Reviews

We review books that deal with everything from financial independence topics to politics, and anything in between. We may sometimes stray into films and music if there is a “Findependence” angle.

Tax issues for Americans with ties to Canada (& vice versa)

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Brian Wruk

By Brian Wruk, CFP

Special to the Financial Independence Hub

As the Canadian tax deadline quickly approaches, the process of gathering all your tax slips, back-up for your deductions and getting them to your accountant begins or, maybe you are installing the latest tax software. Regardless, if you are a Canadian with some form of tax ties to the U.S., you may need to file a U.S. tax return as well. What kind of ties?

Let’s go through three of the most common ones:

  1. U. S. Citizenship – With all the media coverage, it is becoming common knowledge that being a U.S. citizen means you have to file a U.S. Form 1040 tax return. This is even more difficult to hide from the IRS since Canada signed an agreement that requires Canadian financial institutions to report all financial information tied to a “U.S. person.” This is all part of the IRS Foreign Account Tax Compliance Act (FATCA) initiative to crack down on U.S. citizens evading taxes through foreign accounts. Canadian financial institutions are reporting this information to Canada Revenue Agency, which in turn will provide that to the IRS as permitted by the Canada/U.S. Tax Treaty and the IRS will be looking for a tax return and the appropriate disclosures (FBARs).

Continue Reading…

Book Excerpt from The Wills Lawyers: The Knife in Dad’s Heart

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I will be one of four speakers tonight at The Financial Show in downtown Toronto. Three books will be distributed, including Findependence Day and The Wills Lawyers. The authors/wills & estates lawyers provided the Hub with a sample excerpt of their book below, a sad little tale that starkly reveals the need to have a will in place before the inevitable occurs. As it has already been published, we have not altered the text.  — JC

Les&BarryBy Les Kotzer and Barry Fish, The Wills Lawyers

Special to the Financial Independence Hub

It’s not as if Kayla and her three brothers had always gotten along with each other; but when Dad’s health started to go downhill, all four siblings agreed amongst themselves that in Dad’s presence, they would never argue and would never speak of sickness or death. All they agreed to speak of in his presence was the upbeat, the comical, only those special warm subjects that make people happy. Continue Reading…

Three views of Putin’s Russia: one fiction, two reality

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9780374533106_day-of-the-oprichnikBy Jonathan Chevreau

Day of the Oprichnik is a futuristic Russian novel has little to do with Financial Independence but with that disclosed, let me add that I think investors need to keep a close eye on what remains the United States’ biggest nuclear rival.

This week’s issue of The Economist is a good place to start, with a cover story on Vladimir Putin:  Putin’s War on the West, as well as this in-depth feature on What Russia Wants.

As we noted in an earlier Hub review of a trio of books on Putin’s Russia, when you add in the geopolitics of plunging oil prices and the perpetual skirmishes with the Chetchens  and the escalating brinkmanship in the Ukraine, it might be useful for investors to keep tabs on this rogue Capitalist state.

As so often is the case, art sometimes imitates life and sometimes anticipates it. Day of the Oprichnik was published nine years ago and is looking more and more prescient. Vladimir Sorokin, born in 1955, is a prize-winning novelist based in Moscow and also wrote The Ice Trilogy. Day of the Oprichnik was published in Russia in 2006 and the first American translation was only in 2012.

Below, we also look at two more recent non-fiction books on Putin’s Russia: 2013’s Fragile Kingdom and the just-published (2015) Red Notice.

Destined for Silver Screen?

But first, back to the novel. To sum it up in a sentence, I’d say Day of the Oprichnik is a combination of A Clockwork Orange and Fahrenheit 401, Continue Reading…

Are you ready for The Big Shift?

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bigshiftBy Jonathan Chevreau

If you’re intrigued by the kind of content we publish on the Hub, you should be fascinated by The Big Shift, a book published originally in 2011 by Marc Freedman.

The subtitle tells it all: Navigating the New Stage Beyond Midlife. Freedman is a “social entrepreneur” who founded a firm called Civic Ventures (now Encore.org), and previously published (in 2007) a book called Encore: Finding Work That Matters in the Second Half of Life. We’ll review that in the next few weeks.

Both books have crystallized my thinking of what this site is all about, so much so that we have renamed the fifth of our six major blog categories Encore Acts, (from the previous IBusiness Ownership). As we noted in Saturday’s new weekly wrap, an Encore Act may or may not include entrepreneurship but there are many Encore Acts that may not involve launching a new business.

The Longevity Bonus: centenarians galore?  Continue Reading…

Will “Unretirement” launch your Encore Act?

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BN-ER243_bkrvun_GV_20140923135029By Jonathan Chevreau

Unretirement is a concept not unlike Findependence or Financial Independence; it’s also the title of a recently published book by Chris Farrell, Bloomberg Businessweek columnist and senior economics contributor for American Public Media’s syndicated radio show, Marketplace.

I’ve also seen the term Unretirement used by Sun Life Financial in Canada but that seems to be more a marketing term the company uses to promote its surveys on traditional retirement. That survey has been going for six years now, which certainly predates the publication of Farrell’s Unretirement Continue Reading…