Take Home Pay for 85k /year
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Posts: 2873
Location: Western Hemisphere
Posted on: 05-01-11 23:27:42
Location: Western Hemisphere
Posted on: 05-01-11 23:27:42
Quote:
Originally posted by shekars
Hi,
What will be the take home pay in Houston TX if the annual salary is 85K ? What is the tax status in USA ? for eg Married Separate or Married Joint. My family will be in Canada when I am working in US. My wife will not be working during that period in Canada. I have two kids.
Shekar
Your tax situation depends on your residency for tax purposes. There is a possibility you might be still a tax resident of canada since your wife and kids will live in canada. If that is the case, you cannot file a joint return in the US and have to file a 1040nr. Get your tax situation clarified through a reliable source rather than assuming stuff through these forums.
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Dimple2001
You may want to use this link for all your prelim fact finding.I think they are reasonably priced as well.
http://www.visataxes.com/residency_test.php
http://www.visataxes.com/residency_test.php
Cheers and all the best.
Quote:
Originally posted by Jack109
Shekarji,
Please start from here.
http://www.visataxes.com/residency_test.php
If you are rick like Smiley then you can use http://www.centa.com/
It is very hard to live for extended period without family.After 6 months I am done eating frozen burritos in Nevada at least and am heading home with the first break I get.
whats a rick ?
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We will find a way or we will make one
Quote:
Originally posted by dimple2001
Quote:
Originally posted by shekars
Hi,
What will be the take home pay in Houston TX if the annual salary is 85K ? What is the tax status in USA ? for eg Married Separate or Married Joint. My family will be in Canada when I am working in US. My wife will not be working during that period in Canada. I have two kids.
Shekar
Your tax situation depends on your residency for tax purposes. There is a possibility you might be still a tax resident of canada since your wife and kids will live in canada. If that is the case, you cannot file a joint return in the US and have to file a 1040nr. Get your tax situation clarified through a reliable source rather than assuming stuff through these forums.
Since your wife and kids live in Canada you will be considered a cdn resident for tax purposes ( does not matter how many days you stay in US) . Whatever taxes you give US , 1040, 1040 NR etc you will end up paying cdn taxes on your US income in Canada. Whatever you pay to US will be a foreign tax credit on your cdn taxes and you will pay the difference to Canada
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We will find a way or we will make one
If u are a canadian citizen then u have to report and pay taxes on world income in canada, due to usa canada treaty u will pay usa taxes and then difference between canadian and usa taxes in canada .
If u are a PR there is no such rule, u only pay tax in us..
Since ur dependants are not living with u i dont think u can use them as dependants and u cannot file married joint only married seperate..
Quote:
Originally posted by Smiley
Quote:
Originally posted by dimple2001
Quote:
Originally posted by shekars
Hi,
What will be the take home pay in Houston TX if the annual salary is 85K ? What is the tax status in USA ? for eg Married Separate or Married Joint. My family will be in Canada when I am working in US. My wife will not be working during that period in Canada. I have two kids.
Shekar
Your tax situation depends on your residency for tax purposes. There is a possibility you might be still a tax resident of canada since your wife and kids will live in canada. If that is the case, you cannot file a joint return in the US and have to file a 1040nr. Get your tax situation clarified through a reliable source rather than assuming stuff through these forums.
Since your wife and kids live in Canada you will be considered a cdn resident for tax purposes ( does not matter how many days you stay in US) . Whatever taxes you give US , 1040, 1040 NR etc you will end up paying cdn taxes on your US income in Canada. Whatever you pay to US will be a foreign tax credit on your cdn taxes and you will pay the difference to Canada
Posts: 2873
Location: Western Hemisphere
Posted on: 07-01-11 10:26:55
Location: Western Hemisphere
Posted on: 07-01-11 10:26:55
Quote:
Originally posted by dudewheresmycar
If u are a canadian citizen then u have to report and pay taxes on world income in canada, due to usa canada treaty u will pay usa taxes and then difference between canadian and usa taxes in canada .
If u are a PR there is no such rule, u only pay tax in us..
That is not correct.
Tax residency is what dictates your tax status, not your immigration or citizenship. Determining whether you are a tax resident depends on several factors and need to be carefully evaluated, especially when a spouse lives in Canada while the other does not.
So, a canadian citizen or a PR living outside of Canada with no ties to Canada (as defined by the tax rules) is a non-resident for tax purposes and hence does not need to declare worldwide income.
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Dimple2001
Quote:
Originally posted by dimple2001
Quote:
Originally posted by dudewheresmycar
If u are a canadian citizen then u have to report and pay taxes on world income in canada, due to usa canada treaty u will pay usa taxes and then difference between canadian and usa taxes in canada .
If u are a PR there is no such rule, u only pay tax in us..
That is not correct.
Tax residency is what dictates your tax status, not your immigration or citizenship. Determining whether you are a tax resident depends on several factors and need to be carefully evaluated, especially when a spouse lives in Canada while the other does not.
So, a canadian citizen or a PR living outside of Canada with no ties to Canada (as defined by the tax rules) is a non-resident for tax purposes and hence does not need to declare worldwide income.
That is true but it is also true that 99.9% you will have ties with Canada if u have either PR or Canadian passport. If any of the following is true then you have ties with Canada and hence pay tax on worldwide income:
1. Health card
2. Driving license
3. Apt or house [Even a vacation home develops a tie]
4. Car or furniture even if it is kept in a storage room.
5. Spouse or Common-law partner in Canada
6. Dependents
7. Canadian bank account,credit cards or security accounts
... and more
This means once you hold PR or Canadian passport, you develop ties with Canada. Practically I don't see anybody can easily break these ties unless you landed with PR and returned back next day. The concept of ties is all meaningless.
