Serbinski Accounting Firms

Hi - I'm moving to Canada this year from the US. I will be rescinding my green card at that point. Do I need to transfer my investment accounts (holding ETFs) from a US broker to a Canadian one? My US broker has a dual license to operate in both countries.

Sorry I’m trying to understand. We’ve been filing jointly and my understanding is that it’s based on 5 year average. How do I do apples-to-apples view to ensure I’m below threshold?

Thank you Nelson!

I see that the individual tax liability threshold for US exit tax is a 5 year average of $171k in year departing US. I can’t seem to find the joint filling threshold. Nelson - can you confirm ?

If I minimize my US income in a given year, wouldn’t my US tax rate be lower? I’m trying to understand if I should time accordingly the Roth conversion from a tax standpoint.

Do you declare 401k Roth investments similar to Roth IRA upon return to Canada? I have 401k Roth investments with existing employer that I will not be able to rollover and wondering if treatment is same.

I’m also a green card holder and plan to renounce it. Am I only taxed in US pre-renounciation in the tax year?

I’m planning on moving from US to Canada in next 16 months. I have some flexibility in move timing. Are there any timing implications that I should consider? I was thinking a move earlier in the year would be beneficial as I have some traditional 401k money to convert to Roth IRAs (from a previous e...