For those who moved from US to Canada, can we trade stocks and options using CS or Fidelity or Robinhood (RH being the last option) or is there another platform? What are the difficulties in keeping existing positions?
I believe bigger brokerage should be fine. Like CS or Interactive Broker. Not sure if Fidelity has that too
If you are in Canada. Can you let me know how much Amazon pays in Canada? Might have to move
Short answer in blind setting is no, it will not impact. Always go by below thumb rules: Money — IRS cares Immigration — USCIS Roughly unless and until you caught up in red flag stuff, one doesn’t interfere in other. But If you go to Canada n keep your RH rolling, by end of financial year you will get 1099-D and other stuffs like routine and primarily there you will end up in paying your respect to IRS. ( what if not? Well, try it!)
How about using other trading platforms like CS? You mean we end up paying taxes in Canada right? Or do we have to pay in US too?
You have to pay based on those 1099-D and other forms. I do not know about CS but fidelity and I guess every big platform generates those forms just like your company’s RSU/vested are maintained by operating platform. You can say what if you ignore it and do nothing, for that you will have to pray that you don’t end up in IRS audit.
Lol really? That’s not the solution but thanks. What I am wondering is if we can use CS or not.
CS account needs to be changed to a "international account" for taxation purposes. 30% flat tax deduction at source on foreign investment incomes (dividend for eg). That is all you need to do. Just call them up. It's a easy process. Fidelity will likely have the same process but I'm not sure. Robinhood does not allow operation from outside US.
So wait, is 30% the only tax you need to pay on incomes through profits and dividends? Or would there be any other additional tax? Thanks for the answer by the way. Have you done this?
Your tax status depends on whether you are a resident alien or non resident alien. 30% is for NRA on most occasions unless your country of residence have a tax treaty with US. For most ppl with fixed income sources, there won't be filling of tax returns either. I'll be doing it in a month. https://www.irs.gov/individuals/international-taxpayers/nonresident-aliens
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How bad is it in meta?
I don’t think so. Robinhood will eventually lockdown your account if they see multiple logins outside over an extended period of time.
How about CS?
So get a VPN?