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HeatDeath

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HeatDeath last won the day on March 21 2011

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About HeatDeath

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    Diamond Member
  • Birthday 08/14/1976
  • Member # 75283

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    Male
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    Salt Lake City, UT

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    Naturalization (approved)
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    Phoenix AZ Lockbox
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    Salt Lake City UT
  • Country
    Canada

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  1. Maybe, kinda, but possibly not really, and it's complicated. [Yes, I know. not really a helpful answer. ] The US and Canada have a tax treaty that, in theory, should relieve you from paying taxes to both Canada and the US. When you fill out your US tax return, there is a special separate form where you document any and all income earned in Canada for which you paid Canadian taxes, and the amount of Canadian taxes you paid. That amount comes right off the top of your taxable income, so even though you have to report the income earned in Canada, you should, in theory, not have to pay US taxes on it in over and above the Canadian taxes. At least that holds true for income. Capital gains, as always, is significantly more complicated, I haven't had to deal with cross-border taxes in over a decade, and I was never an expert. The advice given above holds - get a good cross-border accountant to figure this stuff out. It's not for the non-specialist.
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