I am Canadian.
I will leave Canada and arrive in the US on December 27, 2014 and start working on January 5, 2015 in California.
I have nothing in my TFSA accounts.
I have investments in my RRSP account worth $8,000 CAD
My gross income was $15,000 CAD + $13,500 CAD of EI ~= 28,500
I may only work in California for less than a year.
My strategy is to close all my TFSA accounts and close my RRSP account. Is this a good idea? This would make my tax returns really easy.
Canadian moving to California on TN status
Moderator: Mark T Serbinski CA CPA
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- Joined: Wed Dec 10, 2014 2:51 am
Yes. Normally one would close their RRSP after leaving Canada, but because your income was low for this year you can close it no and pay about the same tax you would pay as non-resident 25%.
Better to be done with it.
Better to be done with it.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing
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- Posts: 2
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