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US/Canada Tax Obligation - Toronto Canadian PR, Working in Chicago Illinois US on H1B1 visa

UESTION:

Hi,

I am single and have no dependents nor anybody can claim me dependent. I have no real estate propert or assets in US or Canada.

I landed in Canda (Tronto area) in Sept 2001 and have been living and working in Chicago, IL, US since Oct 2002 on job visa H1B1. I havn't visited Canada since I left for US. But I plan visiting Canada for a week or so.

I have Canadian driver's license and bank a/c. Please let me know if I need to file Candian Taxes (provincial, fedral or any other category) and if this period of stay away from Canada would be considered as time toward Canadian Citizenship as I would be paying some kind of Canadian Tax. My employer is a US firm.

Thanks,
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URGENT - Friend wants to visit the US from Finland

Hi David,
I called your info number and heard email is the best way to get answers. I hope you can help me.

1. My question is has the entry to USA for former visa violators gotten harder since 9-11?

A friend of mine is coming for a week long vacation from Finland and she stayed in Usa over the three months allowed without a visa in 1996. She has since then traveled here for short vacations in 99 and 2000 without trouble. But now there has been news in Finland of denied entrys for people that violated their visas over 10 years ago.

2. Can the airport staff decide on who gets in that irrationally and not according to the law?


3. Or has a new law been signed concerning this issue over Bill Clintons Illegal Immigrant and Legal Immigrant Responsibility Act of 1996?
Are the entries and exits of visitors visiting without a visa actually recorded?

4. Is there a difference according to where you fly? She will be flying to Los Angeles.?Do you have any info of practises there?

Your answer will be greatly appreciated as other peoples trip will be decided also upon this. It is way too expensive to fly over just to find out that you are not welcomed.

Sincerely

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Revolving Line of Credit for Rental Properties


QUESTION:

Someone told me that they found an article on your website about using a
revolving line of credit for your revenue (rental) properties.

This was my understanding of it (example):
- your renters would pay you $2000/month
- the line of credit against the rental house / mortgage would increase by
$2000/month.
- you take the $2000 from the renters and apply to your personal private
mortgage.

As I see, the advantages of this would be that you would pay of your
personal mortgage first and the expense on your interest for your rental
property would be the maximum, as the mortgage for that property would not
decrease until your private mortgage is paid off (thus a higher deductable
amount for the rental property).

Is this legal? Can it be done? And is there an article on your website
that explains this in more detail?

Thank you,
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Canadian wants to know about declaring income from an illegal rental suite.

My question is: Canadian-specific

QUESTION: We have an illegal basement suite in our home that we have just started renting out. We don't know if we should claim the income. If we claim the income we will have an extra $100 per month after taking off the expenses including the mortgage interest. Therefore I don't see the benefit
of claiming this income.

The expenses that I have taken into consideration are mortgage interest, taxes, utilities and I have only used 30% of these since this is the percentage of the house that is the basement suite.
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Windsor to Detroit Daily Commute.

QUESTION:

Hi,
I commute from Windsor, ON to Detroit, MI daily for work. Can I include bridge/tunnel toll charges as itemized deduction on U.S. income tax?
Thanks
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History Lesson

General News david says "Thanks to Klondike Kate for this one which I haven't seen since Joe Clark was Prime Minister."

History Lesson


Humans existed as members of small bands of nomadic hunters and gatherers. They lived on deer in the mountains during the summer and would go to the coast and live on fish and lobster in winter.

The 2 most important events in all of history were the invention of beer and the invention of the wheel. The wheel was invented to get man to the beer. These were the foundation of modern civilization and together were the catalyst for the splitting of humanity into 2 distinct subgroups: Liberals and Conservatives.
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Correction - A non US citizen Saudi Arabian estate tax

Hi David.

Only when there is a treaty rate available do nonresidents of the US get the
full 1,500,000 exemption for estates.

Saudi residents and most others only get a unified tax credit of $13,000.
That equates to an exemption of $60,000. Nonresidents are allowed to use the
alternative valuation date like citizens.

Also, every state has different rules for their state estate tax.

Regards;
Gary

Gary P Gauvin LLC
Tax Services
2500 Rochelle Rd
Rockwall TX 75032
Phone & Fax (469) 273-3399
[email protected]
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Canadian husband wants to transfer his rental condo to his wife.

My question is: Canadian-specific

QUESTION: I originally purchased a condo in 1991 as my sole residence, but converted it to rental in 1996 when my girlfriend and I acquired a house in joint title. The condo stayed in my 100% ownership. In 2000 we were married and are now at a stage where it makes sense for my wife to claim as much of the rental income as possible (a mortgage of $ 50K remains; original price $ 98K and current market is around $ 145K). However, we wish to avoid capital gains or the attraction of any other levy or violation of any type of attribution rule. Can you recommend a way to achieve this? Although we would prefer a 100% transfer of the asset to her name, we are amenable to 50% - if this makes a difference?
Thank you.
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CANADIAN/US Dual Citizen RUNNING A MOTORHOME BUSINESS BETWEEN MEXICO AND US

Hi Davie....?????? here.How are you doing?I was going to e-mail
you tomorrow, but no time like now time. Dave I am starting a tour
business to Baja...Its somewhat unique. I will take couples on a
tour of Baja in my motorhome.

I plan to start up next winter.What state is the best to
get a business license and register...I assume a state with no
tax....What do you think?.......I trust you're keeping well?
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Taxes where will I pay? - American moving to Canada while continuing to work part time in the USA

QUESTION:

I am a US citizen who is moving to Canada with my partner who is also a US
citizen. My partner has accepted a job in Canada, I am going to continue to
work for my current US employer 50% of the time in Canada and 50% of the
time in US. I will be in Canada most weekends. I am moving to Canada in
late June 2004. Am I correct to assume that for the first year where I will
be in Canada less than 1/2 of the year I will not need to file Canadian
taxes? After the 1st year first year, I presume I will? Is this correct.