Serbinski Accounting Firms

[quote="nelsona"]No. Since you informed Service Canada that you are in US (right?), and have filed a departure return for CRA (right?) and have had nothing withheld on your CPP/OAS, you have nothing to report in Canada.

So you know to report this as social security, at the 85% inclusion rate ...

I have collected CPP for a full year in 2016 while fully employed in the U.S. as a U.S. resident/ Canadian citizen.

I understand how I report this income in my U.S. return, however do I need to submit a Canadian tax return to show that CPP income?

As a U.S. resident having received CPP income, I understand that I enter my CPP income in Form SSA-1099 Box 5 on the 1040 (using H&R Block tax return s/w). However is it necessary to send in a paper return with the NR4 form with the CPP income that was received from Service Canada or am I able to ...

You are right. There is not much reduction due to WEP and CPP in my case. (found a good program at maximizemysocialsecurity dot com, that runs the numbers and what ifs). And at 70 (30 years employment per SS) the WEP affect is removed.

Thanks.

In my case, taking CPP early might not be a good idea, but I am not sure.

The Windfall Elmination Provision (WEP) would apply on my CPP benefit if I did a 'File and Suspend' of SS at age 66 (FRA) since I would be short 4 years of work for the 30 years needed. Four years later at age 70 I'd have the ...

When I reach age 70 I will have had 30 years employment in the U.S. If I collect SS and CPP at that point then it is obvious that WEP will not apply. However if I start collecting CPP earlier will that trigger a WEP situation years later when finally applying for SS when 30 years of U.S. employment ...

Thanks. I will 'file and suspend' when the time comes. That seems to be the best approach.

[quote="nelsona"]Not quite sure how that is calculated, but taking what you said, then if you work 30 years, you will have 5 '0' year and get NO SS, which is obviously incorrect.

The top 5 years are the top 5 years, no? doesn't matter if you worked 10 or 35.

Maybe you could rephrase your question ...

No chance of getting spousal amount while I wait, since my wife is 10 years my junior.. though I think she can get spousal amount off my benefits if I 'file and suspend'. I'll need to check that out.

Another question but relates to Social Security: The monthly benefit is calculated from an average ...

I am a U.S. Resident, and Canadian Citizen.

I am entitled to CPP at age 60 for a reduced rate. It seems that the break even point is age 74, comparing to taking it at 65 at a higher rate.

My plan is to work until age 70 at which point I will have worked 30 years in the US, and thus apparently WEP ...

I use paypal. I have a U.S. bank account and a Canadian bank account. I have a U.S. paypal account and a Canadian paypal account. I just transfer money from my U.S. bank to my U.S. paypal.. then send a money gift to my Canadian paypal account and then transfer that to my Canadian bank account.

I ...

nelsona,

Thank you for the information that I could not seem to find in my searches elsewhere.

It appears that I should follow the same plan, as SS will certainly be much more than CPP and OAS for me. (Just checked my account on Services Canada on what I would get for CPP). Healthcare costs is a ...

I am a Canadian citizen who at age 39 moved to the U.S. and obtained a Green Card. I have been working here in the U.S. for 18 years.
I worked in Canada up to when I moved to the U.S., so for 20 years.

I plan to retire at the age that makes most sense: a difficult determination it seems.
.. some ...

Thanks for the reply... three years too late. haha.. .but you didn't answer my question anyway. I know I would need to take the steps to replace it immediately... I was wondering what those steps were, and how and when I would be able to get back to the U.S. I did find out that it would take a few ...

Last night I traveled to Canada across from Buffalo at Fort Erie with the intent to return a few hours later. The Canadian agent asked to see my passport and green card, but he failed to hand back my green card. I realized this one hour later. After a fruitless phone call to Canadian Customs I drove ...