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Income Taxes for Canadians
Posted: Thu Mar 04, 2004 3:54 pm
by Suzan
If any of you Canucks use the "Statement of Business Activities" form with your Income Tax return, what "Industry Code" do you use? The only code which seems applicable is 454390 "Sales - Direct Sales - Other Direct Sales".
Cheers,
Suzan
Posted: Thu Mar 04, 2004 7:31 pm
by Geri Comstock
Suzan - This is of no help to you, but it's somehow comforting to know the US isn't the only place that makes it kind of challenging to figure out what tax category we self-employed glassies belong in.
Hope someone has an answer for you.
Geri
new tax form
Posted: Thu Mar 04, 2004 8:10 pm
by Liam
Canada has a new short form for income tax this year
How much did you make this year?
Send it.
Re: new tax form
Posted: Thu Mar 04, 2004 8:57 pm
by Pam Hrycyk
Liam wrote:Canada has a new short form for income tax this year
How much did you make this year?
Send it.
Liam - That's not a new form, it's been in use for years!
Suzan - I've emailed you about this.
Posted: Thu Mar 04, 2004 9:06 pm
by Amy on Salt Spring
You should try having to do taxes for both the US AND Canada. We have big fun in April.
-A
Posted: Thu Mar 04, 2004 9:36 pm
by Suzan
440000 is for "Manufacturing - Other Merchandise". I thought this one might be applicable too. I've no idea how it affects taxes.
Re: the short form, if you're referring to the form for corporate filing, that, unfortunately, is not applicable to me as I'm the sole proprietor of my "manufacturing" glass plant. As far as I can tell, I need to fill out the T1 General (which is easy) plus the "Statement of Business Activities" which is 4 pages long. I'm sure if I just reread the Guide explanations 10 or 20 times I'll get it. How badly do I want to deduct my depreciables? Hmmm...
Cheers,
Suzan
Posted: Thu Mar 04, 2004 10:07 pm
by Carol
Suzan...why not just spend $100 and have an accountant do the tax forms? Think how much glass you could produce with the time you waste diddling around with forms and paperwork...
Also, check your email. I sent you another possible industry code number.
Carol
Posted: Thu Mar 04, 2004 10:49 pm
by Dani
Four pages.... $100???? Gads, I'm living in the wrong country. Got any room for foreigners up there in Canada? Jeez.
Posted: Fri Mar 05, 2004 11:09 am
by KatyPattison
I'm checking with my CA husband and will let you know what he says, if he responds, it is tax season you know!
Katy
Posted: Fri Mar 05, 2004 11:17 am
by KatyPattison
Wow, record time for him to answer and email and his response to
454390 "Sales - Direct Sales - Other Direct Sales".
was
"sounds good to me"
Very decisive!
Katy
Posted: Fri Mar 05, 2004 1:26 pm
by Dani
Katy Pattison wrote:I'm checking with my CA husband and will let you know what he says, if he responds, it is tax season you know!
Katy
Do you have other husbands in other states? What a great arrangement!
Posted: Fri Mar 05, 2004 2:07 pm
by KatyPattison
Sorry, only one in Canada, non in the States!