Moving from Texas to BC – Tax and Investment Questions Question Hi, I hope this email finds you well. I came across your website while searching for advice on moving from the U.S. to Canada, and I really appreciate all the helpful content you’ve shared. I have a few questions about my specific situation and…
IRA or RRIF Withdrawals? Question If I’m thinking of taking distributions from my IRA or RRIF in excess of my required minimum distributions which should I pull from first? My RRIF or IRA? Answer I get this question a lot, and of course, like all things tax and investment related the answer to the question…
5 important changes to make to your US investments before moving to Canada As we all know, tax rules between Canada and the US ca be quite different. Not properly assessing your US investments before moving to Canada can result in often terrible tax inefficiencies. Outlined below are 5 important investment changes that should be…
Retiring to Canada with investments and large pension Question Hi Phil I got your email from my brother you that you helped when he sold his Victoria rental condo a few years back. He said you were very knowledgeable about cross-border matters and that you could probably help with my questions, so here it is……
Moving to Canada after selling US business Question Hi Phil Was referred to you by my US CPA, XXXX. I don’t think you know him, but he did find you online. I have some important questions that I’m having a hard time finding answers to. Hopefully you’re the right guy to help. My husband and…
Should I convert my US IRA to my RRSP? Question Thanks for the help earlier. Before she proceeds with finding an advisor who can manage her us-registered IRA, she wants to confirm the following with you. Can you confirm that it is not advisable for her to convert a $700K IRA to an RSP, because…
Should I Transfer my IRA to my RRSP? Question Hi Phil I had this question from XXXXX at RBC, but she said I should touch base with you to review what our options might be. I have a IRA in the US (around $700,000) and a smaller RRSP up here in Canada with RBC. I…
Income splitting a US IRA in Canada Question Hi Phil I found your website via youtube after watching some of your videos on IRAs. Great job on the videos, looking forward to seeing more. I don’t think question was addressed so I thought I would send you a quick email to see if I could…
Should I transfer my US inheritance to Canada? Question Hi Phil I found you on your expat Youtube channel after doing some googling around to find some answers to some questions that I had. I’ll be receiving an an inheritance from a relative in Texas some time in the next few months. Most of the…
Canadian Tax on Inheritance from the US? Question Hi Mr. Hogan My Mother recently passed away (she lives in the US and I live in Canada) and I’ll be receiving a sizable inheritance some time next year once the estate is fully resolved and wound up. I’m really worried about how much tax I’ll need…
How to transfer US investments to Canada, including ROTH IRA Question Hi Phil We spoke a few years back when my wife and I were planning on moving to Victoria. We put those plans off for a few years but now we’re committing to actually make the move next year. To give you a recap…
Moving to Canada with IRA, ROTH IRA and Investments to retire Question Hi Phil My wife is a member of your Facebook group and she thought you would be the perfect person to talk to with respect to our situation. My wife and I still be moving to Victoria early next year. Our kids are…
Inherited IRA from Brother in Texas Question My husband and I live in a small town in rural Canada. In 2019 my husband’s brother, who lived in Texas, passed away and left my husband as beneficiary of an IRA account. Now we are in a frenzied dilemma! Not sure what to do – we have…
Should I move my investments to Canada? Question Hi Phil I’ve just recently joined the Americans in Canada Facebook page and have been following your posts. All good stuff. We moved to Kelowna last year from California and have a few questions related to our investments in the US. I’m a dual citizen and my…
Disclosure of ROTH IRA for Canadian Question I am a Canadian citizen living in Toronto and my wife is a U.S. citizen and living in Toronto with PR status. Below is the situation wrt Roth IRA disclosure: Status: • Due to lack of awareness (assumed all retirement accounts are the same and therefore not required…
Ultimate Cross Border Investment Guide We get a lot of questions regarding inheritances between Canada and the US. Whether it’s a Canadian client receiving an inheritance from a US relative or a US resident receiving an inheritance from their Canadian relatives, the tax intricacies can be significant and difficult to navigate. Outlined below are some…
IRA, 401k and US Investments for Canadians (FAQ) We meet with a lot of clients who are looking for some guidance on how to handle their US investment accounts. Whether they have moved from the US or inherited US assets from family members these individuals often have the same questions, concerns and tax planning issues….