After last week there’s been a lot of talk about moving to Canada, especially from our neighbours to the south.
Now I’m not saying you should (even though it’s pretty awesome up here), but I wanted to share this video that breaks down some really interesting financial issues for Americans who live in Canada.
I don’t know why exactly, but my close friend group is full of ‘mixed’ couples: one American and one Canadian, and there are a ton of money questions that come up when your life is spilt over the border.
Julia Chung joins Sandi Martin, John Robertson and I to talk about cross border finance, and let me tell you… she’s awesome.
We talk about:
The difference between residency and citizenship for Americans in Canada
(and who decides which applies) – 8:17
What should you do if this is the first you’ve heard of having to file taxes
(even if you don’t live in the US anymore) – 11:27
How do you know where you’re a resident? – 14:22
What happens if you’ve contributed to Social Security AND the Canada Pension Plan – 17:55
Can Americans in Canada own TFSAs (and whether they should) – 23:37
If you are a US citizen are your children automatically US citizens? – 26:50
I’ve included minute markers so you can skip around, or tune in for the whole show (which includes an insanely nerdy game of ‘False Equivalents’).