Thanks for the reply @RalphH1
I am trying to understand all the tax related strategies.
Main goal
- Contribute to RRSP, RESP and deduct/reduce when we file taxes in USA
- Grow the RRSP, RESP without paying any taxes i.e., tax-deferral strategy, and pay taxes during withdrawals.
I am trying to find official links to these but could not find any.
Please share any other strategy for Canadians working in USA and not filing any tax forms in Canada and filing only tax forms in USA (both federal and state).
Further, additional details,
I was told that in RRSP, RESP, the gains are tax free growth even while living in USA including states like California and Texas. Say, if we invest in stocks and do buy/sell and we can keep the amount in RRSP without paying taxes in that year. We only pay taxes to this profits only when we withdraw. Please correct if my understanding is wrong.
Regards
SSV
