Author Topic: Looking for resources re: Cross border (US/Canada) planning  (Read 208 times)

megge6537

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Starting to try to get my mind around a more firm plan for future planning - particularly with respect to what tax-deferral tools are available to us.
Our situation is complicated by the fact that we are Canadians living in the US and we may either stay in California long term, or may return to Canada on retirement (this looks 50-50 right now). Retirement is 10-20 yrs away (depends on savings & potential inheritance)

I need to contribute more cash to one of our investment accounts but I do not really understand well the US system, so am looking for basic introductory resources that I can study.

Our investment assets are currently in Canadian RRSP (55%), US 401k (7%) and a US non-registered/taxable account (38%)
- My employer offers 401k - currently contributing (but not Max) as well as a few IRA options & an HSA.
- Canadian non-registered and TFSA's were closed when we moved to the US (proceeds now in the US account)

Example of complex cross-border issues: Canadian RRSP's are not treated as tax-deferred by state of California (ugh)

Edited to add:
- concerned about having $ locked into an account that is difficult to access due to age or residency
- we are in a pretty high tax bracket (>$200k HHI), so want to take advantage of tax deferral
- married couple, with only one income earner
« Last Edit: June 19, 2018, 12:30:16 PM by megge6537 »