Serbinski Accounting Firms

Thanks! My 401k and IRA are both Roth for the reasons you outlined. I don't want to be owing the IRS anything when I'm 60!

Based on your response, it seems I have two options:

Option a) Invest in taxable accounts in the US. Pay tax on dividends. Pay no tax on capital gains in US or Canada upon ...

A bit of a tax planning question for the bright minds of the Serbinski forums!

I'm on an H-1B in the US, and I've been maxing out my (Roth) 401k and IRAs. Reading through the forums here, however, I understand that capital gains and losses 'reset' if and when I move back to Canada, in terms of ...

Point taken on the ROTH vs. traditional 401(k). I'm not sure if my employer plan allows ROTH contributions, but I'll definitely check it out.

Thanks, both of you!

That's a good point about diminished returns on over-eager contributions. Luckily for me, I contributed approximately enough to bring my CAD income down to 30k this year, so I think I'm safe there.

On the US side, if I make the maximum 16.5k contribution, my US income will be ...

I moved to the US last month on an H1-B visa. Prior to moving, I put ~$25k into an RRSP to offset my Canadian income of ~50k.

I'll have 3 months of income this year in the US, totally $54k. I plan on claiming departure from Canada on my tax return when filing my taxes in April 2012, filing an NR-73 ...