Read more »
Important caveats for Canadian snowbirds in the USA
Read below for a warning from Moodys for Canadian Snowbirds. Thanks to R for forwarding this article on important caveats for Canadian snowbirds in America. The Immigration Reform legislation currently before Congress would allow Canadian Snowbirds to stay for more than …
Important caveats for Canadian snowbirds in the USA Read more »
Filing Taxes in Arizona
If you are a non-resident alien who needs to file taxes in Arizona, see the following. http://www.azdor.gov/LinkClick.aspx?fileticket=ya1vt7rSO0s=&.. You can e-file using this form. http://www.azdor.gov/LinkClick.aspx?fileticket=1lBSrLEEXZI%3D&tabid=257&…
What snowbirds should know
Some interesting info and important considerations for Canadian Snowbirds at this Globe and Mail article. 1. How long can we stay? Two factors are important to consider for this question. Day count for border services purposes. Canadians can visit for …
Capital Improvements or Repairs
There is a big difference between capital improvements and repairs. According to Turbo Tax, “the cost of property improvements generally must be capitalized and depreciated over several years (by following IRS depreciation tables) rather than deducted in the year paid. By …
Turbo Tax Tips
Turbo Tax will walk you through the process of reporting your rental income to the IRS. They have a posting on Real Estate Tax and Rental Property at the previous link. They promise to “help you with deductions, depreciation, and getting …
Rental Income and Expenses – IRS Tax Tips
For the snowbird who also wants to rent out their American vacation home, here are some links to tax tips. My starting point was the IRS page on Rental Income and Expenses – Real Estate Tax Tips. It provides tips on …