Tag Archives: rrsp
Should I convert my IRA before moving to Canada?
Posted on 04. Feb, 2011 by Phil Hogan, CA.
Tweet Question Hello, I have a question…I’m planning on moving to Canada (I’m a US citizen) in the next few months and I’m wondering whether I should convert my existing IRA ($200,000) to a ROTH IRA or enter Canada and roll it into an RRSP. What are your thoughts? What are the tax implications? Thanks [...]
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Do I pay US tax on interest earned from the US?
Posted on 03. Feb, 2011 by Phil Hogan, CA.
Tweet Question Hello Phil, I have what I hope is a simple question. If a Canadian resident earns interest income on money invested in the US, does the Canadian resident then have to file US income tax? If so, is an ITIN number needed by the Canadian resident? Thanks XXXXXX Answer Hi XXXX Under the [...]
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RRSP payment to UK resident withholding tax?
Posted on 23. Jan, 2011 by Phil Hogan, CA.
Tweet Question Hello, I moved from Canada in 2003 and left my RRSP in Canada. I’m planning on withdrawing $10,000 from the RRSP this year. How much Canadian tax will they withhold? Thanks for your time. XXXXX Answer Hi XXX Canada will withhold 25% of the RRSP payment at source. Unfortunately the withholding rate is [...]
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Cross Border Tax Q&A – Tax Forms For RRSPs in the US?
Posted on 09. Jun, 2010 by Phil Hogan, CA.
Tweet Question Hi Phil My US accountant told me that my Canadian RRSPs are not taxable in the US, however someone told me that I need to file a TD9022 to report the RRSPs. Does this form exempt tax on the RRSPs? I moved to the US from Canada 3 years ago. Thanks XXXXXX Answer [...]
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Cross Border Tax Q&A – Can I roll my RRSPs to an IRA?
Posted on 07. Jun, 2010 by Phil Hogan, CA.
Tweet Question Phil I’ll be moving to California permanently next January and I wanted to get your opinion on a tax matter. Will I be able to “roll over” my RRSPs to an IRA (before or after I leave) into an IRA tax free? Thanks for your help in this matter. Kind Regards XXXXXX Answer [...]
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Cross Border Tax Q&A – Deduction of RRSP Contributions on 1040 Return?
Posted on 04. Jun, 2010 by Phil Hogan, CA.
Tweet Question Dear Sir I’m a US citizen (born in the US) living in Ottawa, Ontario Canada. I’ve prepared my own Canadian taxes and US taxes (1040 income tax returns) for the last 10 years including the filing of foreign tax credits on form 1116 IRS. My question is this: can I deduct my Canadian [...]
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