Tax and other financial matters concerning Canadian professionals
in the U.S. and U.S. citizens in Canada Includes income and estate taxation, social security, health
insurance, retirement accounts, cross border tax issues, and other matters affecting your pocketbook.
Topic Administrator: Mark T. Serbinski, CA, CPA of Serbinski
Weinberg, Ltd. CPA's and Serbinski Partners, Chartered Accountants
Hi and thank you in advance for you help.
I am a Canadian citizen living in Canada and crossing the border daily to work for in the US for a US company. I currently hold a TN visa and they take out the following deductions:
- Federal Income tax
- Social Security tax
- Medicare tax
- NY State Income tax
- NY SUI/SDI tax
- 401K (I have no personal 401k deductions)
- Invest
My questions are as follows:
1. What tax forms should my employer give me at the end of the year?
2. Which tax forms should I fill out to file my US taxes?
3. When/if can I can I claim/transfer my 401K to Canadian RRSP with minimal penalties?
4. How would I find out my total contributions to my 401K other than my pay stub? I would like to verify the amount
5. I contribute annualy to my Canadian RRSP, should I contribute to 401K too?
Thank you again.