Search found 4 matches

by SailorLady
Wed May 27, 2015 11:34 am
Forum: Canada / United States Tax & Accounting
Topic: Inheritance and Dual Citizenship
Replies: 6
Views: 2896

Thanks again, I do agree not to buy an rrsp. I see how putting non taxable money into a taxable vehicle is just dumb. I was focused on finding the best way to have this money grow a bit so I could have some security for retirement and then started reading all the IRS web site information on world ...
by SailorLady
Wed May 27, 2015 10:51 am
Forum: Canada / United States Tax & Accounting
Topic: Inheritance and Dual Citizenship
Replies: 6
Views: 2896

I'm sorry, I am confusing you. the threshold I was referring to was when I expatriate. The total value of my investments here in the US would have to fall under a threshold and if they do fall under, I would not be taxed.

Bringing the money here would cost a lot due to the exchange rate.

That's ...
by SailorLady
Wed May 27, 2015 10:10 am
Forum: Canada / United States Tax & Accounting
Topic: Inheritance and Dual Citizenship
Replies: 6
Views: 2896

It's my understanding that the INCOME is taxable. That the IRS taxes worldwide income made by US Citizens/residents. Is that not correct? All the information I am reading is that is, but maybe something is wrong with my information. If I put it in the bank they must report it to the CRA and they ...
by SailorLady
Mon May 25, 2015 6:02 pm
Forum: Canada / United States Tax & Accounting
Topic: Inheritance and Dual Citizenship
Replies: 6
Views: 2896

Inheritance and Dual Citizenship

I was born in Canada and have lived in the US for nearly 20 years - I am now a US Citizen as well as Canadian and residing in the US. My father recently passed away in Canada and left cash which will be distributed after probate. I am trying to find a way to invest that money up there. I am looking ...