Search found 5 matches

by mchuchra
Sun Apr 18, 2021 10:20 pm
Forum: Canada / United States Tax & Accounting
Topic: Coverdell / Education Savings Account (ESA)
Replies: 0
Views: 727

Coverdell / Education Savings Account (ESA)

I have not been able to find any info on this board to describe the US based education savings account known as "Coverdell" account or ESA (also known as an Education Savings Account). These seem to be less popular than 529 plans. We are a family that previously lived in the United States ...
by mchuchra
Mon Mar 15, 2021 9:46 am
Forum: Canada / United States Tax & Accounting
Topic: US based 529 plans and ESA (aka Coverdell account)
Replies: 0
Views: 1204

US based 529 plans and ESA (aka Coverdell account)

Hello, Situation 1: 18 year old Canadian resident who will be attending an Ontario University next Fall. US based (non-Canadian) grandparent (the grandfather is the account sponsor) opened a 529 education savings account for the student years ago. Question: What is the most tax efficient way to with...
by mchuchra
Mon Mar 15, 2021 9:19 am
Forum: Canada / United States Tax & Accounting
Topic: Enhanced dividend tax credit in Canada
Replies: 1
Views: 182

Enhanced dividend tax credit in Canada

Hello, Canadian residents can take advantage of the "enhanced dividend tax credit." (i.e., the effective Canadian marginal tax rate for eligible dividends is quite a bit lower than the marginal tax rate for employment income, interest and foreign dividends. It is also lower than the margin...
by mchuchra
Tue May 10, 2016 1:05 pm
Forum: Canada / United States Tax & Accounting
Topic: Looking for Cross Border Financial Advisor
Replies: 0
Views: 1139

Looking for Cross Border Financial Advisor

Hello Cross-border community, I am an American living in Canada (~9 years now). I read postings on this message board with regard to many specific tactical issues (thanks to all, especially Nelsona), but often feel like I should get some help reviewing my overall situation (Canadian accounts, US acc...
by mchuchra
Sun Jan 23, 2011 11:39 pm
Forum: Canada / United States Tax & Accounting
Topic: Departure Tax (from Canada to US)
Replies: 6
Views: 5183

Departure Tax (from Canada to US)

I am a U.S. citizen have been living and working in Canada for 3 1/2 years. I did attain Canadian Permanent Residency status about a year ago. I have been married to a Canadian citizen (US green card holder) for 10 years, and we lived in the US prior to 3/ 1/2. If we move back to the US before the 5...