User Panel
User Panel
User Panel
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Posted: 9/4/2014 8:07:00 PM EDT
[#1]
Yes, the US taxes worldwide income. So you'll pay US and Canadian taxes.
The good part is that the US and Canada have a tax treaty, so you'll only pay US taxes if they are higher than Canadian taxes (which they might be depending on where in Canada you work). You'll have to look into the residency issue. There may be specific rules about how taxes are calculated based on how long you resided in Canada. RF |
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Posted: 9/16/2014 3:01:41 PM EDT
[#2]
As stated above, you will pay Canadian income tax, then you file your US federal income tax and you can apply the payment you made to the Canadian Government as a credit towards US taxes owed.
I'm not sure on the nuances of residency, but I have a feeling it doesn't matter because regardless you are a US citizen and do not have dual citizenship (I assume). |
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Posted: 9/16/2014 3:12:04 PM EDT
[#3]
Quote HistoryQuoted:
As stated above, you will pay Canadian income tax, then you file your US federal income tax and you can apply the payment you made to the Canadian Government as a credit towards US taxes owed. I'm not sure on the nuances of residency, but I have a feeling it doesn't matter because regardless you are a US citizen and do not have dual citizenship (I assume). So how would dual citizenship change this? That is the long term goal. |
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Posted: 9/17/2014 10:50:26 AM EDT
[#4]
here's the official details:
http://www.irs.gov/Individuals/International-Taxpayers/Taxpayers-Living-Abroad |
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Posted: 9/17/2014 1:03:13 PM EDT
[#5]
Thanks!
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