Hi David - I enjoy your website of information. I am a Canadian
resident and US citizen living in N. Vancouver. I participate in a
401k with my US employer (they don't match anything). Since I
understand the situation of double taxation on the 401K monies would
it make more sense to roll all the monies into my IRA in the states
and perhaps open an RRSP in Canada or RESP (education acct) for my 2
children living here in Vancouver (we plan to stay living here
indefinately). Thanks for your reply in advance.
====================
david ingram replies:
Do no tmake another cent contribution to your 401(K).
It is worth nothing as a deduction and will be taxable when you take
it out.
Buy a Canadian RRSP or better still, pay down your mortgage.
Every Thursday evening Fred Snyder and I hold a free seminar at Fred's
office at 1764 West 7th (corner of Burrard in the Spence Diamond
building) in Vancouver.
The topics are:
Seg funds and an alternative to the traditional RRSP.
Making your mortgage income tax deductible
Critical Care insurance for disasters.
coffee and cookies of course.
Phone 604-731-8900 to reserve your seat -and, you are welcome to bring
your brother, your sister, your mother or father, your children, your
best friend, your worst enemy or your own financial advisor who hasn't
explained how to make your mortgage deductible.
-------------
Answers to this and other similar questions can be obtained free on
Air every Sunday morning.
Every Sunday at 9:00 AM on 600AM in Vancouver, Fred Snyder of Dundee
Wealth Management and I, David Ingram host a LIVE talk show called
"ITS YOUR MONEY"
Those outside of the Lower Mainland will be able to listen on the
internet at
www.600AM.com
Local calls are taken at (604) 280-0600 and Long Distance calls are
taken at 1( 866) 778-0600
Callers to the show are invited to attend free seminars on financial
planning with such specialities as deductible mortgage interest. They
are held at Fred Snyder's Office at 1764 West 7th in Vancouver - (604)
731-8900 for more information.
=========================================
David Ingram's US/Canada Services
US / Canada / Mexico tax, Immigration and working Visa Specialists
US / Canada Real Estate Specialists
4466 Prospect Road
North Vancouver, BC, CANADA, V7N 3L7
Res (604) 980-3578 Cell (604) 657-8451
(604) 980-0321 Fax (604) 980-0325
Email to taxman at centa.com
www.centa.com www.david-ingram.com
Disclaimer: This question has been answered without detailed
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in any particular circumstances. No contract exists between the reader
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==============================
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Immigration Tips, Income Tax and ImmigrationWizard Income Tax and
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