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Wednesday, September 08 2010 @ 06:32 AM PDT

Make Your Canadian Mortgage Tax Deductible

Moving Back To Canada?
Call Us to Deal With
Foreign Tax Credits
and Retirement Savings Advice
CEN-TA TAX
Call for an appointment
1-866-980-0499
www.centa.com

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.

Mariana Islands and US Green Cards

Immigration to the Mariana Islands - US Citizens and Green Card Holders question about filing tax returns when they are out of country.

Other Questions answered this evening:

Live in Vancouver, Work in Washington State

Dual PR Card/Green Card - How to keep both

US Citizen Live in BC and Work in Washington State

Question from a mother about whether her son, a US Citizen, could come to Vancouver for the duration of the Olympics as well as longer, stay in Canada (i.e. sleep there) and travel to Washington state to work while doing so.

Sri Lanka - Green Card Holder with Canadian P.R. Card too

Person from Sri Lanka has both US Green Card and Canadian Permanent Resident (PR) card. How to maintain both.

Tag: green card pr card permanent resident canada us sri lanka 183 days ontario

Canadian with RRSP now in US - Can He Administer via Questrade?

A Canadian with an existing RRSP has moved to the US for work. It has been suggested that if he gives his brother's address (in Canada) to Questrade (a Canadian online stock trading company) that he can administer his portfolio over the internet from his US address - is this possible/legal?

 

David's answer




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