WonderingK
New Member
Hello! I have been eligible for nearly a year for my US Citizenship, and I have (almost) decided it is time to apply. My only concern in doing so is the *potential* for me to want to return to Canada at SOME point in the future. My parents are still there, and I don't know if I will ever be ready to say 100% for sure that I do not want to return to Canada. However, I keep reading about all the tax implications of taking dual citizenship -- or being an American citizen living in Canada... so I am afraid that becoming a US citizen and then finding myself in a situation where I needed to move back to Canada would be detrimental.
My situation is: My husband is a USC, and I am almost at year 4 of my PR. Right now, we both live and work in the U.S., and I would like to become a USC. I am a teacher, making approximately 40,000/yr, and my husband earns about the same.
So IF we were to find a necessity to move to Canada, would I be better off as a USC, or would I be better off just going to Canada, relinquishing my green card, and then doing the whole green card process again when (or if) we returned to the U.S.?
Some things I'm reading suggest that the tax implications for average earners is minimal/nonexistent, but others sound scary, talking about severe tax rates on retirement and investment income. I am young now, but would US citizenship/living in Canada put my future retirement savings/income at substantial tax risk?
Any advice or guidance, or even just other similar experiences would be a huge help! Thanks so much!
My situation is: My husband is a USC, and I am almost at year 4 of my PR. Right now, we both live and work in the U.S., and I would like to become a USC. I am a teacher, making approximately 40,000/yr, and my husband earns about the same.
So IF we were to find a necessity to move to Canada, would I be better off as a USC, or would I be better off just going to Canada, relinquishing my green card, and then doing the whole green card process again when (or if) we returned to the U.S.?
Some things I'm reading suggest that the tax implications for average earners is minimal/nonexistent, but others sound scary, talking about severe tax rates on retirement and investment income. I am young now, but would US citizenship/living in Canada put my future retirement savings/income at substantial tax risk?
Any advice or guidance, or even just other similar experiences would be a huge help! Thanks so much!