Accounting and Taxes Thread

[Locke]

Originally Posted by Jason14h

The good news is it only cost $20 million to make !

I was half-tempted to just mess with it. I was doing a return this morning for a client that has a rental property in Scotland...come on off-brand Clippy...teach me how to do this!

I mean...I already know how to do it, I've done it many times but I'd be interested to see what kind of advice this stupid chatbot would give me.

If I had to hazard a guess I'd wager their advice would be 100% Bull####.

[Mightyfire89]

I drive a handivan for a charitable organization and get paid monthly by cheque. The person who runs the org says they don’t provide any info to the government nor do they provide a T4. My question is: Do I need to include these earnings on my tax return? When I plug it into tax software as an independent contractor, I’m taxed at nearly 25%, which seems steep.
Any help?

[DoubleF]

Originally Posted by Mightyfire89

I drive a handivan for a charitable organization and get paid monthly by cheque. The person who runs the org says they don’t provide any info to the government. My question is: Do I need to include these earnings on my tax return? When I plug it into tax software as an independent contractor, I’m taxed at nearly 25%, which seems steep.
Any help?

Ignoring the employee vs contractor stuff, you'd input it in the return either way. The only question is where (ie: T slip vs other income vs T2125 self employment etc.).

Taxed at around 25% sounds about right. Lowest tax brackets are 14.5% Federal and 8% Provincial for Alberta.

[Locke]

And...depending on other factors within your Return you could be paying CPP, if its as a Sole-Proprietor then twice, which bumps up the owing amount.

[kipperiggy]

Originally Posted by Qwerty

I have a wife/daughter that are celiac, I was looking to claim the incremental difference in the cost of regular vs gluten free. We tracked it throughout the year, it is under the threshold for medical expenses so it seems I am not getting any credit for it. Is there a special line to put this to? 33099 won't give me any actual refund. Google tells me that unless its over the lessor of 3% of net income or $2834 I am SOL.

I feel I wasted a lot of time highlighting receipts and tracking every purpose for no reason!

Just wanted to make sure there isn't a special spot to put this or something....

I am also celiac. Celiac Canada is advocating for a flat tax credit. Sign the petition! https://www.celiac.ca/tax-fairness-and-affordability/

[Shazam]

Where the hell is my lactose-free tax credit then.

[DoubleF]

Originally Posted by Qwerty

Why did I think the CRA wouldn't be complete morons with this policy..... I was already comparing prices vs no frills so not sure I can get much cheaper. I also love how it says to only include the portion that the gluten free people ate. This could be the dumbest policy ever. The amount of work on both ends (I assume they will audit this when you get just above the threshold) is such a waste of time/money.

Our tax dollars hard at work as always.

Yeah I've seen the tracking. It's dumb. Basically small business bookkeeping.

Has anyone ever tried resources like the glutax app? Supposed to auto calculate differences after scanning grocery receipts. I wonder if there's others out there.

[fotze2]

Originally Posted by Shazam

Where the hell is my lactose-free tax credit then.

Is there a garlic avoidance credit. I basically cannot eat out anywhere. Vile stuff. It rucking grows arms just sitting in your 'fridge. And we eat that creature. Who decided we need to eat that?

[Slava]

Honestly, the proliferation of these kinds of credits or deductions is why the tax system is so complicated and ridiculous. And, no offence to anyone, but why are we giving credits to people for this kind of thing?

[Fuzz]

Originally Posted by Slava

Honestly, the proliferation of these kinds of credits or deductions is why the tax system is so complicated and ridiculous. And, no offence to anyone, but why are we giving credits to people for this kind of thing?

Have you ever gone shopping for gluten free food? Most stuff is double the price. It rarely goes on sale. Because it's a medical necessity, you don't have a choice. We provide tax breaks for mobility aids and other medically necessary equipment. And the tax credit is still a pathetic token level refund, not making up the difference in cost we have to pay. No one is cashing in here.


It's always easy for the people who don't have to live with this stuff to look down and say "why should we do anything for you?" Because it's about trying to maintain some semblance of humanity in this ####ty ass society where everyone only cares about themselves. The real question is "why do we make it so ####ing difficult?" Is it a fear someone will abuse the credit?

[fotze2]

Originally Posted by Fuzz

Have you ever gone shopping for gluten free food? Most stuff is double the price. It rarely goes on sale. Because it's a medical necessity, you don't have a choice. We provide tax breaks for mobility aids and other medically necessary equipment. And the tax credit is still a pathetic token level refund, not making up the difference in cost we have to pay. No one is cashing in here.


It's always easy for the people who don't have to live with this stuff to look down and say "why should we do anything for you?" Because it's about trying to maintain some semblance of humanity in this ####ty ass society where everyone only cares about themselves. The real question is "why do we make it so ####ing difficult?" Is it a fear someone will abuse the credit?

Why not just deal with more poos, liquidy and blasty?

[GGG]

Originally Posted by Slava

Honestly, the proliferation of these kinds of credits or deductions is why the tax system is so complicated and ridiculous. And, no offence to anyone, but why are we giving credits to people for this kind of thing?

Because you get to deduct medical expenses caused by diseases you have.

Do you object for tax credits to modify your van into an accessible one?

[Fuzz]

Originally Posted by fotze2

Why not just deal with more poos, liquidy and blasty?

I'd be happy to pop by Slava's office and give him an in person demonstration of involuntary dual orifice evacuation, should he need more convincing.

[fotze2]

Originally Posted by Fuzz

I'd be happy to pop by Slava's office and give him an in person demonstration of involuntary dual orifice evacuation, should he need more convincing.

Pics or it didn't happen.

[Fuzz]

Originally Posted by fotze2

Pics or it didn't happen.

I'll setup a split screen video feed, one on the action, the other on Slava's reactions.

[Slava]

I mean you could use a toilet like a normal human?

[fotze2]

Originally Posted by Fuzz

I'll setup a split screen video feed, one on the action, the other on Slava's reactions.

I just refuse to allow gluten to rule me. You should just man up. I will rucking eat you gluten, you little monster and turn you into liquid poo.

I am good with spaghetti and meat sauce though.

[RandyHolt]

I mean Slava's not wrong though. It's a stupid tax credit that creates a significant amount of work for both the individual and CRA. These types of tax credits, like child fitness credit years ago, are good in idea and terrible in execution.

Just create a second lower sort of disability credit with a flat amount and include celiac as qualifying for that. Once approved there's no real work for either the individual or CRA.

[fotze2]

Originally Posted by RandyHolt

I mean Slava's not wrong though. It's a stupid tax credit that creates a significant amount of work for both the individual and CRA. These types of tax credits, like child fitness credit years ago, are good in idea and terrible in execution.

Just create a second lower sort of disability credit with a flat amount and include celiac as qualifying for that. Once approved there's no real work for either the individual or CRA.

Keeping receipts and all that for maybe $5 back extra. It's just not worth it. Locke can thank me for that.

These ads can eat my arse.

[DJones]

It's not worth it to track Gluten expenses. Just write down a reasonable number and be done with it. Either that or track for a month and extrapolate. If your number is within their zone of acceptability they will never ask a question. It's not worth putting in even a small amount of work.

Anyone eating gluten free gives up on the gluten free substitutes pretty quickly anyway. Just change the diet, don't eat knock off cardboard.