New Ebook – Canadian Deductibility of 401(K) Contributions and U.S. Deductibility of RRSP Contributions
A Canadian working in the U.S. may be offered a 401(k) plan with matching contributions by their employer. The plan will lower U.S. taxable income, but what effect will it have on Canadian taxable income? Are the matching contributions taxable in Canada, and how will Canadian RRSP contributions be affected? Or IRA contributions? Similarly, an American working in Canada may utilize RRSP contributions to reduce taxable income in Canada. But are they deductible on a U.S. tax return? What are the necessary tax forms? The Canada-U.S. tax treaty is where the answers are. Find out more in this e-book. As always, Cardinal Point’s professionals are ready to assist you in all cross-border tax and retirement matters.