RRSPs, RRIFs, TFSAs, and RESPs on a US return, IRAs and 401(k)s in Canada, CPP, OAS, and Social Security across the border, the totalization agreement, and treaty withholding rates.
25 guides, each written by a CPA licensed in the US and Canada.
You can hold US stocks in a TFSA, but the 15% US withholding tax on dividends is trapped inside the account. There is no foreign tax credit to recover it.
Cross-BorderIf you worked for a Canadian employer and earned a pension (defined benefit or defined contribution), and you now live in the US.
Cross-BorderTaking the commuted value of a Canadian employer pension when leaving for the US creates tax in both countries. Covers treaty provisions, foreign tax.
Cross-BorderA US person with a Canadian RRSP faces a mismatch between how Canada and the US treat the account. Canada defers tax on RRSP contributions and growth.
Cross-BorderA Canadian resident who receives US Social Security benefits reports only 85% on the Canadian return. The treaty and ITA 110(1)(f) determine the actual.
Cross-BorderHow RESPs work across the US-Canada border: trust reporting, PFIC exposure, CESG grants, withdrawal tax, and planning strategies for cross-border families.
Cross-BorderUS self-employment tax is a US-person exposure: it generally reaches US citizens and US residents wherever they live. Covers key rules, filing.
Cross-BorderUnder Article XVIII(1) of the Canada-US treaty, OAS paid to a US resident is taxable only in the US. The 15% withholding applies.
Cross-BorderThe US then treats them as if they were US Social Security, so at most 85% of the total lands in your US income. Covers key rules, filing requirements,.
Cross-BorderFor a Canadian resident who isn't a US citizen or green-card holder, 15% applies only where the payment is periodic; a pre-tax lump sum stays at 30%.
Cross-BorderNo state may tax the retirement income of someone who is neither its resident nor its domiciliary under 4 U.S.C. Covers key rules, filing requirements,.
Cross-BorderOld Age Security (OAS) is a monthly pension paid by the Canadian government to most Canadians aged 65 and older, regardless of work history.
Cross-BorderThe higher-income spouse can allocate up to 50% of qualifying pension income to the lower-income spouse, reducing the family's combined tax.
Cross-BorderWhen a beneficiary of a Registered Education Savings Plan (RESP) enrolls in a qualifying post-secondary program. Covers treaty provisions, foreign tax.
Cross-BorderYes, in most cases. A Roth IRA held by a Canadian resident stays tax-free in most cases, and that outcome rests on three separate things rather than one.
Cross-BorderWhen to convert your RRSP to a RRIF, how minimum withdrawals are taxed in both countries, the Part XIII exemption on minimums.
Cross-BorderA side-by-side comparison of the RRSP and 401(k) for cross-border taxpayers, covering contribution rules, tax treatment, and which account to prioritize.
Cross-BorderRSP and RRSP both refer to Canada's registered retirement savings plan. The difference in naming, the US tax treatment, and the cross-border complications.
Cross-BorderWithout the Totalization Agreement, a worker who crosses the Canada-US border could owe social security contributions in both countries.
Cross-BorderThe Tax-Free Savings Account (TFSA) and the Roth IRA are the closest equivalents in their respective tax systems. Covers key rules, filing requirements,.
Cross-BorderThe WEP reduced your Social Security benefit if you received a pension from employment not covered by Social Security (including CPP).
Cross-BorderUS Social Security paid to a Canadian resident is taxable only in Canada under the treaty. Canada includes 85% in income with a 15% deduction.
Cross-BorderHow the totalization agreement prevents double FICA and CPP contributions, assigns coverage to one country, and lets you combine work credits for benefits.
Canadian TaxAn RRSP is a tax-deferred retirement account in Canada. Contributions are deductible, growth is sheltered, and withdrawals are taxed as income.
Cross-BorderIf you worked in both Canada and the US, you may be entitled to benefits from both CPP and Social Security. your health.