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Thursday, May 23 2013 @ 12:59 AM PDT

Make Your Canadian Mortgage Tax Deductible

In 1976 one of David Ingram's tax clients had to borrow money to pay the expenses of his rental property until his tenant received an insurance settlement - about 2 years later. The client, upon receiving all the back rent, asked David if he HAD to pay down the business loan with this money, or could he use it to pay down his mortgage or for any other personal use.

Thus was born the concept of making the mortgage of a business proprietor tax deductible. Along the way from then to now this concept has passed to others, had books written about it, and had bank managers and other financial consultants call the concept "ILLEGAL" - but it isn't, and David proves it in this video. You can read about this in David's November 2001 Newsletter as well.



[key: mortgage interest tax deduction Smith_Maneuver proprietorship rental_income]

 

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