I find that puzzling and i wonder if the agent is incorrect.
My understanding is income from a Canadian Registered Retirement Income Fund (RRIF) does qualify as part of the $80k US$ equivalent income, and I had always understood a Canadian RRIF is partly equivalent to a US 401k in concept. In the case of a Canadian RRIF, one is REQUIRED to withdraw a minimum amount of money every year from age-71 onward. Hence that RRIF income IS assured income, Canadian tax is paid on that RRIF income and it is reported as income on a Canadian tax return.
If I understand correctly - your agent is saying US 401k holders are not treated the same?
You may wish to consider checking on that.
Trumps tax cuts are conservatively estimated to cost the USA about $700 billion per year. And the lower your income is, the greater the burden due to tariffs.
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