Income Taxes for Canadians - WarmGlass.com

Income Taxes for Canadians

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Suzan
Posts: 75
Joined: Mon Mar 17, 2003 12:22 pm
Location: Ottawa, Ontario Canada
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Income Taxes for Canadians

Postby Suzan » Thu Mar 04, 2004 3:54 pm

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

Geri Comstock
Posts: 340
Joined: Mon Mar 10, 2003 4:16 pm
Location: Northern CA
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Postby Geri Comstock » Thu Mar 04, 2004 7:31 pm

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

Liam
Posts: 90
Joined: Sun Mar 09, 2003 10:25 pm
Location: Houston, TX

new tax form

Postby Liam » Thu Mar 04, 2004 8:10 pm

Canada has a new short form for income tax this year


How much did you make this year?

Send it.
W.W.S.D.
(what would spab do)

Pam Hrycyk
Posts: 36
Joined: Mon Mar 10, 2003 9:17 pm
Location: Toronto, Ontario Canada

Re: new tax form

Postby Pam Hrycyk » Thu Mar 04, 2004 8:57 pm

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.

Amy on Salt Spring
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Location: British Columbia, Canada
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Postby Amy on Salt Spring » Thu Mar 04, 2004 9:06 pm

You should try having to do taxes for both the US AND Canada. We have big fun in April. \:D/
-A

Suzan
Posts: 75
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Location: Ottawa, Ontario Canada
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Postby Suzan » Thu Mar 04, 2004 9:36 pm

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

Carol
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Joined: Sun Mar 09, 2003 5:48 pm
Location: Thetis Island, BC, Canada
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Postby Carol » Thu Mar 04, 2004 10:07 pm

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

Dani
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Postby Dani » Thu Mar 04, 2004 10:49 pm

Four pages.... $100???? Gads, I'm living in the wrong country. Got any room for foreigners up there in Canada? Jeez.

KatyPattison
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Postby KatyPattison » Fri Mar 05, 2004 11:09 am

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

KatyPattison
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Postby KatyPattison » Fri Mar 05, 2004 11:17 am

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

Dani
Posts: 493
Joined: Mon Mar 10, 2003 3:17 pm
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Postby Dani » Fri Mar 05, 2004 1:26 pm

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! :wink:

KatyPattison
Posts: 21
Joined: Sun Mar 09, 2003 4:51 pm
Location: Canada
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Postby KatyPattison » Fri Mar 05, 2004 2:07 pm

Sorry, only one in Canada, non in the States!


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