I want to find a site where i can learn about CAN and USD tax laws. i'm a dual citizen and want to mv to CA

I currently live in the in the US. I was born in Canada and moved to Chicago 9 years ago, I plan to move back to Canada once I get my US citizenship. I want to learn more about what I need to do with my investment so I can minimize my taxes. Also want to learn more about 401K, social security etc

Once you either gain a US green card, or US citizenship, then you are stuck with filing US tax returns until you die, or you give up your green card or citizenship. This means if you move back to Canada, you will have to continue filing US taxes, and paying US taxes on your worldwide income, as well as paying Canadian taxes on your income.

Giving up a US green card or citizenship so you can stop being taxed by the US on your worldwide income poses additional problems as well. In the 1990's, the IRS cracked down on this by establishing the expatriation rules under Section 877. If you give up your US green card or US citizenship, the IRS will assume that you are doing this for purposes of tax avoidance. This means that the IRS will compel you to file complicated statements for 10 years that will figure out your taxes as if you remained a tax resident of the US. This includes figuring taxes on the growth of your assets such as your pension. When the rules first came out, we used to charge our individual clients (which were typically high net worth clients) upwards of $10,000 a year just to prepare the calculations and statements to comply with Section 877. The only exception to the expatriation rules is if you are moving to either the country where you were born (if you are not a native US citizen) or the country where your parents were born.

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