Sorry not sure if this has been asked before but I am moving down to the US for a job on a H1B visa and am finding this whole tax thing very confusing...I am thinking I will probably be working there for a couple years and then moving back to Canada.
- I have RRSP and TFSAs in Canada, should I be getting rid of these to minimize how much tax I would have to pay? I don't currently have any property in Canada
- Do I have to file in both Canada and the US for taxes? Is there a way to get around the double taxation?
- Are there any tax consequences that I am unaware of?
Moving to the US
Moderator: Mark T Serbinski CA CPA
You should be getting rid of TFSA, no question, before going.
Yous shoul NOT get rid of RRSP before going. Your decision to collapse RRSP should be made after you move.
There aremnay posts on moving year tax. happy browsing.
Yous shoul NOT get rid of RRSP before going. Your decision to collapse RRSP should be made after you move.
There aremnay posts on moving year tax. happy browsing.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing