By Terry F. Ritchie
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Extra resources for The Canadian Snowbird in America: Professional Tax and Financial Insights into a Temporary U.S. Lifestyle
If this total equals 183 days or more, and you spend more than 31 days in the United States in the current year, you are considered a resident alien for the current year. If this total equals 182 days or less, you are considered a non-resident alien for the current year. Consider the following examples. Example 1: Non-Resident Alien Days Present in United States Equivalent Days 120 120 t-1 120 x 1/3 40 t-2 120 x 1/6 20 Year Current Year Total 180 THE CANADIAN SNOWBIRD IN AMERICA 22 Because the days calculated in this example are fewer than 183, you are not considered a resident of the United States for income tax purposes.
S. gov), not the irs. The normal processing time for an itin, according to the irs, is between four and six weeks. However, in our experience, processing times are much longer, so we encourage you to submit Form W-7 well in advance of when you need it! S. Gambling Winnings Many of you have spent some time in the casinos to take a break from the nice weather. Some of you have even hit the big jackpot but are shocked when the casino gives you a check for less than what you won. Snowbirds are subject to a tax on gambling or lottery winnings at the rate of 30% at the time of the win.
S. purposes) is not mandatory for Canadian income tax purposes. S. tax due on the property, you would not be eligible to take a foreign tax credit on your Canadian return if you had a net profit (assuming you do not depreciate the Florida property for Canadian tax purposes). S. Real Estate We have had countless Canadians contact us wondering what the tax implications are when they sell their American properties. S. tax withholding requirements and whether to file a tax return or not. S. gain. Under American rules, there is a requirement to withhold tax on the proceeds from the sale (discussed further in this chapter).
The Canadian Snowbird in America: Professional Tax and Financial Insights into a Temporary U.S. Lifestyle by Terry F. Ritchie