Search found 3 matches

by Andreww
Fri Aug 09, 2019 6:18 pm
Forum: Canada / United States Tax & Accounting
Topic: Case Studies: Social Security, WEP, and CPP
Replies: 17
Views: 1466

Re: Case Studies: Social Security, WEP, and CPP

Thank you very much for sharing your thorough analysis with this community. My strategy to minimize the WEP is to take CPP at age 60 and SS at 70. My CPP is now only $USD 220/month and the SS will be $USD 3300/month. Based on your analysis, I estimate that the WEP cost should be about $110/month. Ag...
by Andreww
Wed Mar 20, 2019 12:57 pm
Forum: Canada / United States Tax & Accounting
Topic: Never filed FBAR for RRSPs. How to get compliant?
Replies: 0
Views: 399

Never filed FBAR for RRSPs. How to get compliant?

I am a dual-citizen that retired in Nevada in 2018. I worked in Canada until 1994 and funded 2 RRSPs that are each over the FBAR reporting level....but I have never filed an FBAR, or reported RRSP income on US taxes, because I was unaware of the rules. How can I get compliant with FBAR? How many yea...
by Andreww
Tue Mar 27, 2018 3:30 pm
Forum: Canada / United States Tax & Accounting
Topic: Strategy to Minimize Windfall Elimination Tax Effect
Replies: 6
Views: 848

Strategy to Minimize Windfall Elimination Tax Effect

I retired to Nevada in 2018 at age 60 after working 12 years in Canada and 23 in the US. I want to maximize CPP/SS pensions and minimize the effect of the Windfall Elimination Provision. My plan is to take CPP at 60 and SS at 70 so I would get 10 years of CPP with no overlap with SS (no WEP?), and s...