QUESTION: Hi David,
My question is hopefully simple. Thank you for taking the time to answer
it.

My husbands father wants to add his name to the property titles that he holds
in Costa Rica. Does this make my husband responsible for taxes, etc. to
those properties?

Also, since we have just gotten married, if he adds his name to those titles,
does that make me just as responsible for the taxes, etc??

The last question I have is that if my husband puts his name on the titles
of the prorperties, will he have to continue to go back to Costa Rica if for
example his father decides to sell the property?? Is my husband's signature
required in order for his dad to sell the property??

Is there any other place that I could research this information??

Thank you so very much for taking the time to answer this question. I really
appreciate it and it has saved me many headaches now that i am clear on what
we are getting into.

Hello,

We are based in US and would like to do corp-to-corp
contract with a Canadian based company which supplies
us a consultant to work in the US. Will there be any
issues in doing this corp-to-corp contract? Please let
me know.

Thanks for your help

My question is: Canadian-specific

QUESTION: I am selling, at the same time, the residence I reside in, as well
as an investment property which happens to be located right next door to my
home. I've signed the same real estate agent to both listings in exchange
for a favourable arrangement on the commission. My question is: What is the
best way for us to structure the agent's commission between the two
properties in order to place the bulk of the commission on one property (or
the other) in order to minimize capital gains on the investment property?
Thank you very much for taking the time to answer my question.

My question is: Canadian-specific

QUESTION: I bought a half-duplex in Strathcona for 390k in July 2005. I
intended to keep it for about 3-5 years before selling (took a 5 yr. closed
mortgage at 4.1%, with about 100k down). It is tenanted at $1850/mo. I just
had it appraised and as a result (it was appraised at 441k), have decided to
put it up on the market in January 2006, and use the proceeds as a
downpayment on a legal triplex that I will live in while renting out the 2
other suites (completion on triplex to be complete March 2006). My question
is: because I am essentially "flipping" the half-duplex, will I be taxed on
it as straight income, or as a capital gain? Also, are there any
implications that I should be aware of regarding selling one investment
property in order to finance another "partial" investment property? Also of
note may be the fact that I have been underemployed this past year and will
have very little incoome to report in 2005 - but since the sale and purchase
of the 2 properties will occur in early 2006, is this even relevant? It all
seems terribly complicated and I'd be extremely grateful for any insight you
could share on this matter.

QUESTION: I am a US citizen who has been living and working in Canada for
the last 12 years as a landed immigrant. I have been filing both US and
Canadian taxes each of these 12 years. I would like to know whether I can
still contribute to a US IRA account that was establish prior to me coming
to canada. Would this be considered a tax haven avoidance measure by
revenue canada?

David,
I recently married a girl from Maryland. I am a Canadian citizen but have no property in Canada just a Bank account - OHIP - car registration and Canada Pension ( I am 65)
My wife is five years younger and has a very good job.
We have been advised we have to file a joint tax return.
Does this mean my only source of income - my pension - is taxed in Canada and then added to her income to be taxed again at a really high rate in US ?
OR do they effectively add our incomes together and then average them between two people so it lowers the rate she pays?
Is it worth me keeping Canadian citizenship and pension if the former is the case?
How do they calculate the exchange rate as my pension is paid monthly throughout the year?
Many thanks for your great source of info

QUESTION: I am an Alaskan Native Indian. My question is, does my status as a
Native American give me any rights to live/work in Canada?

My question is: US-specific

QUESTION: Hello, My fiance and I want to start investing in real estate. We
plan to by an apartment building in Missouri where I'm a student, but he
lives in Louisianna and files personal taxes there. Should we file for a
business tax id in Missouri or Louisianna?

Hi David -

I sure would appreciate your opinion on this one.

I am a Canadian student at a community college (not a university) in the U.S. My visa status is F-1. I am working towards an Associate degree, not a Bachelor's degree.
Can I deduct my tuition fees on my Canadian income tax? Form TL11A is titled "Tuition and Education Amounts Certificate - University Outside Canada" and I sure hope that it applies to me even though I am at a community college.
The other form - TL11D - is for a deemed resident of Canada, and seems to include both universities and colleges. Would I be considered a "deemed resident"? I am away for a few years but will be returning to Canada at the end of my course.

There has to be some way that I can claim $8000 of tuition fees against my Canadian income!

Thanks for your help!