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US TAX ABROAD (Canada)

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US tax - US/CDN citizens

US tax Q&A in cross-border context pertaining to US citizens in Canada and Canadians in the US tax system.
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Entity cross-border tax

Expanding Canadian business (including online) or investment (including property) into USA
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New Posts
  • mr.markrobson
    5 days ago

    We are looking to purchase a condo in Florida for under 200k. We will be renting it out most of the time. When we sell the property how much tax would we have to pay? If there is a tax can we write off some expenses relating to the sale of the property? Thanks
  • asharma.gd
    Oct 29

    I hold Canada PR and plan to obtain Canadian Citizenship. Currently I rent a place and I am pondering whether to buy a home or not in Canada ? As I plan to move to US for work for few years. But if buy home in Canada then I willl have ties with Canada and will have to submit taxes in Canada on worldwide income. I know there is dual tax agreement between Canada and US and I can claim foreign tax credit on US filed tax. But I was just wondering if it is good idea for me to buy home in Canada if I plan to move out for a few years. Lets say I earn approx 150 K in US (i am married) , on a very high level approximately how much more I would have to pay more in Canada
  • psspitfier
    Oct 11

    The CRA I asking me for my transcript from 2009. From what I am reading,I believe the US government destroys them after so many years. I think 7. Can anyone confirm this? What do you do if this is true?