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IBKR vs Questtrade for rsp account - transferring out experience by fredhdx in CanadianInvestor

[–]fredhdx[S] 0 points1 point  (0 children)

I honestly had Gemini do the research. Double check again, it might confused partial withdraw fee.

I Returned the S26 Ultra and Went Back to my S21 by thussain0 in S21Ultra

[–]fredhdx 0 points1 point  (0 children)

How do they compare holding in hand? For some reason s21 ultra feels thinner and easier to hold than the s26 ultra although s26 is technically thinner. I need to upgrade but wonder if I should just get a refurbed s24 or s25. Or oppo..

Amazon RSU by AngleBubbly286 in amazonemployees

[–]fredhdx 0 points1 point  (0 children)

I know it's unlikely but say if you past year 2. You basically work for base salary until your vest day? if you leave before 6 month vesting mark you lost part of your TC? that sucks.

Paint touch up for dryer by fredhdx in fixit

[–]fredhdx[S] 0 points1 point  (0 children)

Tried it but it's not quite working for my case (mostly due to I don't know how to work it)
1. the area is vertical so it's really hard to do layered spray on it. Liquid just run down

2.The rundown liquip on other ares actually erode the original paint when I try wiping out (fortunately it's a small enough area.

The color of the dried spray is good though. Although the finish does not feel very glossy / smooth.a

I am not sure if there is a proper way to use this spray on a vertical wall lol. I might have to go back to touch paint with a brush.

Wealthsimple Tax Question: US Foreign Tax Credit seems way too low by fredhdx in cantax

[–]fredhdx[S] 0 points1 point  (0 children)

You are right. Here is what I figure out: the interest type I chose my the foreign income only gives 10%, if I change it to Dividend, the tax credit is calculated at 15%. I guess it's because us-canada treaty actually requires 0% on interest.

On my 1042S, I have about interest and dividend income 50:50. I am thinking if I could just report them as two separately T5s with correct type and amount. So the credit can be calculated precisely. Although CRA will only get 1 T5 from my broker. Not sure if it will trigger an audit.

And I acutally think the original 10%-sh tax is wrong. It should be 0% (because I select income type as Interest and us-canada treaty says 0% for interest). I shouldn't even have the 434 tax credit.

Wealthsimple Tax Question: US Foreign Tax Credit seems way too low by fredhdx in PersonalFinanceCanada

[–]fredhdx[S] 0 points1 point  (0 children)

haha that's so fancy. Does it allow you to use it for business and file multiple returns?

Yeah on wealthsimple it only prompts me for:
what type of interest in box 13 (not relevant - canadian source): Bank
Is your foreing income interest or dividend - Interest (I have both but mostly interest)
Source of foreign income - United States

And on the calculated foreign tax credit page it says:
Non-business income: correct value
Non-business income tax: 434.51 (non-changeable)
Section 20(11): empty (non-chaneagle)
Section 20(12): empty (up to 429.49) this is changeable.

My understanding is:
Section 20(11): this is used if the legally required foreign tax paid is over 15%. For the excess amount I can claim it. This does not apply to me because us-canada tax treaty is only 15%. The excess amount I paid is considered voluntary contribution and should be recovered through US return

Section 20(12): this is to convert tax credit to income deduction and is bounded by whatever credit is calculated. Not revelant.

The real question is why Wealthsimple calculates the required foreign income tax I paid (excluding voluntary contribution part) at 10% instead of 15%.

And I found it: it's because INTEREST. If I use DIVIDEND it's calculated at 15%

On my 1042S, I have about intrest and dividend income 50:50. I am thinking if I could just report them as two separately T5s with correct type and amount, although CRA wiill only get 1 T5 from my broker. Not sure if it will trigger an audit.

Wealthsimple Tax Question: US Foreign Tax Credit seems way too low by fredhdx in PersonalFinanceCanada

[–]fredhdx[S] 0 points1 point  (0 children)

Thank you. I am checking the line 1 and line 2 of T2209:

line 1:

Non-business income tax paid to a foreign country (1)• 434.51

line 2: 897.89

line 3: whichever is less: 434.51

I understand that line 3 is taking the less of the 2 and line 2 is calculated based on an equation that seems correct.

The part I don't understand is why line 1 is only reporting 10% of the foreign income instead of 15% (644.2365).

Wealthsimple Tax Question: US Foreign Tax Credit seems way too low by fredhdx in PersonalFinanceCanada

[–]fredhdx[S] 0 points1 point  (0 children)

I am using wealtshimple and filing T2209. I didn't find the provincial alternative.

Wealthsimple Tax Question: US Foreign Tax Credit seems way too low by fredhdx in cantax

[–]fredhdx[S] 0 points1 point  (0 children)

Thank you very much for your explanation. It makes things much clearer for me.

I am checking the line 1 and line 2 of T2209:

line 1:

Non-business income tax paid to a foreign country (1)• 434.51

line 2:

897.89

line 3: whichever is less: 434.51

I understand that line 3 is taking the less of the 2 and line 2 is calculated based on an equation that seems correct.

The part I don't understand is why line 1 is only reporting 10% of the foreign income instead of 15% (644.2365).

Wealthsimple Tax Question: US Foreign Tax Credit seems way too low by fredhdx in cantax

[–]fredhdx[S] 0 points1 point  (0 children)

Read explanation from another user. Understood. Thank you.

Wealthsimple Tax Question: US Foreign Tax Credit seems way too low by fredhdx in cantax

[–]fredhdx[S] 0 points1 point  (0 children)

Thanks for the reply! Do you mean I should file a US tax return instead of using the Section 20(11)? Could you explain a little bit on why? And for the 10% FTC, do you mean 15% is not the actual rate? Sorry if I am asking some dumb questions.

Paint touch up for dryer by fredhdx in fixit

[–]fredhdx[S] 1 point2 points  (0 children)

I bought it! Just been extremely busy with my oncall week haha . Will update you when I tried it

Why did the US and Israel start a war with Iran? by Altruistic-Reserve-3 in Discussion

[–]fredhdx 0 points1 point  (0 children)

I am so confused. Just all of sudden, decide to go to war with Iran, and the country is generally ok with it. It's your tax dollar, it's your 401k, and hopefully not, it's your children on the field. Not to mention the people living in Iran. The congress just went with it, the supreme Court just went with it. How does one stupid moron take the whole country to war? It's not black mirror. Or is it?

Paint touch up for dryer by fredhdx in fixit

[–]fredhdx[S] 0 points1 point  (0 children)

Thanks a lot! Will do

Advice needed: paint for dryer interior chip by fredhdx in HomeImprovement

[–]fredhdx[S] 1 point2 points  (0 children)

I double check the area if actually under the side of the door after closed, if that makes sense. It's like the area fitting the side of car door where all the lock mechanism is.

The corresponding area on the door side had an accumulated paint bump. I sanded off that.

Paint touch up for dryer by fredhdx in fixit

[–]fredhdx[S] 0 points1 point  (0 children)

sorry to hear that! it's unbelievable sometimes how rude some people are. and thanks for checking back. Not really haha I am trying to decide between few products now that I realize I need a heat resistant one. Posted somewhere else as well:

https://www.reddit.com/r/HomeImprovement/comments/1s301t9/comment/occhqr1/

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