Serbinski Accounting Firms

Many thanks!

I made 401k contributions in 2014, 2015 and 2016 matching those my employer made.

For my canadian taxes, I was told to count my employer’s contribution as income and that I was not allowed to deduct my own contributionn to reduce my canadian taxable income (as one would do an RRSP).

Was that ...

I’m still about 10 years from retirement. I worked in the US beteeen 2014 and 2016. I have a 401k from that job.

When I was in the US, I paid taxes in Canada (significant residential ties). As you know, CRA doesn’t let you write off your 401k contribution (like they do for your RRSP deduction ...

That’s fantastic news. So, do I need to tell CRA anything about the 401k before I start drawing retirement income from it then?

Thanks !

Good afternoon.

I am a Canadian who worked in the US between mid 2014 and mid 2016.

I was laid off in 2016 and stayed in the US until January 2017 when I returned to Canada to work. Not sure if this matters or not but my wife, A Canadian military member was posted in the US and remained there ...

Thank you. This just made my day! I will have to figure out how to amend my 2014 return but that's for another day. I think I'll just hire Serbinski to do a complete review. Have an awesome weekend!

Just to clarify, I can add W-2 boxes 2 (Federal Tax), 4 (Social Security Tax) and 6 (Medicare tax) for my claimed foreign taxes paid (plus my state taxes) right?

[quote="nelsona"]you would add the wage portion plus your deferred comp. Don't use the figures used for SS or Medicare, any equating to what I describe above may be purely coincidental.[/quote]

Just to clarify, I can add W-2 boxes 2 (Federal Tax), 4 (Social Security Tax) and 6 (Medicare tax) for my ...

A follow-up and related question. My situation is that I have significant residential ties in Canada and, in 2015, I was employed in the US by an American company. I am in the US under a NATO-2 (spouse) visa. I had a Canadian accountant prepare my Canadian taxes last year and he did not add the ...