cost of living Canada vs US -

Subject:        cost of living canada vs US
Expert:         taxman at centa.com
Date:           Thursday October 12, 2006
Time:           04:56 PM -0400
QUESTION:
if a canadian resident is earning $112,000 Canadian, what would be am
equivalent fair salary in Richmond, VA taking into account the cost of
living (housing, transportation, medical, food, etc.)as well as federal and
state income tax burden, local property and real estate taxes, etc.
----------------------------------
david ingram replies:
This is an impossible question to answer without knowing your lifestyle,
kind of car you drive, and what Canadian city you are moving from.
For instance, a recent ""what if' situation with a fellow earning $3,500,000
US in San Francisco, showed he would be paying $29,000 less Federal and
state income taxes and social security.  In addition, he figured he was
getting twice as much house and was saving an additional $10,000 a year in
medical. I charged him $800 for the detail.
In general, to make up for everything at lower salaries, I say that a
Canadian needs 10% more in US dollars than he or she receives in Canadian
salary to make up for both the difference in taxes and the difference in
cost of living that a stranger experiences in any new area.
-	If you are moving from Toronto to New York, you need 20 to 40% more.
-	If you are moving from Vancouver to San Francisco, you need 30% more, no
question.
-	Calgary to Denver  needs 20% more.
Remember, that I am adding in the "lack of local knowledge and change of
culture" factor.
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