Serbinski Accounting Firms

Thanks!

I was thinking of using HSA as a supplemental retirement saving plan with the added benefit that if you use it for health costs in retirement, it remains tax free. After doing a bit more research, the fact that my wife has a health FSA probably precludes me from contributing to my HSA this ...

Hi Nelsona,

Earlier in this thread you mentioned that Canada will treat HSA as a retirement account if you keep it. Is that written anywhere? I'm considering how much I should contribute to mine right now. I expect to move back to Canada at some point, but it's not a 100% certainty.

Thank you nelsona! That makes sense. I was thinking of the DL example as well.

And you're right... I misspoke about being a "deemed" non-resident.

My wife and I have been living in PA and commuting to NJ for the past year - no problem - I'm a PA resident and there's a PA/NJ tax agreement that covers it.

But now I have bought a new house in NJ. I have to move out of my place in PA this wee, but the house in NJ isn't ready yet, so we'll have to ...

Background: USC was resident in Canada Jan - Apr; relocated to US during the year; got married to Cdn citizen (ceremony in Canada) after relocating (she has also relocated to US during the year).

Subsequent to marriage, I requested a marriage certificate, but never received one. Not sure if it got ...

I'd like to follow up on my question from a few months ago:

Dual citizen living/working in US now
Relatively young (mid 30s)
Income near the 28%-33% tax bracket cut off
May return to Canada at some point; I'd say >50% likelihood, but not certain

Nelsona had suggested Roth 401k, but my employer ...

I only followed up because I've subsequently moved to the US, so if they had sent any correspondence to my Canadian address, I wouldn't have received it.

The agent I spoke to didn't have the details, only that it was being reviewed for a claim. No correspondence has been sent yet. I'll update the ...

Has anyone heard any updates on this? I was following up on the status of my return and apparently it is under examination for the allowability of a claim. I didn't claim any expenses, so it's likely be reviewed for my NIIT claim.

Is Roth election permanent? I think I'll be in 28% bracket this year and 33% next year, so ideally I would go Roth this year, and traditional next year. I'm in my mid-30s so it really seems like a toss-up at this point.

Any thoughts on this situation?

Dual citizen
Just moved to US from Canada
Long time horizon until retirement, and can't say where I'll be in those years
High tax bracket today (33% in US last year; might be in the 28% bracket this year; income probably too high for IRA)

I'm thinking traditional ...

Thanks MGeorge and nelsona!

As always, this site is a wealth of information for dealing with any cross-border tax issues.

On 8275, did you refer to SSTA as the Rev. Proc. (column a) and Form 8960 as the applicalble Form (column d)?

I'm actually in the process of moving to the US and will be a US resident for most of 2015. Do you think it's worth it for me to try this given only one year (~$400) benefit?

New related question: I just got a notice to pay instalments for 2015 (March & June). I'll be moving to US at the end of April. Should I make the instament payments? I expect that my exit tax return will be result in a refund since withholdings were assuming a full year of income.

My fiancee and I are in the process of moving from Canada to US for employment. Our plan is to be there for a few years and come back to have children in Canada (near family). Any thoughts on what we would need to do to be eligible for maternity benefits / EI when we return to Canada? Is it ...

I know there's a lot of posts about this, but most of them are about Canadians moving to US.

I'm dual US/Cdn citizen, lived in Canada my whole life. I'm IRS-compliant to the best of my knowledge. I've been offered a job in the US, and I was curious if there are any special considerations for a USC ...