Path to legal residency

They are floating the idea of granting legal residency in the USA if you buy a house for at least $500,000.00 or more. Helps with the housing crises. OK Canadians here is your chance to achieve your lifelong dream. Now you can have a house and not have to leave every six months.

Wow, what a deal!!!
The way I understand it , once you bought that place, you also get to file yearly US income tax for the rest of your life on ALL your income world wide regardless if you owe anything or not, and if you forget to file you get to pay a biiiig fine.
Let's all rush out to buy a house in the good ol' USA.

If you are a permanent resident in the USA you would file income taxes here rather than Canada. I'm told this would be a savings. Also, foreign income up to $91,400 per year is exempt.

The foreign earned income exclusion and the foreign housing exclusion or deductions are claimed using Form 2555, Foreign Earned Income, which should be attached to the taxpayer’s Form 1040. A shorter Form 2555-EZ, Foreign Earned Income Exclusion, is available to certain taxpayers claiming only the foreign income exclusion.



Edited 1 time(s). Last edit at 10/21/2011 09:04AM by Zummie1954.

the long arm of the IRS.
this would also apply to any U.S. expats living in Mexico if they are not filing U.S. taxes and FBAR... in 2014 Mexican banks and financial institutions will have to disclose their U.S. customers to the IRS with the introduction of FATCA... i have also heard from an American friend they might be after the Mexican trusts too.

[www.theglobeandmail.com]

Good Deal, a USA house for $500,000 in exchange for legal residency!!! I live in Texas, its very close to Mexico....let me give you the name of my attorney. You can send along your $5's to him in trust for me.......in turn I will definately find you a nice abode, or two, or three or more, for a turnkey price of only $500,000 each.......and I am not a jakeleg realtor, homebuilder, car salesman or anything close so you know this deal is fair and reasonable. I can also guarantee (backed by the Obama Promise) that the attorney will cut you a special deal with your cost related legal residency application....a win win for everyone. Hurry, this deal and opportunity expires January 1 (or so), 2013 when a new replacement Dipstik is sworn in for more White House policy, budget, and general political screw-ups and screw-overs.

HURRY MY FRIENDS, I SAY HURRY, HURRY !!

tedro, isn't it great that non-whites are now the majority in Texas? You know Hispanics are the fastest growing segment of the U.S. Population and they overwhelmingly support Obama. Maybe you can blame Acorn again when Obama is re-elected.

Here is some other info you will like:

Bush:

In two terms he allowed the worst attack on U.S. soil since Pearl Harbor to take place, couldn't find Osama, and started two wars we're STILL fighting today.

Obama:

In one term he killed Osama, has stopped two terrorist attacks, bringing the tally of terrorist attacks on the U.S. soil under his presidency to a whopping 0, ordered Navy SEALs to take out 3 pirates holding an American hostage off the coast of Somalia, has all but secured Iraq and Afghanistan and handed over control to the local government and backed a NATO program of arming and supporting rebels in Libya, who yesterday killed Qaddafi without U.S. troops having to be deployed.

Stock Market: Bush vs. Obama.

G.W. Bush - negative 3.5 percent annually
Obama - positive 20.1 percent annually

Fact: The US stock market performed better under Obama than G.W. Bush by a staggering 23.6 percentage points a year.



Edited 1 time(s). Last edit at 10/21/2011 01:25PM by Zummie1954.

The US president does not take office on the 1st of January.

My father has a house in Canada and a house in US. He spends six moths in each country as that is what he wants AND, that way he can not lose his medicare (OHIP) in Ontario.

I moved to Mexico but as a Canadian with Canadian income, I pay 15% income tax collected at sourse and no longer have to file a returm. Total income tax savings are about 2% but no GST, PST or HST. What I save on those taxes, I lose on medical care here especially since I've had 12 broken bones in 2 years.

Zummie, where did we go wrong ?? Ya tell it like it is and what, ya get slammed. I respectfully apologize to those that are not jakelegs, if your a jakeleg your on yer own !! O' well !!

For those of us not to familiar with the southern slangs, Jakeleg:

I said jake leg, jake leg, jake leg, jake leg.
Tell me what in the world you going to do.
I said I drank so much jake, ooh Lord
Till it done give him the limber leg.
I say I know the jake leg, ooh Lord
Just as far as I can hear the poor boy walk.

[www.worldwidewords.org]

:)

Sandy L........right on !! can be interpreted as "those with no leg to stand on". Can't confim this but I have heard of an 18 wheeler having a jakeleg.....being some sort of equipment thereon, for real.

that would be "Jake Brake"...an engine compression brake that trucks use going down hills...

Jake was a very poisonous booze that caused lots of damage...here's a bit of knowledge on this ginger-based moonshine

What is Jake?
Jake is actually Jamacian ginger extract, marketed and sold as a medicinal tonic for any number of ills. It was available in the United States since about the time of the Civil War, and Americans quickly realized that the nearly 70% alcohol content made "the jake" a way to skirt local or federal laws banning the consumption of liquor. Compared to whiskey, jake was often cheaper, and often had a higher alcohol content. Many drug stores sold Coca-Cola or coffee, which people would then use as mixers for the jake, often using a side room in the store to concoct their drink.
Jake sold between 1920 and 1930 caused no health problems. In the spring of 1930, however, the manufacturers of jake decided to add a new ingredient, an industrial chemical called tri-ortho-cresyl phosphate.

The new ingredient was added to help adulter, or water down, the jake. It was tasteless, soluble with alcohol, and cheap. It also turned out to be highly toxic, particularly to the spinal cord.

DH, thank you, your jakeleg and jake brake info is appreciated.