The Globe and Mail Report on Business has a regular feature "Financial Facelift" which gives a family's financial details and offers advice. Today's installment is entitled "Expats face tangle of tax laws to retire in the U.S." at [url]http://www.theglobeandmail.com/servlet/ ... 9/TPStory/[/url]
The article quotes a financial planner:
"This situation is unusually complex because of the cross-border issues," the planner explains. "The U.S. Internal Revenue Service does not recognize the tax-deferred status of RRSPs. Moreover ...."
This is just bizarre. The article asserts that expatriates face extra difficulties in sorting out their financial affairs. Indeed so, but I think the article illustrates all too well that one of the biggest hazards expatriates face is ill-informed advice from so-called professionals.
Media Misinformation
Moderator: Mark T Serbinski CA CPA