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Bird Talk » Dollars & Sense

Dollars & Sense

Will in the U.S.

Posted date : Sep 19, 2022.

We were updating our will in Canada and our lawyer advised us to make a will in the U.S. as well, because we own property in Arizona. Is this common? If not, we do not want to spend thousands in the U.S. to do a second will.

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U.S. bank accounts

Posted date : Sep 19, 2022.

Keeping a U.S. bank account would be very convenient for us for our spending in the U.S. Can you make any suggestions regarding how we can either keep our Wells Fargo account or such at another bank in the U.S.

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Form 8840

Posted date : Sep 19, 2022.

I’ve just become aware of the form 8840. Do I need to complete the form if I don’t meet the substantial presence test for time in the U.S.?

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Florida car purchase

Posted date : Sep 19, 2022.

I want to purchase a car in Florida; do I need to obtain a Florida driver’s licence?

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Bank interest

Posted date : Jul 21, 2022.

Hi, I received a statement of interest income from my TD Bank in the U.S. − interest earned is .44 cents. Would I have to file income tax in the U.S? If no filing is required, as of what amount earned would I have to file?

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Bring home the proceeds of a house sale

Posted date : May 11, 2022.

I have seen a number of questions and answers regarding selling your home in the U.S., but I haven’t seen any information about subsequently squaring up with the U.S. Internal Revenue Agency. How do I get our money back to Canada?

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Capital losses and gains on Arizona property

Posted date : May 11, 2022.

We bought a personal use home in Goodyear in 2007 and sold it at a capital loss in 2015. We had no U.S.-based income, so did not file a U.S. income tax return. …

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Mobile home sale

Posted date : May 11, 2022.

I have a mobile home in a Florida home park on rented land. If I sell, do I have to file a tax return?

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Selling property in the U.S. if you are not a U.S. citizen

Posted date : May 11, 2022.

I am not sure if Canadians are fully aware that if you are not a U.S. citizen and decide to sell real estate property in the U.S., 15% of the selling price will be deducted from your proceeds and sent to the IRS within 20 days after closing. …

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Car purchase

Posted date : May 11, 2022.

I bought a car in Florida to leave there and purchased auto insurance with Geico. Now, Geico is telling me that they will not renew my policy unless I get a U.S. licence. Are there U.S. insurance companies that do not require a U.S. licence?

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