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  1. #1
    little_indian_boy is offline Member 510 points
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    Filing taxes during residency in the US, being a Canadian.

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    I wanted to ask how do you file your taxes? Do you file them separately in the US and Canada? I ask, since I am trying to figure out if there is any way to use my Canadian tuition tax credits from SGU which have built up since I filled out the tax tuition credit form (TL11a) every year while at SGU. Any input would be appreciated.

    Thanks!

  2. #2
    kananaskis_girl's Avatar
    kananaskis_girl is offline Super Moderator
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    Quote Originally Posted by little_indian_boy View Post
    I wanted to ask how do you file your taxes? Do you file them separately in the US and Canada? I ask, since I am trying to figure out if there is any way to use my Canadian tuition tax credits from SGU which have built up since I filled out the tax tuition credit form (TL11a) every year while at SGU. Any input would be appreciated.

    Thanks!
    haven't you been using your tuition tax credits every year to get money back from the government? I'll be meeting with my accountant sometime in the next couple of weeks, not sure if before or after grad, but I'll let you know. If you're making money in Canada, then yes, you'll need to file here and in the US as well....I'll keep you posted when I find out something!
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  3. #3
    little_indian_boy is offline Member 510 points
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    Tax credits

    Hey K girl.

    Yes, my folks have been using the max amount of 5k/yr since I started at SGU. But now, there is a possibility I met never generate income in Canada since I might end up in the US for good after residency (who knows?). So I just was wondering how I could make use of the tuition credits for my own income in the US. My parents could keep using the 5k/yr amount but I have about 200k in credit and I doubt they will be able to use it all. My father was thinking that if I file in both places like I would anyway that maybe Canada would some how pay off the taxes that I will be paying automatically to the US gov't and then I would file taxes in Canada and pay Canada's tax rate for my US income and then my tuition tax credits would be applied. That would be great cause then I would be able to use the credit and essentially pay no tax for at least 3-4 residency yrs.

    Appreciate the help and keep me posted. I'll see ya at grad! Hope you're well.

  4. #4
    kananaskis_girl's Avatar
    kananaskis_girl is offline Super Moderator
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    Quote Originally Posted by little_indian_boy View Post
    Hey K girl.

    Yes, my folks have been using the max amount of 5k/yr since I started at SGU. But now, there is a possibility I met never generate income in Canada since I might end up in the US for good after residency (who knows?). So I just was wondering how I could make use of the tuition credits for my own income in the US. My parents could keep using the 5k/yr amount but I have about 200k in credit and I doubt they will be able to use it all. My father was thinking that if I file in both places like I would anyway that maybe Canada would some how pay off the taxes that I will be paying automatically to the US gov't and then I would file taxes in Canada and pay Canada's tax rate for my US income and then my tuition tax credits would be applied. That would be great cause then I would be able to use the credit and essentially pay no tax for at least 3-4 residency yrs.

    Appreciate the help and keep me posted. I'll see ya at grad! Hope you're well.
    hmmm, maybe it's a little different for ON...you may have to contact an accountant to figure out the best solution (trust me, they're worth their weight in gold). I'll ask my mom b/c she has more contact with the accountant on these things, you can talk to her at grad too, maybe she'll have a few ideas. Doing good, just packing up the house and throwing in everything I've accumulated over the years that I don't need! See you soon
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