A new Bill (H.R. 1547) proposes eliminating Social Security benefits for non-U.S. citizens. We discuss the ramifications for Canadians who have worked in the U.S., who may be impacted, and potential planning strategies. Watch the video here: https://youtu.be/ERrgwF8bvCQ Need More…
Category: Retirement Planning
Update on WEP: When Your SS Benefit Will Increase
In January 2025, WEP was officially eliminated retroactively to 2024. Today, we received more information regarding when your Social Security Benefit will be adjusted, when to expect your retroactive lump sum payment, and what you need to do next. https://youtu.be/Suo5J8CZBq8…
U.S. Health Insurance Options for Cross-Border Retirees
As a cross-border retiree, health insurance can be one of the most stressful parts of retiring in the U.S. In this video, we discuss your health insurance options if you retire after age 65 and before 65. We also discuss…
Read More U.S. Health Insurance Options for Cross-Border Retirees
What is the Tax Withholding on Canadian RRSP Withdrawals in the U.S.?
In this version of Ask a Cross-Border Financial Advisor, we receive a question about taxes on RRSP withdrawals in the U.S. https://youtu.be/YiH1c5ksu0g Need More Help? Are you interested in working with a financial planner who specializes in cross-border financial planning?…
Read More What is the Tax Withholding on Canadian RRSP Withdrawals in the U.S.?
Has Our Canada Pension Strategy Changed?
The Windfall Elimination Provision is officially eliminated. Now, we need to discuss the best strategy for turning on your Canada Pension and Social Security. In this video, we discuss: - The basics of CPP - The benefits of waiting to…
An Update on the WEP Elimination Bill
President Biden has signed off on the Social Security Fairness Act, which eliminates WEP and GPO. Eliminating WEP may mean hundreds of extra dollars per month in Social Security benefits for families that have lived and worked in the U.S.…
Is This The Best Strategy For Withdrawing Your Canadian RRSP in the U.S.?
Withdrawing your Canadian RRSP in the U.S. can result in significant tax consequences in both the U.S. and Canada. In this video, we discuss: - Canada tax withholding on RRSP withdrawals - The use of Foreign Tax Credits to offset…
Read More Is This The Best Strategy For Withdrawing Your Canadian RRSP in the U.S.?
WEP is Eliminated!
Last night, the Senate voted to repeal the Windfall Elimination Provision (WEP). This may mean hundreds of dollars more in monthly social security benefits for families that also have a Canada Pension. In this video, we discuss: - The Social…
Why You Should Move Your Money From Canada (Even At This Exchange Rate)
Why would I ever move my money from Canada to the U.S. at this exchange rate?! We often hear that when the exchange rate is as bad as today. However, you may be better off moving the money now than…
Read More Why You Should Move Your Money From Canada (Even At This Exchange Rate)
Receiving a Canadian Inheritance as a U.S. Resident
Cross-border estate planning can be very confusing. Today, we try to clarify some of the uncertainty of receiving an inheritance from a Canadian here in the States. We will discuss: - Taxation of the inheritance in Canada - Taxation here…
Read More Receiving a Canadian Inheritance as a U.S. Resident