I have good and bad news for those of you that live in the U.S. but have a Canadian RRSP from when you lived in Canada. The good news is that there is a really good chance your taxation here…
Category: Cross-Border Planning
Social Security Strategies When You Also Have a Canadian Pension
If you worked in both the U.S. and Canada, there is a good chance that you will have both U.S. social security and a Canadian pension. Unfortunately, this brings an added wrinkle regarding when you should turn on each benefit.…
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Taxation of Your RRSP, RRIF, CPP, and OAS in the U.S.
Many retirement accounts, different country pensions, exchange rates, and multiple tax rates. Working both in the U.S and Canada sure does make things complicated. However, if you are retiring here in the U.S., your tax situation is much more favorable…
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CPP, U.S. Social Security and WEP
Sometimes, as a financial planner, I have to deliver bad news. “We may have to look at cheaper homes.” “Sure, you can retire this year, but you may have to sell the boat.” “No, you can’t buy lotto tickets…
How Your Canada Pension Plan (CPP) Impacts Your U.S. Social Security Benefit
Retirement planning is hard enough if you have always lived and worked in the United States. If you have worked in both Canada and the U.S., retirement planning may seem impossible. You have to deal with a moving exchange rate,…
Read More How Your Canada Pension Plan (CPP) Impacts Your U.S. Social Security Benefit