TLDR: Seeking a dynamo Canada-US cross-border tax expert who can advise/suggest advanced FIRE strategies for dual citizens splitting time between the US and Quebec.
Any recommendations for FIRE-friendly experts specializing in Canada-US cross border tax and planning? I know most of us are DIY-ers, but the laws and filing requirements for US persons like myself get complicated quickly and it’s challenging to find information that fits my situation exactly. So I’m willing to pay a reasonable amount for value-added guidance.
My situation is as follows in case that helps. Mainly looking for guidance and strategy assistance – avoiding pitfalls (PFICs, etc), optimizing what we’ve already earned as we start drawing assets down, and taking advantage of any opportunities if worthwhile (i.e. it seems I’d qualify for OAS if we live in Canada long enough).
• Wife and I are early 40s residing in the US. Wife is a dual US-Canadian citizen and I’m a US citizen. No kids.
• Considering moving to Quebec and I’d likely become a dual citizen at some point.
• We’re currently working W2 jobs and are considering stopping work soon, though not opposed to getting a job later to generate income if needed. We should have enough resources to live comfortably (not luxuriously) if we stop working now.
• We do not own a home and nearly all of our investments are in the US. Around half of our assets are in pre-tax vehicles. Wife has some small Canadian funds that are almost negligible, though she’s already qualified for QPP and OAS from her work in Quebec before moving to the US.
• After we are both dual citizens we’ll have the ability to live where we want, so may spend some years in the US and others in Canada depending, for example, on if an aging parent needed assistance.
• To whatever extent possible we’d like to “control” in which country we are considered residents in any given year. Hoping this allows us to do Roth conversions while in the US, but I get the impression it’s not that easy.
I’ve briefly worked with a CPA that specializes in expats (though not focused on US-Can situaitons), but I’m not convinced he can provide they type of strategic advice I’m seeking. I have an initial meeting with a CFP who seems to check a bunch of the boxes I’m looking for, though can’t find many reviews and not clear if he has strategies for FIRE-minded folks. I found the following possible resources, but don’t have any first-hand reviews:
• Cardinal Point Wealth
• MCA Cross Border Advisors
• RetireMitten
• Fuller Landau
• Citizen Abroad
If anyone has had experience with these or other firms, I would love to hear about it. Thanks for reading this novel 😊