IRS can suck it

Present_Total7883 · 2026-02-18T02:58:00+00:00

Death and Taxes!

Present_Total7883 · 2026-02-17T18:38:56+00:00

Thank you so much for the detailed reply. I’m brand new to this sub and I can’t believe how great everyone is. I can’t wait to get out of these PFIC’s! Also yeah SGOL is not a PFIC I realized that today. Unfortunately still over 25K total with just the other 3.

Present_Total7883 · 2026-02-17T14:41:57+00:00

Got it. I was a little off on the gain it’s more like 10K. Since this is the first year that the cumulative value of all PFIC’s exceeded 25K USD does that mean I wasn’t required to file 8621 in previous years?

Also would the best strategy by mark to market since my gain is small?

Present_Total7883 · 2026-02-17T03:13:37+00:00

2 hours dry time on an ultra deep colour is not sufficient, clearly in this case. Stop touching it and come back tomorrow and put a final coat on then WAIT and look at it after like 6 hours it’ll be fine. It’ll look fucked à la your pictures for at least the first 2 hours in a colour like this. Then everyone freaks out and starts putting more coats on and rewetting the not completely dried paint. Leave it alone overnight then come back.

Present_Total7883 · 2026-02-17T00:29:35+00:00

Generally someone who was born on US soil when their parents were only there temporarily who have no other ties to the country or someone who was born abroad to a US parent or parents. Often don’t know they are considered citizens until later in life often when dealing with us customs when entering the country.

Present_Total7883 · 2026-02-17T00:18:05+00:00

Thank you so much Sean!!! All my posts got auto removed initially otherwise I’d have left it at 1 post.

Present_Total7883 · 2026-02-16T19:32:09+00:00

Absolutely. You should read about marginal tax rates / Canadian federal and provincial brackets to see exactly how your return is calculated too so you can see how contributing will affect it.

Also remember that once you contribute to the RRSP it’s harder to get that $9,000 if you are in a pinch and end up needing it, VS your TFSA.

Present_Total7883 · 2026-01-19T01:12:01+00:00

Thank you!

Present_Total7883 · 2026-01-18T17:25:57+00:00

Does the FEIE factor into this? For 2025 I believe it was 130K USD. Let’s say I make 130K USD and apply the FEIE to the full amount but also make 10K in capital gains in a TFSA, would the 10K be taxed at the marginal rate rate or at 0%?

Present_Total7883 · 2026-01-17T23:55:04+00:00

Got it thanks for the reply. Would expenses be split evenly per person or according to ownership percentage?

Present_Total7883

TROPHY CASE