Americans Working in Canada and Taxes

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If you’re an American working in Canada, it is very important that you watch this video. There are major tax consequences that will directly affect you, espe…


ed smart says:

Or, to make it easier for you – if you don’t believe in the Canadian socialist way that has made it a thriving beacon of stability and civility, don’t come here. Period. Taxes are the price of a 1st world civil society. Don’t like 1st world civil societies? Stay home. And best wishes.

Allan Madan says:

If you earned the US income prior to becoming a resident of Canada, it will not be taxable to you in Canada. However, if the US income was earned while you were a resident of Canada, it will be taxable to you in Canada. In the 1st case, the US and Canadian returns can be prepared separately. In the 2nd case, you should prepare your US tax return first, then your Canadian return. [If you’re a green card holder or US citizen, the returns should be prepared at the same time]

joshe808 says:

so I would file a return for each country, should I do one before the other? file the 1040 then the Canadian?

Allan Madan says:

If you are moving to Canada and you become a resident of Canada for tax purposes, then you are taxed on your world wide income. Any income that you earned in the US, Canada, or anywhere else will be taxable to you in Canada.

You will have to convert your earnings in the US into Canadian dollars and report the income earned on your Canadian return. You will receive a tax credit for any taxes paid in the US.

joshe808 says:

I will be moving to Canada this year as a PR and I will have probably only worked in the US, so will I have to file in Canada as well? Once I am working in Canada, will I have to do conversion of currency for the forms or does the IRS take care of that?

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