tag:blogger.com,1999:blog-4402283548766807872.post63335958498424721..comments2024-03-20T02:26:06.500-04:00Comments on The Blunt Bean Counter: Income Tax Preparation TipsThe Blunt Bean Counterhttp://www.blogger.com/profile/11358868550072516313noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-4402283548766807872.post-54186306292392320262015-01-12T19:25:10.854-05:002015-01-12T19:25:10.854-05:00It depends, see this link for more info http://tur...It depends, see this link for more info http://turbotax.intuit.ca/tax-resources/tax-compliance/how-are-taxes-assessed-for-us-citizens-working-in-canada.jspThe Blunt Bean Counterhttps://www.blogger.com/profile/11358868550072516313noreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-75047337890698268302015-01-12T17:22:00.826-05:002015-01-12T17:22:00.826-05:00What type of tax return does a US Citizen have to ...What type of tax return does a <a href="http:/klknightcpa.com" rel="nofollow">US Citizen</a> have to file if he was employed in Canada during 2014?Anonymoushttps://www.blogger.com/profile/07374117717518674368noreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-16180958040019526202014-03-16T17:12:04.759-04:002014-03-16T17:12:04.759-04:00Hi Steve:
Not a simple question. You may have to ...Hi Steve:<br /><br />Not a simple question. You may have to allocate part of the small business deduction on the s(7) to the other partners and the nature of the income may or may not be active depending upon the partnerships activities. Speak to your accountant or if you dont have one, you should get one when you have something like partnership income even if they only prepare your tax return.The Blunt Bean Counterhttps://www.blogger.com/profile/11358868550072516313noreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-53670485984473971042014-03-16T16:31:11.823-04:002014-03-16T16:31:11.823-04:00Hi Mark,
I can't find this anywhere online....Hi Mark, <br /><br />I can't find this anywhere online. If a corporation is a member of a partnership, how does one use the T5013 information as part of the T2. Both the corporation and the partnership have the same fiscal year. I believe the income from the partnership should be considered as active. Does one simply enter the income as regular income when preparing the T2?<br /><br />Thanks!Stevenoreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-1930600523795814282014-03-14T19:13:24.783-04:002014-03-14T19:13:24.783-04:00Thanks Mark. I was searching and searching as well...Thanks Mark. I was searching and searching as well. But I have a feeling they are part of university fees caught under tuition fees. But I will check.<br />Thanks for the help. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-16081034634215848242014-03-14T17:22:12.889-04:002014-03-14T17:22:12.889-04:00Hi Anon:
Interesting question. These fees as you ...Hi Anon:<br /><br />Interesting question. These fees as you note would in the "outside world" be deductible, however, I have never seen a receipt issued to a student by either the University or the University's Plan Insurer, which makes we wonder if they are somehow not eligible because they are part of University fees or caught by some regulation. So I am not sure and could not find the answer when I looked quickly, sorry about that, you may need to ask the University if they know the answer The Blunt Bean Counterhttps://www.blogger.com/profile/11358868550072516313noreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-88041113091901087842014-03-14T16:22:21.226-04:002014-03-14T16:22:21.226-04:00Hi Mark:
Here's a tax question:
For medical ...Hi Mark:<br /><br />Here's a tax question:<br /><br />For medical expense purposes, can a graduate student claim the dental and/or health care plans the university charges the student?<br /><br />I believe this qualifies as a medical expense as it falls under premiums paid for private health care plans but wishing to clarify.<br /><br />Thanks a lot.<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-83759950336143794142014-03-10T13:17:49.764-04:002014-03-10T13:17:49.764-04:00Hey Anon
I am with you. Plus, people miss reporti...Hey Anon<br /><br />I am with you. Plus, people miss reporting a small $3 slip and then get hammered with a matching penalty when they miss another larger slip in the 3 following years, whereas, if they missed them in reverse order, the penalty would be miniscule.<br />The Blunt Bean Counterhttps://www.blogger.com/profile/11358868550072516313noreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-67166978038136128112014-03-10T13:15:27.544-04:002014-03-10T13:15:27.544-04:00Thx Michael,
Unfortunately, there are regulation...Thx Michael, <br /><br />Unfortunately, there are regulations regarding referrals for accountants and many accountants are not that keen to take on more personal tax clients, because of the condensed tax season.The Blunt Bean Counterhttps://www.blogger.com/profile/11358868550072516313noreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-36778797851408534522014-03-10T13:12:26.033-04:002014-03-10T13:12:26.033-04:00Hello Mark,
My biggest pet peeve is with the T5 a...Hello Mark,<br /><br />My biggest pet peeve is with the T5 and interest income and the $50 threshold. <br /><br />I can see where it can be a problem for those with 20 accounts and each one earning less than the 50, it adds up, but that takes determination by some people to do that.<br /><br />What's your take on this debacle?<br /><br />My opinion, bring back some limit on interest exemption.<br /><br />Happy tax season.<br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-44744381124578077402014-03-10T10:30:17.061-04:002014-03-10T10:30:17.061-04:00Just thinking out loud here, but have you consider...Just thinking out loud here, but have you considered the possibility of seeking out tax-preparers you like and sending inquiries to them? Could be an additional source of revenue for you as a match-making service.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.com