Jonah Ravel
Director of Cross Border Financial Planning
Canada & U.S. Health Care Advisor
B.A., CFP®(Canada), CFP® (US), F. Pl.
Email: jravel@mcacrossborder.com
Telephone: 514-940-8068
Jonah Ravel
Director of Cross Border Financial Planning
B.A., CFP®(Canada), CFP® (US), F. Pl.
Email: jravel@mcacrossborder.com
Telephone: 514-940-8068
Jonah is a Director of Cross Border Financial Planning at MCA Cross Border Advisors Inc.
Jonah Ravel is a Director of Cross Border Financial Planning at MCA Cross Border Advisors Inc. who holds the CERTIFIED FINANCIAL PLANNER® designation in both Canada and the U.S. as well as the Quebec Financial Planner (F. Pl.) designation.
Jonah is a seasoned financial professional with over 20 years of experience in the financial services industry. Before joining the team at MCA Cross Border Advisors Inc., Jonah worked in a variety of retail roles at some of Canada’s major banks where he developed advanced skills in the delivery of attentive and exceptional client service.
Accustomed to researching complex cross-border issues, Jonah excels at analyzing each client’s unique set of facts and providing tailored advice to help them optimize their cross-border lifestyle. As a writer of comprehensive cross-border financial plans, Jonah helps clients gain clarity on their complete cross-border picture by advising them on Canada/U.S. tax planning, retirement planning, estate planning, health coverage & insurance planning, and investment planning.
Education
- Bachelor of Arts (B.A.) with Great Distinction, McGill University, 2004
Awards & Recognition
- Ranked among the top 5% on the IQPF Financial Planning certification final exam
Certifications & Memberships
- Certified Financial Planner® (Canada)
- Certified Financial Planner ™ (US)
- Financial Planner (F. Pl.), Member of the Chambre de la sécurité financière
Recent Articles, Media Interviews & blogs by Jonah
Health Savings Accounts: A Powerful U.S. Tax Savings Opportunity
Canadians moving to the U.S. often ask about tax saving opportunities which await them as future U.S. residents. One such opportunity available to U.S. residents that we love explaining due to the powerful tax benefits it provides is the Health Savings Account or “HSA.” This should not be confused with the Canadian Health Spending Account which typically refers to a cafeteria health spending plan offered by Canadian group plans. The U.S. HSA is an individual savings vehicle that offers triple tax savings to eligible accountholders as I explain below.
HSAs can be opened at a variety of U.S. banks and other financial institutions. Being allowed to contribute to one requires being: 1) a U.S. resident; and 2) enrolled in an accompanying High Deductible Health Plan (HDHP).
Mortgage Interest Deduction in Canada and the U.S.
With skyrocketing mortgage interest rates upon us, now may be an opportune time for a refresher on the cross-border differences in mortgage interest tax deductibility in Canada and the U.S.
Canadian Rules
There’s a reason why Canadians are famously averse to mortgage debt and generally prefer to pay down their mortgages as quickly as possible: mortgage interest on a personal use property unfortunately isn’t tax-deductible in Canada. That means that, by and large, Canadians are stuck making their mortgage payments with after-tax dollars.
If a property is generating rental, business, or professional income however, that’s a different story – mortgage interest on a property that is used for these purposes is tax-deductible as an operating expense against the gross income generated.
Obamacare Subsidies Expanded for Canadians Moving to the US
Canadians moving to the U.S. who don’t have access to an employer-provided group healthcare plan or who aren’t immediately eligible for U.S. Medicare typically purchase individual private U.S. healthcare plans via the federally regulated health insurance marketplace under the Affordable Care Act (“ACA”), often referred to as Obamacare.
Middle-income Canadians moving to the U.S. who will be enrolling or who are already enrolled in these ACA plans can rejoice thanks to President Biden’s recently passed Inflation Reduction Act (IRA) of 2022. The IRA, which was signed into law on August 16, 2022, expands the generous upfront subsidies that are available to those who enroll in ACA plans.
CROSS BORDER PROFESSIONALS
Casper Wong
Senior Cross Border Tax Associate
Nakeita McKnight-Monrose
Client Services & Administration Specialist
Raeline Moreau
Client Services & Operations Coodinator
