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.…
Tag: Canada-U.S. Retirement Planning
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…
Missing These Cross-Border Tax Forms Could Cost You Thousands!
As a cross-border financial planner, we review all of our clients' tax returns. Unfortunately, this means catching many mistakes that can be very costly. If you have Canadian accounts, failing to report these on your taxes can cost you up…
Read More Missing These Cross-Border Tax Forms Could Cost You Thousands!
U.S. Spousal Social Security For Canadians
Did you know that you may be eligible to collect a Spousal Social Security benefit even if you have never worked or lived in the U.S.? Imagine never living in the United States but still collecting $1,400 monthly from Social…
OAS Income Clawback for U.S. Residents
Have you lived and worked in the U.S. and Canada and are now approaching retirement? Old Age Supplement (OAS) is one of the most misunderstood benefits for Canadians retiring in the U.S. Today, we clear up some misconceptions regarding OAS.…
The Worst U.S. State For a Canadian to Retire
This video discusses the U.S. states with the highest and lowest taxes on your Canadian benefits and account withdrawals. We talk about: The tax treatment of your CPP and OAS The states that will tax your CPP and OAS State…
4 Medicare Mistakes to Avoid as a Cross-Border Retiree
Imagine that you are getting excited about turning 65 and finally going onto Medicare. Turning Medicare age may mean significant monthly medical premium payment savings for most. However, now imagine that you get a letter from Medicare that you will…
Read More 4 Medicare Mistakes to Avoid as a Cross-Border Retiree
Cross-Border Tax Strategies: RRSP Withdrawals or Roth Conversions?
In this video, we discuss different cross-border tax strategies. In particular, is it better to take RRSP withdrawals or implement a Roth conversion strategy for retirement? We discuss: The Retirement "Tax Valley" Filling up this Tax Valley with RRSP Withdrawals…
Read More Cross-Border Tax Strategies: RRSP Withdrawals or Roth Conversions?
Cross-Border Retiree: Can I retire with a C$300k RRSP and a $700k 401(k)?
Have you lived and worked in the U.S. and Canada and are now approaching retirement? In this video, we review a situation in which a couple has lived and worked in both Canada and the U.S. for 20 years and…
Read More Cross-Border Retiree: Can I retire with a C$300k RRSP and a $700k 401(k)?
The Best (And Cheapest!) Way to Move Money From Canada to the U.S.
Are you looking to move money from Canada to the U.S. but don't want to lose thousands in exchange rate and bank fees? This video discusses different strategies for moving money from Canada to the U.S. We discuss: Reporting requirements…
Read More The Best (And Cheapest!) Way to Move Money From Canada to the U.S.