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04-10-2016, 08:44 AM
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#51 | | MiX iT Up!
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Originally Posted by BlackV62K2  US based tech company with a branch up here. So yeah pretty the example u have tiger. | You don't need a cross border accountant.
what you need are the canadian equivalent of cost and proceeds and any withholding taxes you paid to IRS.
__________________
Sometimes we tend to be in despair when the person we love leaves us, but the truth is, it's not our loss, but theirs, for they left the only person who couldn't give up on them.
Make the effort and take the risk..
"Do what you feel in your heart to be right- for you'll be criticized anyway. You'll be damned if you do, and damned if you don't." - Eleanor Roosevelt | 
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04-15-2016, 12:54 AM
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#52 | | I contribute to threads in the offtopic forum
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So, my other employer just mailed me my T4. It totally crossed my mind that I had worked for them in the beginning of the year and I already filed my income tax.
Should I wait for my notice of assessment before doing anything?
Or file again using StudioTax with information on this T4 only?
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04-15-2016, 05:10 AM
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#53 | | I *heart* Revscene.net very Muchie
Join Date: Nov 2004 Location: vancouver
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worked on a movie and received a T4
the T4 only shows the amount i received as final payment....doesn't show the amounts taken off by the casting company or the amounts paid to the actors union. should both of those other amounts be tax deductible?
i have the payslips showing the deductions on each check so i technically could have proof to show how much was deducted from each.
this was a one time gig. also they never deducted any taxes so that's fun
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04-17-2016, 01:08 PM
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#54 | | RS Lurker, I don't post!
Join Date: Apr 2016
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Originally Posted by mr_chin So, my other employer just mailed me my T4. It totally crossed my mind that I had worked for them in the beginning of the year and I already filed my income tax.
Should I wait for my notice of assessment before doing anything?
Or file again using StudioTax with information on this T4 only? | You have two options:
1) Passive: The CRA will regularly confirm that all your slips are included in your tax return by matching SIN numbers. You can wait for CRA to reassess you and adjust your return accordingly. They may be a bit more lenient if this is the first time you missed a slip.
2) Proactive: You are unable to just file another return. You will have to file a T1 adjustment. Since you mentioned simple tax here is how you should go about it: https://simpletax.ca/blog/2013/how-t...our-tax-return
You will have to wait until you have been assessed before filing an adjustment. Quote:
Originally Posted by blkgsr worked on a movie and received a T4
the T4 only shows the amount i received as final payment....doesn't show the amounts taken off by the casting company or the amounts paid to the actors union. should both of those other amounts be tax deductible?
i have the payslips showing the deductions on each check so i technically could have proof to show how much was deducted from each.
this was a one time gig. also they never deducted any taxes so that's fun | Yes, the T4 should indicate gross amount paid and reduced by source deductions (CPP, EI, income tax withheld). You should confirm with the employer to ensure that the amounts are correct.
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04-18-2016, 05:18 PM
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#55 | | I *heart* Revscene.net very Muchie
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i contacted the agency i worked through and was basically told that's "normal for the industry" i've spoken to a couple friends (ones an actor so he's seen this before, and the other works in an accounting firm) both told me it's relatively normal and to use form 2125 and use the difference (what i actually got, compared to what the T4A states) as the duduction under "other"
doing my taxes now/tonight so i'll see what happens
just seems really weird
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04-19-2016, 09:24 PM
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#56 | | Where's my RS Christmas Lobster?!
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how long does it take to receive your refund? I filed a month ago.
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04-19-2016, 10:05 PM
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#57 | | I *Fwap* *Fwap* *Fwap* to RS
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^ i filed about 2 and a half weeks ago and received my refund 3-4 days ago .. t'was pretty quick
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01-12-2017, 11:54 AM
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#58 | | I contribute to threads in the offtopic forum
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Is food courier service considered self employed income? The job is contracted.
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01-12-2017, 12:03 PM
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#59 | | I don't like cheese but I love milk!
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Originally Posted by mr_chin Is food courier service considered self employed income? The job is contracted. | Do you get a T4 slip from you employer/customer?
If not, then that's a self employed income. (Assuming you are not operating as a business/corporation)
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02-22-2017, 11:17 PM
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#60 | | I contribute to threads in the offtopic forum
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Any tax experts know if deprecation of vehicle can be claimed? If so, how do I calculate it?
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02-23-2017, 07:09 AM
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#61 | | I *heart* Revscene.net very Muchie
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oh man don't we all wish that
What online service are you guys using this year? need to get my filed this weekend.
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02-23-2017, 12:09 PM
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#62 | | Rs has made me the woman i am today!
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I have a leased car that I use require to use for work. How do I claim my lease payments under my taxes? Unfamiliar with the whole process.
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02-23-2017, 12:12 PM
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#63 | | I contribute to threads in the offtopic forum
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Its that time of the year again when people say they wish they werent in the next tax "bracket" because they paid more in tax.  | |
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02-23-2017, 03:46 PM
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#64 | | Rs has made me the woman i am today!
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simpletax is a good online choice for basic returns. It's based on donation, so if you're an asshole, you can use it for free  | |
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02-23-2017, 04:37 PM
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#65 | | I contribute to threads in the offtopic forum
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Originally Posted by blkgsr oh man don't we all wish that
What online service are you guys using this year? need to get my filed this weekend. | I meant vehicle used for a business.
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02-23-2017, 05:00 PM
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#66 | | MiX iT Up!
Join Date: May 2006 Location: vancouver
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Originally Posted by mr_chin Any tax experts know if deprecation of vehicle can be claimed? If so, how do I calculate it? | yes it can.
it's 30% pro-rated based on km's used for business.
business km's - 2000
total km's - 10,000
2000/10000 x 30% x 50%(if first year) = yearly depreciation.
__________________
Sometimes we tend to be in despair when the person we love leaves us, but the truth is, it's not our loss, but theirs, for they left the only person who couldn't give up on them.
Make the effort and take the risk..
"Do what you feel in your heart to be right- for you'll be criticized anyway. You'll be damned if you do, and damned if you don't." - Eleanor Roosevelt | |
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02-23-2017, 07:00 PM
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#67 | | Rs has made me the man i am today!
Join Date: Nov 2008 Location: Vancouver
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Originally Posted by mr_chin Any tax experts know if deprecation of vehicle can be claimed? If so, how do I calculate it? | in addition to what tiger_handheld said, it's called Capital Cost Allowance if you want to look it up.
just make sure you have a log to distinguish KM between personal/business use
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02-25-2017, 02:38 PM
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#68 | | I contribute to threads in the offtopic forum
Join Date: Dec 2003 Location: Vancouver
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Originally Posted by bobbinka in addition to what tiger_handheld said, it's called Capital Cost Allowance if you want to look it up.
just make sure you have a log to distinguish KM between personal/business use | Like, hand-written log? That can easily be made up...
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02-25-2017, 05:54 PM
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#69 | | I have named my kids VIC and VLS
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Are there any discounts for home renovations anymore?
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Dank memes cant melt steel beams
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02-28-2017, 05:32 PM
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#70 | | I contribute to threads in the offtopic forum
Join Date: Dec 2003 Location: Vancouver
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Originally Posted by tiger_handheld yes it can.
it's 30% pro-rated based on km's used for business.
business km's - 2000
total km's - 10,000
2000/10000 x 30% x 50%(if first year) = yearly depreciation. | So on the T777 slip, my vehicle is classified as 10.1 since I leased it at 40k+ in 2011. Bought it out in 2015. I didn't start using it for work until mid 2016.
Date acquired would be the day I signed the final papers or the day I signed the lease papers?
What do I put in undepreciated capital cost at the beginning of the year? Which year? 2016?
Cost of acquisition during the year? Assuming again, 2016?
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02-28-2017, 05:53 PM
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#71 | | MiX iT Up!
Join Date: May 2006 Location: vancouver
Posts: 8,134
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Originally Posted by mr_chin So on the T777 slip, my vehicle is classified as 10.1 since I leased it at 40k+ in 2011. Bought it out in 2015. I didn't start using it for work until mid 2016.
Date acquired would be the day I signed the final papers or the day I signed the lease papers?
What do I put in undepreciated capital cost at the beginning of the year? Which year? 2016?
Cost of acquisition during the year? Assuming again, 2016? | Maybe you can PM fsy and see if his firm can do your tax return for you?
__________________
Sometimes we tend to be in despair when the person we love leaves us, but the truth is, it's not our loss, but theirs, for they left the only person who couldn't give up on them.
Make the effort and take the risk..
"Do what you feel in your heart to be right- for you'll be criticized anyway. You'll be damned if you do, and damned if you don't." - Eleanor Roosevelt | |
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02-28-2017, 05:56 PM
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#72 | | I *heart* Revscene.net very Muchie
Join Date: Nov 2004 Location: vancouver
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what do you guys think about RRSP contributions
currently looking to get back about $3K....i can drop another $2K into rrsp's and get another $700 or so back. this looks like a great "return" on my $2K but then again, I'm not a very active investor and some of you could make that with stocks no problem.
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03-07-2017, 05:57 PM
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#73 | | I Will not Admit my Addiction to RS
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My refund arrived today! This is the earliest I've ever received it.
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03-09-2017, 06:42 AM
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#74 | | MiX iT Up!
Join Date: May 2006 Location: vancouver
Posts: 8,134
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Originally Posted by blkgsr what do you guys think about RRSP contributions
currently looking to get back about $3K....i can drop another $2K into rrsp's and get another $700 or so back. this looks like a great "return" on my $2K but then again, I'm not a very active investor and some of you could make that with stocks no problem. | deadline is past - but one should never put rrsp in hopes to get a "return" on investment.
it's either to help you decrease your overall tax liabilty or you actually want to save for retirement.
__________________
Sometimes we tend to be in despair when the person we love leaves us, but the truth is, it's not our loss, but theirs, for they left the only person who couldn't give up on them.
Make the effort and take the risk..
"Do what you feel in your heart to be right- for you'll be criticized anyway. You'll be damned if you do, and damned if you don't." - Eleanor Roosevelt | |
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03-14-2017, 05:31 PM
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#75 | | HELP ME PLS!!!
Join Date: Sep 2001 Location: Vancouver
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So I sold a rental property last year and its time for taxes. I'm trying to figure out my initial cost of purchase. I have the #s for the purchase (lstatement of adjustment). I applied for the gst/hst rental property rebates at the time and I did get some of the tax I paid back eventually.
Do I include the rebated amount in the initial cost of this property purchase?
Thanks in advance
Last edited by W2K; 03-14-2017 at 05:37 PM.
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