Search found 4 matches
- Tue Mar 13, 2007 10:41 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Renunciation
- Replies: 20
- Views: 15659
nelsona, according to my income (and using the worksheet), my salary limits the child credit to $500. That is then eaten up by tax and the AMT. While I'm new to using tax credits, I plugged all of my paid foreign taxes into TurboTax as a credit and come out having to pay around $800. My RRSP contrib...
- Fri Mar 09, 2007 10:00 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Renunciation
- Replies: 20
- Views: 15659
Two concerns for me: (1) I am now exceeding the FEIE, and expect to even more in the future. I fully max out my RRSP each year. Up until now, I have gotten by with simple, but unknowingly incomplete forms -- though I recently made some corrections for 2005 -- but things are getting more complicated....
- Fri Mar 09, 2007 3:34 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Renunciation
- Replies: 20
- Views: 15659
A climate change argument? That is thinking out of the box -- I like it! The sad thing is, you just could be right, although I suspect the fall-back could be for Canadians living in the States. I agree the United States passport is cherished, but so is Canada's. Everyone's circumstances are differen...
- Fri Mar 09, 2007 10:47 am
- Forum: Canada / United States Tax & Accounting
- Topic: Renunciation
- Replies: 20
- Views: 15659
Renunciation
nelsona (and certainly many others) have noted "heavy" consequences for renouncing US citizenship. I'm curious: what evidence do you have to support this assertion? Is it not situation dependent? In my case, I am a long-term Canadian citizen and resident, although I still hold US citizensh...