Search found 5 matches
- Thu Jan 03, 2013 8:43 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian in US on H-1B - 401k/IRA or taxable account?
- Replies: 3
- Views: 2591
Thanks! My 401k and IRA are both Roth for the reasons you outlined. I don't want to be owing the IRS anything when I'm 60! Based on your response, it seems I have two options: Option a) Invest in taxable accounts in the US. Pay tax on dividends. Pay no tax on capital gains in US or Canada upon movin...
- Thu Jan 03, 2013 2:03 am
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian in US on H-1B - 401k/IRA or taxable account?
- Replies: 3
- Views: 2591
Canadian in US on H-1B - 401k/IRA or taxable account?
A bit of a tax planning question for the bright minds of the Serbinski forums! I'm on an H-1B in the US, and I've been maxing out my (Roth) 401k and IRAs. Reading through the forums here, however, I understand that capital gains and losses 'reset' if and when I move back to Canada, in terms of Canad...
- Wed Oct 26, 2011 1:40 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Contributing to both RRSP and 401(k) in the same year
- Replies: 15
- Views: 9693
- Tue Oct 25, 2011 9:23 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Contributing to both RRSP and 401(k) in the same year
- Replies: 15
- Views: 9693
Thanks, both of you! That's a good point about diminished returns on over-eager contributions. Luckily for me, I contributed approximately enough to bring my CAD income down to 30k this year, so I think I'm safe there. On the US side, if I make the maximum 16.5k contribution, my US income will be do...
- Mon Oct 24, 2011 7:35 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Contributing to both RRSP and 401(k) in the same year
- Replies: 15
- Views: 9693
Contributing to both RRSP and 401(k) in the same year
I moved to the US last month on an H1-B visa. Prior to moving, I put ~$25k into an RRSP to offset my Canadian income of ~50k. I'll have 3 months of income this year in the US, totally $54k. I plan on claiming departure from Canada on my tax return when filing my taxes in April 2012, filing an NR-73 ...