deferring internal earnings in

Date: Wed Apr 26, 2006 9:06:11 AM Pacific/Honolulu
To: centapede at lists.centa.com
Subject: question re deferrning internal earnings in RRSP's
Question is for US residents re RRSP funds and filing Form 8891
Hi David,
Could you please elaborate further on this comment you made when
recently answering a question. There are probably quite a few of
us in the US with RRSP's that think we should be deferring the
internal earnings. So I taking this to mean that paying the taxes
on the dividend and interest income within the fund as we go will
be less in the long run that waiting until we taking it out
during retirement.
2. You have discovered the great secret. Most people get no
benefit from
deferring the internal earnings on the RRSP.
,
Sincerely,
-----------------------------------
  david ingram replies;
  As happens sometimes, I answered a specific question in
generalities.  What I was referring to applied to the writer and
other residents of Canada (or France or Germany or any other
country).
  In this case, the writer was a resident of Canada and as such,
would usually not get any benefit from deferring the internal
earnings on their RRSP.  On the other hand, it is likely easier
and cheaper in the long run to just go ahead and defer than it is
to not defer.  Not deferring, means a more detailed accounting
which will cost more in accounting fees.
  For those residing in the USA like yourself, deferring will
always save in the long run .
  ========================
  David Ingram's US / Canada Services
  US / Canada / Mexico tax, Immigration and working Visa
Specialists
  US / Canada Real Estate Specialists
  My Home office is at:
  4466 Prospect Road
  North Vancouver,  BC, CANADA, V7N 3L7
  Cell (604) 657-8451 -
  (604) 980-0321 Fax (604) 980-0325
  Calls welcomed from 10 AM to 10 PM 7 days a week  Vancouver
(LA) time -  (please do not fax or phone outside of those hours
as this is a home office)
  email to taxman at centa.com
  www.centa.com www.david-ingram.com
  Disclaimer:  This question has been answered without detailed
information or consultation and is to be regarded only as general
comment.   Nothing in this message is or should be construed as
advice in any particular circumstances. No contract exists
between the reader and the author and any and all non-contractual
duties are expressly denied. All readers should obtain formal
advice from a competent and appropriately qualified legal
practitioner or tax specialist for expert help, assistance,
preparation, or consultation  in connection with personal or
business affairs such as at www.centa.com. If you forward this
message, this disclaimer must be included."
  Be ALERT,  the world needs more "lerts"
  David Ingram specializes in giving expert income tax and
immigration help to American and Canadian citizens living out of
their home countries from New York to California to Saudi Arabia
to Mexico to China or Chile - Cross border, Non-resident - dual
citizen - out of country investments are all handled with
competence and authority.
  This from "ask an income tax and immigration expert" from
www.centa.com or www.jurock.com or www.featureweb.com. David
Ingram deals on a daily basis with expatriate tax returns with:
  multi jurisdictional cross and trans border expatriate problems
for the United States, Canada, Mexico, Great Britain, United
Kingdom, Kuwait, Dubai, Saudi Arabia, Thailand, Indonesia, Japan,
China, New Zealand, France, Germany, Spain, Italy, Russia,
Georgia, Brazil, Peru, Ecuador, Bolivia, Scotland, Ireland,
Hawaii, Florida, Montana, Morocco, Israel, Iraq, Iran, India,
Pakistan, Afghanistan, Mali, Bangkok, Greenland, Iceland, Cuba,
Bahamas, Bermuda, Barbados, St Vincent, Grenada,, Virgin Islands,
US, UK, GB, and any of the 43 states with state tax returns, etc.
Rockwall, Dallas, San Antonio Houston
  Denmark, Finland, Sweden Norway Bulgaria Croatia Income Tax and
Immigration Tips, Income Tax  Immigration Wizard Antarctica
Rwanda Guru  Consultant Specialist Section 216(4) 216(1) NR6 NR-6
NR 6 Non-Resident Real Estate tax specialist expert preparer
expatriate anti money laundering money seasoning FINTRAC E677
E667 105 106 TDF-90 Reporting $10,000 cross border transactions
Grand Cayman Aruba Zimbabwe South Africa Namibia help USA US
  international non-resident cross border income tax help
assistance expert preparation & immigration consultant david
ingram, experts on rentals mutual funds RRSP RESP IRA 401(K) &
divorce preparer preparers consultants
  Alaska,  Alabama,  Arkansas,  Arizona,
  California,  Colorado, Connecticut,
  Delaware, District of Columbia,  Florida,
  Garland, Georgia,  Hawaii,  Idaho,  Illinois,
  Indiana,  Iowa,  Kansas,  Kentucky,
  Louisiana,  Maine,  Maryland,
  Massachusetts, Michigan, Minnesota,
  Mississippi,  Missouri,  Montana,  Nebraska,
  Nevada, New Hampshire,  New Jersey,
  New Mexico, New York, North Carolina,
  North Dakota,  Ohio,  Oklahoma,  Oregon.
  Pennsylvania,  Rhode Island,  Rockwall,
  South Carolina, South Dakota, Tennessee,
  Texas,  Utah, Vermont,  Virginia,
  West Virginia, Wisconsin, Wyoming,
  British Columbia, Alberta, Saskatchewan,
  Manitoba, Ontario, Quebec City,
  New Brunswick, Prince Edward Island,
  Nova Scotia, Newfoundland, Yukon and
  Northwest and Nunavit Territories,
  Mount Vernon, Eumenclaw, Coos Bay
  and Dallas Houston Rockwall Garland
  Texas  Taxman and Tax Guru  and wizzard
  wizard - consultant - expert - advisor -advisors consultants -
gurus - Paris Prague Moscow Berlin
  Lima Rio de Janeiro, Santaigo Zimbabwe
   David Ingram expert income tax help and preparation of US
Canada Mexico non-resident and cross border returns with rental
dividend wages self-employed and royalty foreign tax credits
  New York, Boston, Sacramento, Minneapolis, Salem, Wheeling,
Philadelphia,
  Pittsburgh, Atlanta, Pensacola, Miami, St Petersburg, Naples,
Fort Myers,
  Cape Coral, Orlando, Atlanta, Arlington, Washington, Hudson,
Green Bay,
  Minot, Portland, Seattle, St John, St John's, Fredericton,
Quebec, Moncton,
  Truro, Atlanta, Charleston, San Francisco, Los Angeles, San
Diego,
  Sacramento, Taos, Grand Canyon, Reno, Las Vegas, Phoenix, Sun
City, Tulsa,
  Monteray, Carmel, Morgantown, Bemidji, Sandpointe, Pocatello,
Bellingham,
  Custer, Grand Forks, Lead, Rapid City, Mitchell, Kansas City,
Lawrence,
  Houston, Albany, Framingham, Cambridge, London, Paris, Prince
George, Prince
  Rupert, Whitehorse, Anchorage, Fairbanks, Frankfurt, The Hague,
Lisbon,
  Madrid, Atlanta, Myrtle Beach, Key West, Cape Coral, Fort
Meyers,   Berlin, Hamburg
  Warsaw, Auckland, Wellington, Honolulu, Maui, Kuwait, Molokai,
Beijing,
  Shanghai, Tokyo, Manilla, Kent, Winnipeg, Saskatoon, Regina,
Red Deer, Olds,
  Medicine Hat, Lethbridge, Moose Jaw, Brandon, Portage La
Prairie, Davidson,
  Craik, Edmonton, Calgary, Victoria, Vancouver, Burnaby, Surrey,
Edinburgh,
  Dublin, Belfast, Glasgow, Copenhagen, Oslo, Munich, Sydney,
Nanaimo,
  Brisbane, Melbourne, Darwin, Perth, Athens, Rome, Berne,
Zurich, Kyoto,
  Nanking, Rio De Janeiro, Brasilia, Colombo, Buenos Aries,
Squamish,
  Churchill, Lima, Santiago, Abbotsford, Cologne, Yorkshire,
Hope, Penticton,
  Kelowna, Vernon, Fort MacLeod, Deer Lodge, Springfield, St
Louis, Centralia,
  Bradford, Stratford on Avon, Niagara Falls, Atlin, Fort Nelson,
Fort St
  James, Red Deer, Drumheller, Fortune, Red Bank, Marystown, Cape
Spears,
  Truro, Charlottetown, Summerside, Niagara Falls, Albany
Zimbabwe
-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://www.centa.com/CEN-TAPEDE/centapede/attachments/20060426/931ee637/attachment.htm

Trackback

Trackback URL for this entry: http://www.centa.com/trackback.php/UsCaWeekofMon20060424002622.html

No trackback comments for this entry.

0 comments