Moving to Canada with LLC and IRA – lots of tax questions Question Hi Mr. Hogan Thank you for taking the time to answer my questions. First let me give you a little background information. I am a dual citizen currently living in the state of Vermont. I plan to move to BC at this…
ROTH IRA for Canadians and Newcomers to Canada Key Points Roth IRAs offer tax-free growth and withdrawals in the U.S., but Canadians face unique tax considerations. The Canada-U.S. tax treaty may protect Roth IRA earnings from Canadian taxation if handled properly. Reporting a Roth IRA on Canadian tax returns is essential to avoid penalties and…
Make sure to plan before moving to Canada – Ep.22 On episode #22 of Crossing the 49th Podcast we discuss why it’s important to make sure to plan before moving to Canada. 🎙️🇨🇦 Hello, dear readers! In the latest episode of “Crossing the 49”, our host Newsglobal delves into the intricacies of tax and…
Moving to Canada from Florida – Should I keep our investments with our US broker? Key Points Moving to Canada from Florida requires careful consideration of whether to keep investments with a U.S. broker. U.S. brokers may face restrictions in managing accounts for Canadian residents, potentially limiting investment options. Keeping investments with a U.S. broker…
Moving to Canada with ROTH IRA, IRA and US investments at Vanguard Key Points Moving to Canada with a Roth IRA or traditional IRA requires careful planning to avoid potential tax issues in both countries. Canadian residents must report U.S.-based investments, including those at Vanguard, on their Canadian tax returns. The Canada-U.S. tax treaty may…
Moving to Canada with Trusts, IRAs and Real estate issues Key Points Moving to Canada with trusts, IRAs, and real estate involves complex tax considerations in both the U.S. and Canada. Trusts may be subject to different tax treatments in Canada, potentially leading to unexpected tax liabilities. IRAs can continue to grow tax-deferred, but distributions…
How to plan for investments before moving back to Canada Question Hi Phil My husband and I are part of your Facebook group for Americans in Canada. We have been following the group for some time and are planning our move back to Canada in the coming year. We both moved down to California 20…
Moving to Canada, working a bit, then retiring Question Hi Phil I came across your website after watching some of your videos on moving to Canada with investments. Quite helpful videos considering how little information there is about our situation online. Let me outline out situation and you can tell me if you can help…
Moved to Canada with 401k accounts – What are my options? Question Hello Phil, I’m a follower of your Youtube channel and would like to thank you for the educational videos you share. It is very informative and the content is delivered in an easy to understand manner. I have a query regarding 401k accounts. My…
Receiving and inherited ROTH IRA in Canada Question Hi Phil I live in Ottawa and i just got word that I will be receiving and inherited ROTH IRA from my late Grandmother in the next few months. I actually didn’t know what a ROTH IRA was until I looked it up. It’s not massive, but…
ROTH IRAs in Canada – Episode 8 On episode #8 of Crossing the 49th Podcast we discuss US ROTH IRAs and how they relate to Canadian tax planning and required compliance. Proper planning for your ROTH IRA accounts is essential before you move to Canada. Some if not all planning opportunities will cease to exist…
Cross-Border Tax and Investment QA – Episode 6 Note: apologies for the audio quality on this one. It will be fixed on the subsequent podcast. On episode #6 of Crossing the 49th Podcast we walk through some common cross-border tax and investment questions that clients have. Question 1: How do I report my US IRA…
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…
Moving to Canada with Large ROTH IRA Question Hi Phil I stumbled across your site after researching some issues on google. I’ll be moving to Vancouver for work at the end of the year from Texas and I need some help with my US investments. A few years ago I invested in some very speculative…
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…
Thinking of retiring to Canada – Tax and Investment Questions Question Hi Phil I found your contact info through the facebook group for Americans in Canada. Great group by the way, we’ve learned a lot for far. My wife and I (she’s Canadian and I’m American) will be moving to Canada in late 2021 and…
ROTH IRA and TSFA Questions Question Hello! This is Erin from the recent question about what to do with American investments. A little about me: I make 12k USD per year through remote work for an American company. I make about 30k Canadian self employed income. Is it possible to invest in both TFSA and…
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…
Cross Border Tax Topics – The Wealthy Life Appearance A big thanks to Sybil Verch and the crew at the Wealthy Life for having us down for the show. Although the segment was relatively brief we were able to touch on a few key cross border tax and investment topics: General Tax and Compliance Considerations…
ROTH IRA for Canadians and Newcomers to Canada This post was created to give some information, perspective and strategies to those Canadian residents that currently hold ROTH IRA accounts either within the US or in Canada (through a designated Canadian broker able to manage US assets). If you need help moving your IRA to Canada…