Search found 4 matches

by Barlow
Fri Feb 17, 2023 1:29 pm
Forum: Canada / United States Tax & Accounting
Topic: efficient TFSA investment strategy for Can resident US persons
Replies: 7
Views: 1305

Re: efficient TFSA investment strategy for Can resident US persons

Is this information (i.e. the amount of tax withheld on an investment in a TFSA) readily available? Presumably no Canada tax slips are issued for TFSAs. Do all/most Canadian brokers issue 1099s for TFSAs? Or is there an easy way to calculate withholding yourself? Does it make a difference whether th...
by Barlow
Thu Feb 16, 2023 6:19 pm
Forum: Canada / United States Tax & Accounting
Topic: efficient TFSA investment strategy for Can resident US persons
Replies: 7
Views: 1305

Re: efficient TFSA investment strategy for Can resident US persons

Thanks for these replies. I just spoke with someone at RBC Direct, and he was insistent that a filing a W9 with them would only reduce withholding on US source dividends--not eliminate it. If I understood him correctly, his take was that residency is the determining factor--not citizenship. So with ...
by Barlow
Sat Feb 04, 2023 4:01 pm
Forum: Canada / United States Tax & Accounting
Topic: efficient TFSA investment strategy for Can resident US persons
Replies: 7
Views: 1305

Re: efficient TFSA investment strategy for Can resident US persons

I guess I should clarify that I'm making an assumption here that the investor in question won't owe any US taxes (other than possibly withholding taxes) on their TFSA. This is true in my case because my employment income is from Canada and I use the foreign earned income exclusion on my US return (a...
by Barlow
Sat Feb 04, 2023 3:38 pm
Forum: Canada / United States Tax & Accounting
Topic: efficient TFSA investment strategy for Can resident US persons
Replies: 7
Views: 1305

efficient TFSA investment strategy for Can resident US persons

What is the most tax and reporting efficient investment strategy for Canadian resident US persons who hold TFSAs (assuming one accepts the argument that TFSA's are not considered trusts by the IRS)? I'm new to this, but after a lot of reading this is my understanding so far: -Canadian stocks, bonds,...