Search found 3 matches
- Sun Jun 06, 2021 1:27 am
- Forum: Canada / United States Tax & Accounting
- Topic: Taking out a mortgage on a Canadian investment property - when is the interest deductible in the US?
- Replies: 1
- Views: 7093
Taking out a mortgage on a Canadian investment property - when is the interest deductible in the US?
Here's my situation: -- I am a US resident for tax purposes (live in US, greencard) and a Canadian citizen -- I have an investment property in Canada that is rented out, and there is currently no mortgage on this property -- I have a primary home in the US, and a mortgage on it that is >$750k, so th...
- Sun Apr 28, 2019 1:43 pm
- Forum: Canada / United States Tax & Accounting
- Topic: How does Windfall Elimination Provision interact with taking CPP early?
- Replies: 6
- Views: 3108
Re: How does Windfall Elimination Provision interact with taking CPP early?
Thanks. So you can take CPP from 60, and SSA from 62. From your answer it clearly makes sense to take CPP from 60, assuming I'm either working in the US or retired at that time. Then the question is, when should I take SS? If I'm retired that that time it would seem to make sense to take it at 62? R...
- Sun Apr 28, 2019 7:00 am
- Forum: Canada / United States Tax & Accounting
- Topic: How does Windfall Elimination Provision interact with taking CPP early?
- Replies: 6
- Views: 3108
How does Windfall Elimination Provision interact with taking CPP early?
WEP reduces your social security benefit by up to half your CPP benefit. What happens when you take CPP early? Your CPP amount will be reduced by up to 36% by taking it early as possible. Does that reduce the clawback as well? In other words, if by taking it early you got a $320 monthly CPP payment ...