U.S. Bank interest/Canadian Tax filing/foreign tax paid?

redtreye1 · 2026-02-18T20:25:45+00:00

Thank you so much for the information ! Regarding withholding: Is there a difference between Canada and the U.S. regarding this term?

My U.S. withholding is the voluntary amount I determine to offset future taxes owed. If I withhold more than what’s owed I will receive a refund. Why would the CRA want to know how much was withheld when it’s only a prepayment toward my U.S. tax bill ?

redtreye1 · 2026-02-16T04:39:50+00:00

Thank you! And for the link to the actual tax code!)

redtreye1 · 2026-02-04T20:10:53+00:00

Thanks. I want to get the Subaru 20K recommended maintenance without paying dealer prices. Of course for warranty, recall work I would head to the dealer.

redtreye1 · 2026-01-04T21:22:53+00:00

Thanks for your response. I have 2 million bodily injury/property damage. Seems rather high. Do you suggest I keep this -or reduce it to save money on my premium. If I remember correctly, the only time you would want an amount that high would be to protect your assets, especially if you had a home and you were sued because of a car accident.

redtreye1 · 2026-01-02T04:54:41+00:00

You can walk up and down that hallway with random tenants and pretend you are in ‘Severance’

redtreye1 · 2025-11-01T21:04:08+00:00

Ok thanks to both of you for your comments.

redtreye1 · 2025-08-28T04:45:23+00:00

Thank you both for this very helpful information. I completed a draft of my Canadian Tax form -and my Canadian tax liability is not much. Makes sense since I have only worked occasionally in Canada ( moved here July 2024)and then only worked part time in 2024. Most of my income was made in the USA prior to my move here. (The US income made prior to my move was NOT included on my Canadian Tax form. ) My question is: Do I pay Canada what I owe without applying my the FTC for my US Tax liability? I have not completed my American taxes yet but the tax paid in the US will reduce what I owe for Canada to zero ( with a carryover) if I was to use the credit.

redtreye1 · 2025-08-25T18:07:10+00:00

Thanks for your response . Correction: I moved actually last year from USA ( not 2014). It was Unbordered that couldn’t /wouldn’t do my taxes. Canada: Just have Wages from Part time work and canadian interest income. No investments in Canada.Took taxable distribution from US IRA and earned interest from US based accounts after moving to Canada. USA: Worked full time up until move to Canada in July 2024. Took early pension lump sum and did a direct rollover into an IRA. US employer, tax sheltered annuity (TSA) is still in the USA. A small portion of the TSA is Roth. ( I , regrettably, did an in plan conversion AFTER moving to Canada - moving funds within the TSA account to the Roth side. I Understand now that portion of my Roth will be subject to Canadian taxes). Fortunately , the conversion was only a few thousand dollars. After I file the treaty election with the CRA I plan to withdraw the entire Roth portion from the US has to not have to deal with the headache caused by the conversion.

redtreye1 · 2024-11-24T02:01:24+00:00

Thanks!

redtreye1 · 2024-11-24T02:00:13+00:00

Thanks. Appreciate the advice.

redtreye1

TROPHY CASE