Division of RRSP's on divorce or separation - Canadian-USA-Global tax help - david ingram expert US CANADA cross border


My_question_is: Canadian-specific

question: As part of the settlement of the division of property, 
can RRSP's be rolled over tax free into your spouses name.

If it is allowable, does it need to occur prior to a divorce being granted or after.

Deducting US (or Canadian) Mortgage Interest on a US 1040 Tax return when there on a TN, H1, L1, O1, P1, etc. FormsT1161, 889

XXXXXX XXXXXX wrote:

Below is the result of your feedback form.  It was submitted by
XXXXXX XXXXXX on Friday, July 17, 2009 at 16:14:53
---------------------------------------------------------------------------

My_question_is: Both

question: I was a Canadian working in the US under a TN Visa. I purchased property in the US and would like to know if I am eligible to deduct the mortgage interest from my American mortgage from my American income.

Kay Ackles - Living with Football Great Bobby Ackles - and Your Tax Questions

My Guest on Around the World on July 15th was Kay Ackles, widow of Bobby Ackles who passed a year ago as the General manager of the BC Lions Football Club of the CFL after literally starting as the Water Boy

You'll enjoy this wonderful insight into what it was like to live around the football greats of the CFL, NFL and even the XFL as they moved from Vancouver to Dallas, Phoenix, Philadelphia, Miami, Las Vegas and then back here to BC. Some of the stories have not been told before.

Wednesday July 15, 2009, my first Guest was Kay Ackles, widow of Bobby Ackles, who passed away in July 2008. She was the lady behind the man. The one who did the entertaining and kept things going when he was up to his neck.

Bobby, of course, was the General Manager of the BC Lions and former General manager of the XFL's Las Vegas Outlaws before returning to Vancouver and the BC Lions as General Manager, a team for which he had started as the Water Boy (also the title of his book with Ian Mulgrew).

In between, Bobby worked with the Dallas Cowboys, Philadelphia Eagles, Miami Dolphins, and Phoenix Cardinals in the NFL. Kay's story as the wife who did all the entertaining, etc., is fascinating.

Their son, Scott Ackles is now the President of the Calgary Stampeders.

What do you think about this approach in saving Tax money. - charity tax schemes in Canada - same as in USA Stay Away -


My_question_is: Canadian-specific

question: Hi David, I met one guy recently and he is proposing this way of saving on Tax money

Here is the site: http://www.save-canada.com:80/

What do you think about this one?
Thanks

Sale of Real Estate by factual resident of Canada income Tax Help on the Web re cross border investment and mutual fund investme

My_question_is: Canadian-specific   I need cross border income tax help

question: I have been working/living in the US for past 5 years and for all the previous tax years (2004-2007) I was considered as a factual resident based on the fact that I owned a Condominium and my intention to return.   For tax year 2008, I intended to maintain my factual residency by returning to Canada as the job situation was turning uncertain. However following events took place -- I sold my property in February 2008, Got a new job, and got married to Indian citizen who lives with me in the US.  Based on the definition it appears that somewhere in 2008 I lost my ˜significant residential ties™ and am a non resident.  Now the question: what are the tax implication for the property which I sold early in 2008.  The property was vacant for entire 2007 and rented 2005 and 2006 (I reported the rental income).

Do You Have to Pay Income Tax on Selling a House - tax free in Canada if personal residence - up to $250,000 tax free in the US.

Do you have to pay income tax on selling a house?  Would you consider giving me a hand or at least some advice based on your experience?
Would you consider giving me a couple pointers?
I really appreciate your help.
Gratefully,

Taxation of Canadian maternity benefits for US resident working for the Canadian Government - form 8833

question: Hello,
I had a question about Canadian paid maternity benefits. I am a Canadian Government worker who lives in the US and commutes daily. Right now my income is not taxable in the US under section XIX of the tax treaty. My question is, would the maternity benefits that I would receive from Service Canada and the top up that my employer contributes be taxable in the US?
Also I had a question about IRAs. I have read about IRAs becoming taxable once someone moves back to the Canada, but I am assuming it would immediately taxable in my case as I continue to pay taxes to Canada because of my employment?

Thank you

Collecting EI for Canadian worked in US Cross Border Income Tax and Employment Insurance and Immigration Help with david ingram

Dear David,  please tell me/us whether Canadians who temporarily work in the USA paying all taxes properly are eligible to receive Canadian EI in case their work in the USA got terminated?
thank you,

tax deductable mortgage in Canada Red Frog Program Richard Rochard, Glen Kelleway, Fred Snyder Importance of a Written Plan

I have just refinanced my house and withdrawn some equity. I planned to use some of the equity to pay off a line of credit. I now realise (thanks to you) that I could make the additional amount that I have put on my mortgage tax deductable - if I play my cards right.

I have a rental property the rental income from which I now plan to use to pay off the line of credit. The equity that I recieved from the refiance I plan to use to pay the mortgage on the rental property. If my understanding is correct this would make that portion of the refiance tax deductable.

The only problem is that it will take me many months to pay off the line of credit as my rental income is not that high. I am paying non tax deductable interest on the line of credit while I have the money (from the house equity) to pay it off in full sitting in a savings account earning a poultry amount of interest.

My question is "can I put the equity into the line of credit and use the line of credit only on mortgage and other expenses for the rental property and still claim that the refianace is tax deductable? Or would the refiance be considered to be used to pay off a personal debt (thereforenot tax deductable) and the paper trail end there?"

If I could do this it would allow me to "save" my rental income while keeping my interest payments at a minimum. If I can do this would be able to also be able to "save" my rental income in the line of credit, therefore keeping it always paid off? eg. $1000 out of the line of credit to make the mortgage payment, $1000 into the line of credit from the rental income to bring the balance back to $0.

Thanks for your help

American selling Montreal Property needs Income Tax Help with forms T2062 T2062A T2091 and TDF 90-22.1

I am hoping you can answer a tax question for me. I am a US citizen with my primary residence in Florida. I bought a condo in Montreal 6 years ago and would like to sell it now. I have been renting the condo on and off for the past six years with short vacation stays there myself in between. I have been reporting my income and expenses on a schedule E 1040 US tax form - always as a slight loss over the past six years. I have never reported any income or loss with the the Canadian IRS as my accountant said that was fine as long as I didn't have a surplus income from renting the property.

My question is am I just liable for the capital gain in the US or do I also have to pay capital gains in Canada when I sell the property and if so, how would I calculate the amount?

I appreciate any advice you could give to minimize the tax liability in this situation.

Thank-you,

Division of RRSP's on divorce or separation - Canadian-USA-Global tax help - david ingram expert US CANADA cross border

Deducting US (or Canadian) Mortgage Interest on a US 1040 Tax return when there on a TN, H1, L1, O1, P1, etc. FormsT1161, 889

Kay Ackles - Living with Football Great Bobby Ackles - and Your Tax Questions

What do you think about this approach in saving Tax money. - charity tax schemes in Canada - same as in USA Stay Away -

Sale of Real Estate by factual resident of Canada income Tax Help on the Web re cross border investment and mutual fund investme

Do You Have to Pay Income Tax on Selling a House - tax free in Canada if personal residence - up to $250,000 tax free in the US.

Taxation of Canadian maternity benefits for US resident working for the Canadian Government - form 8833

Collecting EI for Canadian worked in US Cross Border Income Tax and Employment Insurance and Immigration Help with david ingram

tax deductable mortgage in Canada Red Frog Program Richard Rochard, Glen Kelleway, Fred Snyder Importance of a Written Plan

American selling Montreal Property needs Income Tax Help with forms T2062 T2062A T2091 and TDF 90-22.1

Monday 06-Dec

Sunday 05-Dec

Friday 15-Oct

Wednesday 15-Sep

Tuesday 14-Sep