Search found 9 matches
- Sun Mar 31, 2019 2:46 pm
- Forum: Canada / United States Tax & Accounting
- Topic: At Retirement - how to account for 401k income with CRA
- Replies: 6
- Views: 2359
- Sun Mar 31, 2019 9:50 am
- Forum: Canada / United States Tax & Accounting
- Topic: At Retirement - how to account for 401k income with CRA
- Replies: 6
- Views: 2359
Re: At Retirement - how to account for 401k income with CRA
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 inaccur...
- Fri Mar 29, 2019 11:49 am
- Forum: Canada / United States Tax & Accounting
- Topic: At Retirement - how to account for 401k income with CRA
- Replies: 6
- Views: 2359
At Retirement - how to account for 401k income with CRA
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) there...
- Thu Mar 28, 2019 11:47 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian returning to Canada : 401k Election to defer taxes
- Replies: 3
- Views: 1515
Re: Canadian returning to Canada : 401k Election to defer taxes
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 !
Thanks !
- Thu Mar 28, 2019 3:55 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian returning to Canada : 401k Election to defer taxes
- Replies: 3
- Views: 1515
Canadian returning to Canada : 401k Election to defer taxes
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 until ...
- Fri Aug 12, 2016 7:14 pm
- Forum: Canada / United States Tax & Accounting
- Topic: amount of income tax paid in the USA = Foreign Tax Credit ?
- Replies: 8
- Views: 3887
- Fri Aug 12, 2016 7:00 pm
- Forum: Canada / United States Tax & Accounting
- Topic: amount of income tax paid in the USA = Foreign Tax Credit ?
- Replies: 8
- Views: 3887
- Fri Aug 12, 2016 7:00 pm
- Forum: Canada / United States Tax & Accounting
- Topic: amount of income tax paid in the USA = Foreign Tax Credit ?
- Replies: 8
- Views: 3887
- Fri Aug 12, 2016 4:07 pm
- Forum: Canada / United States Tax & Accounting
- Topic: amount of income tax paid in the USA = Foreign Tax Credit ?
- Replies: 8
- Views: 3887
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 Soci...