I just got through doing my American federal and state income tax returns on Turbo Tax, and one of the questions that came up was whether I had a Canadian registered retirment savings plan (RRSP) or Canadian registered retirement income fund (RRIF).
What are these plans, and what advantages are there to putting my money in one of these plans? I guess since Turbo Tax is asking me about it, other Americans must be doing it, and I am wondering what advantage there is, if any, to these retirement plans. I assume these are like IRAs but what advantages do they provide?
What are these plans, and what advantages are there to putting my money in one of these plans? I guess since Turbo Tax is asking me about it, other Americans must be doing it, and I am wondering what advantage there is, if any, to these retirement plans. I assume these are like IRAs but what advantages do they provide?
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