Serbinski Accounting Firms

Thanks JGCA. So the scenario would work like this? Using $100,000 for ease of numbers: C Corp earns $100,000 Corp Pays me $60,000 salary (taxed in US and Canada, where will the primary income tax be paid on US return or US return?) Corp Puts $40,000 in Defined Benefit Plan C Corp Net income $0 (so n...

nelsona in the tax treaty technical explanation document if says that the pension deduction which is available for up to 5 years is not available to self-employed people. Would that include me? Also, based on what LGCA said, my question is if I switch to a C Corp and since I am temporarily (i.e. <5 ...

Thanks JG and Nelsona. My US corporation was originally a C Corp. I made a Sub Chapter S election which I can easily rescind and make it a C Corp again. Would that change anything from the Canada perspective then? Would that affect the Cash Balance Plan contribution treatment in Canada?

"I hope your US corp won't screw over its employee like that. " I will not have any Canadian employees. The only employees of my US business will be my spouse and myself. I thought the US business can pay us W2, and we pay US payroll tax and federal income tax and then with the Canadian re...

I need the US Corp because client contracts already exist with that Corp and the clients will not be willing to redo those contracts with a different/foreign entity. Since I am a US citizen and am owner/employee of this US firm, living in Canada to maintain my Canadian PR, why can the US firm not pa...

Sorry about the quotes. Just make sure I change the structure by that time means by when? Before moving or within 5 years after moving? I have to have a US firm and be its employee with a US W2 salary for my business. I will definitely exceed that limit and leaving in the US corporation does nothing...

Wow, there may be hope yet. I will try to find the Tax treaty info. Thanks! Please see me responses/questions below [quote="nelsona"]Besides RC268 is for those commuting to US to work. The situation is more likely covered by RCA267, which has no such RRSP contribution room limits. So wrong...

[quote="nelsona"]In general, one is able to continue to deduct contributions made by or on behalf of the employee to a US pension arrangement, for 5 years after they move to Canada, while still working for that US employer.[/quote] Thanks nelsona for your help! I was told by a CPA that the...

Sorry, it is actually a Defined Benefit Plan (Cash Balance Plan).

I am a U.S. business owner (S-corp) and U.S. citizen. Got Canadian PR card and am thinking of moving to Canada but have come across a big potential issue/question. My U.S. business contributes to a Defined Contribution Plan (DCP) on my behalf. This contribution is fully deductible on the business ta...