Moving from California to Victoria – Need help planning! Key Points The couple is preparing to move from California to Victoria, BC, with a focus on financial planning. They need guidance on converting a 401(k) to an IRA and potentially creating a ROTH IRA. Reviewing and simplifying investment accounts before moving is crucial to avoid…
American in Canada Selling Their Home As Canadian housing prices have risen significantly over the last few years the tax consequences of selling your primary home for both Canadian and US purpose can be significant. We will discuss below the main cross-border tax consequences of selling your principal residence and how to potential reduce any…
The Biden Tax Plan: Implications for Individuals It is safe to say that the 2020 Presidential Election was on personality and relatively light on policy details. But with the January 20th inauguration approaching quickly, here is an overview of what we know about the tax plan that will likely come into play in the first…
US Resident Cashing Out RRSP Question Hello Phil, I found your commentary very helpful as I have been considering cashing out my RRSP and reinvesting in the US: https://www.hutcheson.ca/tax-on-rrsprrif-payments-after-moving-to-the-u-s/ I am Canadian living in the US and have been here along with my wife since XXXX. At the time we left our RRSP’s and let…