Serbinski Accounting Firms

I am a US Resident with US earned income and Canadian Pension and RIF income. I pay 15% Canadian Withholding Tax on that income and report it on my US taxes with a corresponding foreign tax credit. I was previously converting the CAD funds to USD and transferring them to a US bank account, but with ...

Thanks for the quick response and great advice nelsona. My effective tax rate is over 15%, but only by a few points so I would have trouble using all of my tax credits. I'll look into the CPP option (which I never thought of). One question - would 10% a year withdrawal from a RRIF qualify for 15% WH...

My wife and I are US Residents with RRSPs in Canada. I know if we take lump sum withdrawals there will be a non-resident 25% withholding tax, but I believe if we convert to an annuity the withholding tax will only be 15%. Are there any restrictions on the term of the annuity or do our ages (58) have...