Mortgage interest deductible in Canada - Fred Snyder, Stuart Rodgers Greg Andrews - international non-resident cross border


My question is: Applicable to both US and Canada

QUESTION: hello David:

Recently I've been emailed repeatedly by an Australian fellow by the name of Greg Andrews of Nu-Media Marketing.  He markets  a program called "Mortgage Phasing".  It is supposed to be a technique (of his design) that greatly accelerates the speed with which one can pay off one's mortgage.  I wonder if you have heard of this person and/or his technique.  Does it have any legitimacy?  Thanks for your help.
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david ingram replies:

I have never heard of Greg Andrews but the method he is pushing throuigh the sale of his $67.00 US book "MORTGAGE PHASING SECRETS" is used by up to 60% of Austalians already.

In Canada, the method has been mentioned many times on This Website and on Fred Snyder's  600AM Suinday morning program "IT'S YOUR MONEY"  - In fact, I would bet we have done asome 100 seminars and 100 radio programs on the subject.

In Canada, the method was brought here by Manufacturer;s Life through Manulife Bank.

Envision Credit Union also has it set up through its RED FROG program.

And, after a lot of explanation, we set it up for a lady client at the North Shore Credit Union last Thursday.

If you go to

http://www.manulifebank.ca/canada/mBank.nsf/Public/mone y

ou will find the Manulife Bank calculator and an explanation of the program which will save you $67.00 US.

If you want to talk to a local MANULIFE BANK representative, the local manager of the program is Stu Rodgers and his phone number is (604) 351-6133.

Fred Snyder also does seminars every Thursday and the system is explained there for Free on a fairly regular basis.

Listen to Fred's program on 600AM every Sunday from 9:00 AM to 10:30 AM  or if you are not in Vancouver, you can tune in at www.600am.com and listen over the internet.

And, if you want more ideas on how to make your mortgage deductible in Canada, goto www.centa.com and read the November 2001 newsletter in the top left hand box.  The first page deals with US tax returns and then it has 11 pages of mortgage dedcutible tips.

_______________________-
david ingram wrote:
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David Ingram's US / Canada Services
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Calls welcomed from 10 AM to 9 PM 7 days a week  Vancouver (LA) time -  (please do not fax or phone outside of those hours as this is a home office)
 
 
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 gives expert income tax & immigration help to non-resident Americans & Canadians from New York to California to Mexico  family, estate, income trust trusts Cross border, dual citizen - out of country investments are all handled with competence & authority.
 
Phone consultations are $400 for 15 minutes to 50 minutes (professional hour). Please note that GST is added if product remains in Canada or a phone consultation is in Canada.
 
This is not intended to be definitive but in general I am quoting $800 to $2,800 for a dual country tax return.
 
$800 would be one T4 slip one W2 slip one or two interest slips and you lived in one country only - no self employment or rentals or capital gains - you did not move into or out of the country in this year.
 
$1,000 would be the same with one rental
 
$1,200 would be the same with one business no rental
 
$1,200 would be the minimum with a move in or out of the country. These are complicated because of the back and forth foreign tax credits. - The IRS says a foreign tax credit takes 1 hour and 53 minutes.
 
$1,500 would be the minimum with a rental or two in the country you do not live in or a rental and a business and foreign tax credits  no move in or out

$1,600 would be for two people with income from two countries

$2,800 would be all of the above and you moved in and out of the country.
 
This is just a guideline for US / Canadian returns
 
We will still prepare Canadian only (lives in Canada, no US connection period) with two or three slips and no capital gains, etc. for $150.00 up.
 
With a Rental for $350
 
A Business for $350 - Rental and business likely $450
And an American only (lives in the US with no Canadian income or filing period) with about the same things in the same range with a little bit more if there is a state return.
 
Moving in or out of the country or part year earnings in the US will ALWAYS be $800 and up.
 
TDF 90-22.1 forms are $50 for the first and $25.00 each after that when part of a tax return.
 
8891 forms are generally $50.00 to $100.00 each.
 
18 RRSPs would be $900.00 - (maybe amalgamate a couple)
 
Capital gains *sales)  are likely $50.00 for the first and $20.00 each after that.
 
Just a guideline not etched in stone. 
 
This from "ask an income trusts 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 Income Tax Convention

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