how do I make my car loan tax deductible? - ask

This is a multi-part message in MIME format.
---------------------- multipart/alternative attachment
Hello David,
I was listening to your radio show last Sunday. You and Fred were saying
that peoples' first goal should be to make all their debts tax =
I am looking to purchase a new car for my fiancee. I would need to get a
car loan with zero down because we just purchased a new house and are =
paying for a wedding so money is really tight right now. My fiancee's =
is on its last legs so we would like to get one in the next little =
How would I make this car loan tax deductible? Is it even possible in my
case with my current situation?
- Both of us work for corporations. We don't have our own businesses.
- We don't have any money to put down on the car
- All of the investments that we have are in our RRSPs
- I am 26 years old, she is 30 years old
PS: I'm making my mortgage tax deductible!
Thx for the help!
david ingram replies:
If you are already working at making your mortgage deductible, you are =
on the right track.
But it sounds like you are in a bind as far as the car loan goes.
Sometimes, time works against us.  My present divorce, for instance, =
means that at age 61, the mortgage on the house I am living in is not =
deductible for the first time in 30 years. =20
That fact alone is wasting more than $1,000 a month in tax dollars =
because it could have been 100% deductible by now.=20
You can find more ideas by reading the November 2001 Newsletter at =
Just remember=20
A good friend will come and bail you out of jail...but, a true friend =
will be sitting next to you saying, "Damn...that was fun!"=20
Answers to this and other similar  questions can be obtained free on Air =
every Sunday morning.
Every Sunday at 9:00 AM on 600AM in Vancouver, Fred Snyder of Cartier =
Partners and I will be hosting an INFOMERCIAL but LIVE talk show called =
Those outside of the Lower Mainland will be able to listen on the =
internet at
Local phone calls to (604) 280-0600 - Long distance calls to =
Old shows are archived at the site.
This from ask an income tax immigration planning and bankruptcy expert =
consultant guru or preparer  from or or = Canadian David Ingram deals daily with tax returns =
dealing with expatriate:
multi jurisdictional cross and trans border expatriate gambling refunds =
for the United States, Canada, Mexico, Great Britain, the United =
Kingdom, Kuwait, Dubai, Saudi Arabia, South Africa,  Thailand, =
Indonesia, Egypt, Antarctica,  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, American and Canadian and Mexican and any of the 43 states =
with state tax returns, etc.
income tax wizard wizzard guru advisor advisors experts  specialist =
specialists  consultants taxmen   taxman tax woman planner planning =
preparer of Alaska,  Alabama,  Arkansas,  Arizona,=20
 California Denver  Colorado, Connecticut, =20
Delaware District of Columbia Miami  Florida,=20
Garland Georgia,  Honolulu Hawaii,  Idaho,  Illinois,
  Indiana  Des Moines Iowa  Kansas  Kentucky,=20
 Louisiana  Bangor Maine  Maryland =20
 Boston, Massachusetts, Michigan, Minnesota, =20
Mississippi,  Missouri,  Montana,  Nebraska, =20
Nevada, New Hampshire,  New Jersey,=20
New Mexico,New York, North Carolina, =20
North Dakota,  Ohio,  Oklahoma,  Oregon.=20
Paris,  Rome, Sydney, Australia Hilton
Pennsylvania,  Rhode Island,  Rockwall,=20
South Carolina, South Dakota, Tennessee, =20
Texas,  Utah, Vermont,  Virginia,=20
West Virginia, Wisconsin, Wyoming,=20
British Columbia, Alberta, Saskatchewan,=20
Manitoba, Ontario, Quebec City,=20
New Brunswick, Prince Edward Island,=20
Nova Scotia, Newfoundland, Yukon and=20
Northwest and Nunavit Territories, =20
Mount Vernon, Eumenclaw, Coos Bay=20
and Dallas Houston Rockwall Garland=20
Texas  Taxman and Tax Guru  and wizzard=20
wizard - David Ingram's US/Canada Services
US/Canada/Mexico Tax Immigration & working Visa Specialists
US / Canada Real Estate Specialists
4466 Prospect Road
North Vancouver,  BC, CANADA, V7N 3L7
Calls accepted from 10 AM to 10 PM 7 days a week
Res (604) 980-3578 Cell (604) 657-8451
Bus (604) 980-0321=20
[email protected]
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 & =
the author and any and all non-contractual duties are expressly denied. =
All readers should obtain formal advice from a competent financial, or =
real estate planner or advisor & appropriately qualified legal =
practitioner, tax or immigration specialist in connection with personal =
or business affairs such as at If you forward this =
message, this disclaimer must be included."
---------------------- multipart/alternative attachment
An HTML attachment was scrubbed...
---------------------- multipart/alternative attachment--


Trackback URL for this entry:

No trackback comments for this entry.