Taxes for US Green Card Holder working in Canada

dreamzdesi · Post by **dreamzdesi** » Wed Aug 29, 2012 4:00 pm

We don't want to do double taxation -

If we get tax credits for buying home and mortgage interests in one country, would other country recognize it?

How about if we invest in 401-K in US, will we save money on canada?
Would opening an incorporation in Canada save money for US taxes?

Thanks
Desi

nelsona · Post by **nelsona** » Thu Aug 30, 2012 10:45 am

Deductions can only be cliaimed if they mmet the criteria of that country (or is specifically mentionned in the treaty), so mortgage interest is not deductible, but 401(k) contributions are (subject to rules), and are mentionned in the Cdn tax guide.