Serbinski Accounting Firms

Assuming my income stays in the lowest tax bracket in Canada 20%, I can see the arguement for leaving my ira as is, and NOT rolling it to a Roth. Even though I will have to pay the US 15%, the foreign tax credit will get some of that back. Whereas, if I do the rollover on 200,000,00 I would loose so...

OK, took awhile, but you had asked why they wanted me to keep the IRA, I finally got my answer. Because, if nothing changes, I will have a low income, and they said with paying the 15% to the US, and claiming the foreign tax credit it would be better than having rolled it into a Roth. Assuming I pay...

Yes, an ira account.

Sorry, I am making this very confusing I know.
I actually have just had it moved from the 401k and it is sitting in an account waiting to be dealt with, this week now that the holidays are over.
Would how I am taxed be different if I remove some now, before I roll over the rest?

My income for this year will be 15,000.00, and I file HOH. I am going to need to make a withdrawal on my Roth before I leave, I would like to end up with about 30,000.00. If I take 50,000.00 out, I pay 30% to the irs, am I still in a low enough income bracket in the USA to do this? I am asking becau...

OK, I called revenue canada, think, I ended up in China oh well...what the fellow told me was to carefully read itnews-43. Which is giving me more questions. I think, it is saying I will have to pay taxes in Canada on the money made within the roth, that it is not under any treaty...I'm sure you've ...

Ok, had my meeting, and they have proposed that I do a split between a traditional and roth iras. 1. If I roll some of the 401k into a Roth, am I able to take it out, without penaltly before 59.5 ? Just want to clear up tax free vs penalty free. 2. When I'm 59.5 and I start to make withdraws on the ...

Hahaha...yes so true.

Thank you so much for sharing your knowledge.
I am doing trustee to trustee. I'm wondering why they boohoo'd my mention of rolling it into a roth though.

How is the amount of tax I owe with the rollover determined?

I was wondering, is there a limit to how much of the 401k I can roll into a Roth?

Thank you so much for the information.
I think I will go set up a meeting, I'll probably be back with more questions.

OK, I've taken 401k out of company my x worked for, and I'm just waiting for it to show up. Once I roll in into a roth, I pay the tax penality and then I'm done with the US government? When you say tax free forever, when I am living in Canada, won't I have to report it as income? Am I understanding ...

1. Is there an advantage to leaving the 401k here? You did advise to roll it into a rsp. But, I was wondering about a Roth? Would I then be done with the tax end of it in the US? If I did that, does Canada then, ding me again in taxes on that money? This is too much for me, is there a book out there...

I want to come home to Canada in 2012. I will have rec'd 15,000.00 in alimony for that year, when I cross. I have roughly 175,000.00 in a 401k as part of the divorce settlement, I don't work. Should I leave it, cash it out, or some of it. My thought is, I should buy a house. I have no other money, a...