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’).
If you’re interested in contacting Julia (and I really can’t say enough good things about her) concerning Cross Border or any other finance issues you can do so HERE.
If you want to watch more financial fun with the team at Because Money you can do so HERE.
YOU MIGHT ALSO BE INTERESTED IN:
If you exist on both sides of the border, you might enjoy this series I did on how to save some money when transferring cash over the Canada/US border.
Are you an American living in Canada? Or a member of a partnership that’s half and half?
What are some of the ‘fun’ financial issues that you’ve run across?
Want to start getting control of your money? How can I help?
Financial Planner/Opera Singer
Money never came naturally to me. In fact… I was a bit of a disaster. I remember (very clearly) what it feels like to be ‘financially out of control’.
And honestly, I still get stressed about money… that doesn’t stop… the difference is that now I have the tools to deal with that stress.
And those tools are what’s made it possible for me to build a life full of the things I want: art, creativity, travel, family and more.