Serbinski Accounting Firms

much appreciated!

no other tax or cross-border issues, right?

I am a US Citizen, now living in Canada. Eventually I will become a Canadian citizen (and maybe renounce US citizenship). Anyway, my company offers a DCPP where I can contribute up to 10% and they will match 4% (they match 1-to-1 for the first 4%). Is there a US-Canada tax treaty that results in fav...

Thanks. Appreciate the insight. I didn't know there were funds that provided PFIC info. Yes, I would expatriate before crossing the thresholds that trigger the mark to market taxes. --- New question: If I directly purchase a property (rental, mobile home park, self storage, etc), and hold it under m...

I recently moved to Canada and am looking to invest. I like asset classes like self storage and mobile home parks via syndicated deals (crowdsourced funds). I'm very early in my research (lots of other things to do), but would these types of holdings be considered PFIC's? For examples, companies/off...

@dualblues:
I'm curious if you made any headway on this topic. I am also considering purchasing Canadian rental property while being a US Citizen and want to understand the PFIC implications.

I guess I was thinking that since I will still owe US taxes (via tax treaty), a portion would still go to SS. But, I realize that my Canadian taxes will always control over my US taxes, so the US is not actually receiving tax income from me.

Thanks for the clarification.

When you are a Canadian tax resident and US Citizen, how does the US compute your earned wages for the purposes of social security? Will it use CAD wages, USD after converting CAD to USD, or something else?

I'm a US Citizen and will be moving to Canada later this summer and will become a tax resident of Canada at the time of the move. How does Canada treat income/distributions that are held within a trust? I am considering setting up a grantor trust, which I would have to pay taxes on in the US as the ...

My family and I are going to move to Canada this summer. We are US Citizens and residents. Permanent Residency in Canada isn't likely until 2023, but for tax-purposes, I believe Residency will be considered to start in 2022 (I need to dig into NAFTA agreements for this). Anyway, I have recently star...

I'm looking to do a rough comparison for the sake of estimating taxes in Canada if/when my wife and I move to the country. In the US, when you file taxes jointly, your tax brackets now double compared to filing singly. My understanding for Canadian taxes is that you can only file singly and if you h...

from this site: https://thunfinancial.com/home/american-expat-financial-advice-research-articles/us-citizen-and-long-term-resident-expatriation-look-before-you-leap/ “Covered Expat”: The Tests and the Exception In addition to the immigration and tax filing processes mentioned above, a one-time exit ...

nelsona:
sorry to dredge up an older thread and i apologize for my newbie level of understanding.
are you saying that, yes, rollover a 401k to a roth ira, and then if it's not touched until retirement (in canada), it won't be taxed?
thanks