Hi all,
Status:
I'm a Canadian resident, who moved to NY State as a student--F1 VISA, and I am now working here, in New York city. I am 26 and didn't work, just took loans, however I received a grant from my university.
I started working in May, and will make a lot of money, but less than the loans I will take out.
Question:
Do I have to file a return? I've been in NYC since August--Am I a resident for income tax purposes?
How can I limit the withholding from by my employer?
Can I claim residential credits?

If this is too complicated I would like to locate in-person two things:
1. tax advice (someone who specializes in Canadian/American financials).
2. loan interest management advice
Is this your forte, if not who can I contact?
How much should I expect to pay?
Thanks,
Kwame

Yes, you must file the tax return, if your income exceeds the filing requirements. The loan payment is non deductible. Only the loan interest payment is deductible if it is education loan. For federal, you will file nonresident tax return.
For student loan deduction, read:
Your U.S. Tax Return: Student Loan Interest Deduction (http://taxipay.blogspot.com/2008/03/student-loan-interest-deduction.html)

For NY you are part year resident for the year (2007?). Your income is not subject to FICA taxes (social security 6.2% and Medicare 1.45%).

I don't think that U.S. Canada tax treaty provides for any deduction for income in the U.S. However, you should read
Publication 597, United States–Canada Income Tax Treaty at Internal Revenue Service (http://www.irs.gov)

If you are still under the F-1 visa (you are working on either CPT or OPT in NYC), by law you are NOT a NYC resident. That changes the day you change visa status from a student (F-1/J-1) visa to a work (L-1/H-1/H-1B) visa.

If you want more detailed advice, email me at the address below.