Bagaimana Cara Kerja Pajak Berinvestasi (Bagian 1 8211 Keuntungan Modal) oleh FT pada 22 Januari 2013 Dengan musim pajak tepat di tikungan, saya rasa ini adalah saat yang tepat untuk memulai posting beberapa artikel terkait pajak. Apakah Anda penasaran dengan bagaimana investasi pajak dihitung Secara khusus, pajak capital gain Jika demikian, Anda telah datang ke blog yang benar, saya sama sekali bukan ahli pajak tapi saya memiliki cukup pengetahuan untuk memberikan panduan umum mengenai bagaimana Anda dapat mengetahui investasi Anda sendiri. perpajakan. Perhatikan bahwa panduan pajak yang dijelaskan dalam posting ini hanya untuk Kanada. Selain itu, Anda harus berkonsultasi dengan profesional pajak sebelum menerapkan apapun yang Anda baca di blog dan web saya secara umum. ) Mari kita mulai dengan RRSP8217s. Seperti yang mungkin Anda ketahui, kontribusi RRSP dan pertumbuhan investasi hanya dikenakan pajak pada saat penarikan. Pada saat itu, penarikan dikenai pajak sebagai penghasilan dengan tarif pajak marjinal Anda saat itu. Itulah strategi di balik RRSP8217: berkontribusi, biarkan tumbuh bebas pajak, dan mundur saat Anda berada dalam kelompok kurung pajak yang lebih rendah (mudah-mudahan). Sekarang ke akun Non-terdaftar. Ada 3 jenis pajak yang perlu Anda pertimbangkan. Pajak Keuntungan Modal (CG) Bila Anda memperoleh keuntungan dari menjual saham di akun yang tidak terdaftar, Anda akan dikenai pajak capital gain (CG). Apa capital gain Capital gain adalah selisih antara harga jual dan harga beli saham dikurangi komisi. Misalnya, jika Anda menjual saham seharga 1000 (inc selling fee) dan membayar 800 (inc buying fee), Anda akan memperoleh capital gain sebesar 200. Pajak keuntungan modal dikenakan tingkat inklusi 50%. Ini berarti 50 keuntungan Anda akan dimasukkan sebagai pendapatan. Jadi, di contoh di atas, 100 akan ditambahkan ke pendapatan Anda dan dikenai pajak pada tingkat marjinal Anda. Atau cara lain untuk melihatnya adalah bahwa setiap keuntungan dari penjualan saham di rekening non-reg dikenai pajak pada tingkat marginal Anda. Tingkat inklusi 50 adalah alasan mengapa sebagian besar guru keuangan menyarankan agar Anda menyimpan investasi untuk keperluan pertambahan modal di luar RRSP Anda. Jika Anda tetap melakukan kenaikan modal di dalam RRSP, Anda akan dikenakan pajak pada 100 keuntungan karena semua pendapatan yang ditarik dari RRSP dikenakan pajak pada tingkat marjinal Anda. Keuntungan lain untuk menjaga agar modal Anda tetap menghargai saham di luar RRSP adalah karena Anda dapat mengklaim kerugian Anda terhadap keuntungan Anda untuk mengurangi hutang pajak Anda. Sedangkan dalam RRSP, kerugian tidak dapat diklaim. Sebagai contoh, jika pada tahun 2006 Anda menjual saham untuk keuntungan portofolio 4000 non-reg dan 1000 kerugian, total keuntungan Anda sekarang 3000. Untuk mengetahui hutang pajak Anda, itu adalah: 3000 x 0.50 1500. 1500 ini akan ditambahkan Untuk penghasilan kena pajak Anda untuk tahun itu dan dikenai pajak pada tingkat marjinal Anda. Inilah sebabnya mengapa Anda membaca beberapa strategi pajak untuk menjual saham Anda yang hilang pada akhir tahun. Jumlah yang kalah akan dikurangkan dari jumlah total kemenangan Anda dan mengurangi keseluruhan pajak Anda. Bagaimana jika Anda memiliki pecundang untuk tahun ini, tapi Anda yakin itu adalah pemenang jangka panjang yang mungkin Anda pikirkan untuk menjualnya sebelum akhir tahun dan membelinya lagi. Tidak begitu cepat, Anda harus memastikan Anda tidak melanggar peraturan kehilangan dangkal. Apa aturan kerugian dangkal Menurut: cabusinessadvisorTaxTaxTrapsSuperFL. htm Aturan ini berlaku bila orang atau orang yang berafiliasi memperoleh atau memiliki hak untuk memperoleh properti yang sama atau identik dalam 30 hari setelah disposisi atau 30 hari sebelum disposisi properti yang dimaksud . Sifat itu bisa saja dibuat untuk siapa saja. Dalam kasus ini, kerugian atas disposisi ditolak dan jumlah kerugian tersebut ditambahkan ke biaya properti pengganti. Dalam istilah awam, itu berarti bahwa jika Anda menjual saham dengan kerugian, Anda tidak dapat membeli kembali saham itu kembali dalam waktu 30 hari dan mengklaim kerugiannya terhadap keuntungan Anda. Namun, jika Anda membeli kembali saham yang sama kembali dalam waktu 30 hari dan Anda akan mendapatkan keuntungan darinya di masa depan, Anda dapat mengurangi kerugian awal terhadap keuntungan Anda dari saham itu. Beli 10 saham ABC dengan total biaya 1000 Jual 10 saham ABC untuk: 800 Rugi: 200 Pembelian kembali 10 saham ABC dalam 30 hari untuk: 850 Jual 10 saham ABC di masa depan untuk 1200: Laba: 1200-850- 200 (kerugian awal ) 150 Jumlah Kena Pajak: 75 (150 50) Sebagai catatan, Anda harus mempertimbangkan peraturan kerugian superfisial jika Anda mencoba Manuver Smith (SM). SM menyarankan untuk menjual saham non-reg Anda untuk membayar rumah Anda, kemudian MELUNCURKAN sahamnya. Jika Anda menjual saham dengan kerugian. Anda harus menunggu 30 hari sebelum membeli kembali. Jika tidak, kerugian akan diabaikan. Singkatnya: Keuntungan modal dikenai pajak sebesar 50 tingkat marjinal Anda (efisien). Jaga agar modal Anda menghargai dana di luar RRSP Anda. Jika Anda sering bertransaksi, menjual pecundang Anda di penghujung tahun ini untuk mengurangi keuntungan Anda sepanjang tahun. Perhatikan aturan kerugian dangkal. Pajak bisa jadi membosankan tapi merupakan komponen penting dalam perencanaan keuangan. Pada artikel berikutnya (Bagian 2). Kita akan membahas 2 jenis pajak investasi, pajak dividen dan bunga lainnya. Jika Anda memiliki sesuatu untuk ditambahkan ke artikel ini, silahkan posting di komentar. Jika Anda ingin membaca lebih banyak artikel seperti ini, Anda dapat mendaftar ke layanan newsletter gratis saya di bawah ini (kami tidak akan mengirim spam kepada Anda). Related Posts: Michael, Anda harus berkonsultasi dengan seorang akuntan tentang tahun-tahun sebelumnya. Saya telah membangun bisnis (Canadian Corp) dan ingin menjual. Saya akan memiliki keuntungan modal yang besar meski saya menjual saham dan bukan aset. Bisnis Arus Kas sangat bagus, sangat cocok untuk perusahaan lain untuk amalgomate. Masih Modal TAx akan sangat besar. Saya punya 2 anak dan istri. Saya memikirkan pemberian hadiah kepada anak-anak. Apon kematian saya istri saya yang lebih muda akan mendapatkan aset saya berguling bebas pajak yang saya kira. Saya juga memiliki perusahaan kecil lain (Perusahaan Kanada) juga, dan ingin membeli atau berinvestasi untuk menahan Pajak Modal. Saya telah bekerja pantat saya selama 38 tahun dan sekarang benci untuk membayar begitu banyak setelah masa hidup pajak besar setiap tahun. (Dan pajak perusahaan juga setiap tahun) Ada komentar Paul, saya tidak tahu berapa umur komentar ini atau apakah ini Masih akan relevan, tapi ada beberapa hal. Pertama, Anda dapat dengan mudah memenuhi syarat untuk memperoleh Keuntungan Modal Seumur Hidup yang 824.176 pada tahun 2016. Berarti Anda akan menghindari membayar pajak atas semua keuntungan itu saat Anda menjual. Namun, di sinilah Anda perlu memastikan bahwa Anda mendiskusikannya dengan akuntan yang berkualifikasi karena bisnis Anda harus sesuai dengan kriteria spesifik untuk memenuhi syarat. Sehubungan dengan anak laki-laki Anda, Anda mungkin ingin mendiskusikan melakukan pembekuan perkebunan. Saya bukan ahli dalam menyusun rencana suksesi dengan cara apa pun, tapi Anda pasti perlu duduk dengan beberapa profesional berkualitas untuk mendiskusikan pilihan Anda. I8217m hampir positif Anda akan mendapatkan LCGD 800K sekalipun. Ken Thomas 7 Desember 2007, 12:50 am Hi FT, Saya adalah warga negara Amerika dan telah berinvestasi di pasar real estat Kanada. Saya menjual 8220assignment8221 saya di kondominium yang saat ini sedang dibangun. Sebagai orang asing, bagaimana saya bisa menjadi pajak Sama seperti warga Kanada saya sangat menghargai inpu Anda, Ken Thomas Palm Springs, California Amerika Serikat Jared 27 Januari 2008, 8:16 pm Apakah ada yang tahu bagaimana menjual opsi panggilan tertutup dikenai pajak? Hanya dianggap capital gain, atau bisakah Anda menggunakan nilainya untuk menurunkan biaya dasar yang disesuaikan dari saham yang Anda miliki dan membayar pajak saat Anda menjual saham aktual Dom 27 Januari 2008, 11:10 pm Pertanyaan besar, Jared. Saya juga bertanya-tanya tentang pertanyaan ini, dan saya ingin tahu apakah menggunakan seruan tertutup akan meniadakan manfaat pajak dari strategi Manleouvre8221 8220Smith (yaitu jika saya meminjam uang untuk berinvestasi dalam saham DAN menulis panggilan tertutup pada mereka, apakah minat hutang saya masih Pajak dikurangkan) chris 28 Januari 2008, 13:53 Istri saya dan saya sedang dalam proses pembelian properti di Panama. Kami berencana untuk tinggal di Kanada selama 6 MTHS dan di sana selama 6 MTHS. Bagaimana akan keuntungan modal bekerja jika kami menjual Properti itu atau membeli yang lain sebagai investasi dan menjualnya. Haruskah kita mendaftarkannya atas nama kita atau membentuk perusahaan untuk pembelian ini. Orang yang Berharap seseorang dapat membantu saya? Fris fredes February 26, 2008, 1:01 pm Pada tahun 2007 saya menjual 8220ABC8221 saham 3 kali. Saya telah membeli saham ini selama 6 atau 7 tahun. Bagaimana seseorang tahu keuntungan (keuntungan) apa yang dibuat. Mengatakan bahwa ini adalah perbedaan antara apa yang Anda bayar untuk itu dan apa yang Anda jual untuknya adalah AN OVERSIMPLIFICATION. Saya tidak bisa menjadi satu-satunya investor yang memiliki masalah ini. Terima kasih, F Fownes Fred, Anda harus kembali ke catatan Anda dan menghitung total Biaya Set Adjusted Cost Base (ACB) untuk persediaan. Dari sana, Anda bisa menentukan keuntungan dari harga jual Anda. Tomw 7 Maret 2008, 17:47 Anda dapat melakukan pelacakan keuntungan modal di pelacak saham atau pelacak perangkat lunak capital gain di komputer Anda. 8220Stox8221 di Mac OS X adalah pilihan terbaik, ada banyak aplikasi perangkat lunak unggulan lainnya untuk Windows PC8217 yang melacak saham (cukup masuk dalam setiap transaksi) dan Anda akan mendapatkan total keuntungan dan kerugian modal Anda. Saya yakin orang-orang PC di sini dapat menyebutkan produk unggulan mereka untuk mendapatkan persediaan saham. (Anda tetap harus memasukkan secara manual setiap transaksi jual dan beli) Jason Mathew 25 Maret 2008, 4:48 am Hai. Ini adalah posting yang sangat bagus dan informatif tentang pajak di kanada, saya menyukainya, tapi bisakah Anda memberikan informasi tentang pajak di Inggris. Akan sangat membantu. Terima kasih Jason Nathan 26 Maret 2008, 15:08 Saya mempertimbangkan untuk membeli properti di AS, karena harganya cukup menarik, dan bertanya-tanya apakah ada orang yang mengenal pajak yang terkait dengan orang-orang Kanada yang membeli properti di AS. Jika saya memutuskan untuk membeli properti sekarang dan menjual saat properti tersebut diapresiasi lagi, bagaimana dan di mana saya harus membayar pajak capital gain? Akankah lebih bermanfaat untuk membayar di AS atau di Kanada Saya mendengar bahwa Anda hanya membayar pajak dalam satu Negara as per NAFTA8230 XGW 2 April 2008, 10:24 pm Bagaimana menghitung capital gainloss jika saya menjual sebagian saham Katakanlah, membeli 10 saham ABC dengan total biaya 1000 dan menjual 5 saham ABC untuk 600, capital gain Akan 100 saya akan menghargai balasan Anda XGW, itu tergantung pada dasar biaya yang disesuaikan pada stok. Dalam kasus Anda, 10 saham Anda memiliki basis biaya masing-masing 100. Karena Anda menjual 5 dari saham tersebut dengan harga dasar 500, keuntungan modal Anda akan mencapai 100 seperti yang Anda tunjukkan. Saya punya artikel tentang ACB segera hadir. Ann 4 April 2008, 1:05 pm Jika saya membeli 1000 saham dan pada akhir tahun nilainya mencapai 1200 tetapi saya tidak mencairkannya, saya menyimpannya. Apakah saya harus mengklaim 200 pajak saya sebagai pendapatan untuk tahun itu dan membayar pajak untuk pajak itu. Atau apakah saya hanya melaporkannya pada pajak saya saat saya benar-benar menjual saham di jalan dan masih menghasilkan keuntungan Ann, Anda hanya melaporkan keuntungan modal saat Anda menjual. Fajar 7 April 2008, 10:57 pm I8217 telah berinvestasi sejak Juli 8211 lalu, saya mendapat keuntungan dan kerugian modal di akun yang tidak terdaftar pada tahun 2007. Saya memiliki sekitar 30 perdagangan. Saya menganggur selama 5 tahun terakhir, jadi nol penghasilan untuk tahun 2007. Saya memiliki beberapa pertanyaan, berharap seseorang dapat membantu saya dalam hal ini 8211 semuanya sangat membingungkan bagi saya: 1) Dapatkah saya mengklaim biaya perdagangan saya untuk membeli dan menjual barang-barang itu? Saham untuk tahun 2007. 2) Saya kehilangan uang untuk mengubah Cdn menjadi AS untuk membeli saham dan juga mengubahnya kembali ke Cdn 8211, dapatkah saya mengklaim kerugian ini 3) Di mana pada formulir pajak 2007, saya menempatkan modal saya untuk mendapatkan penghasilan tidak bekerja Apa yang dimaksud dengan garis 4 ) Di mana saya bisa mengetahui daftar pajak saya untuk mendapatkan keuntungan dari situs web apa pun 5) Berapa jumlah yang saya masukkan sebagai capital gain pada Formulir Pajak 8211 apakah jumlah itu sebelum kerugian dan biaya atau setelah untuk Misalnya katakanlah bahwa capital gain saya adalah 20.000 dan kerugian saya adalah 8.000 12.000 biaya perdagangan saya, katakanlah 1.000 kerugian konversi mata uang saya 1.000 Apakah akan 12.000 8211 2.000 10.000 x 50.000 saya akan menggunakan formulir perpajakan sebagai capital gain 6) Apakah pasangan saya memberikan keuntungan modal saya pada Kembalinya sebagai penghasilan saya meskipun saya tidak bekerja, saya akan nyata Saya menghargai bantuan Anda dalam hal ini 8211 Saya tidak memiliki seorang akuntan dan akhir bulan April mendekati dengan cepat. Terima kasih sebelumnya. Fajar, pertanyaan Anda akan meminta seseorang yang memenuhi syarat untuk menjawabnya. Cara cepat yang kotor untuk mendapatkan jawaban adalah dengan mengisi informasi pajak Anda melalui program online dan mereka akan memberi tahu Anda informasi apa yang harus dimasukkan ke mana. Baik ufile dan quick tax sangat populer. Namun, saya bisa memberi beberapa petunjuk (perhatikan bahwa i8217m bukan pro pajak). Biaya perdagangan bisa diklaim. Kerugian forex bisa diklaim. Untuk menemukan braket pajak Anda, Anda menambahkan modal Anda dan kalikan dengan 50. Angka itu akan ditambahkan ke pendapatan Anda untuk tahun itu. Berkaitan dengan 8220who8221 mengklaim keuntungannya, itu harus konsisten dengan tahun-tahun sebelumnya. Pikiran lain adalah bahwa jika Anda menganggur, uang itu perlu datang dari tahun 822 di tempat yang bagus. Saya akan berpikir bahwa suami Anda perlu mengklaim keuntungannya jika dia yang mendanai akun investasi. Tidak, kecuali jika dia meminjamkan uang kepada Anda. Masalah ini harus benar-benar dijawab oleh seorang petugas pajak. Fajar 9 April 2008, 13:21 Terima kasih atas tanggapan Anda, dan untuk informasi online dan penunjuk. Saya telah menggunakan tabungan, jalur kredit dan saham yang ada untuk mendanai aktivitas trading saya. Saya akan menuntut bunga yang timbul dari jalur kredit saya meskipun tidak dimaksudkan untuk diperdagangkan. Fajar 9 April 2008, 13:32 Terima kasih atas tanggapan Anda dan atas informasi tentang program dan petunjuk online. Saya menggunakan tabungan saya, saham dan jalur kredit yang ada untuk mendanai aktivitas perdagangan saya 8211 I8217m berencana untuk mengklaim bunga yang terjadi pada garis kredit tahun ini. James 12 April 2008, 1:40 pm Satu hal yang perlu dipertimbangkan saat berinvestasi di RRSP Anda. Seperti yang Anda katakan, keuntungan modal dikenai pajak pada 100 tingkat marjinal Anda di dalam RRSP Anda, tetapi jika saya berinvestasi di katakan microsoft 25 tahun yang lalu, investasi 5000 saya sekarang bernilai jutaan sementara bunga saya yang memiliki ikatan panjang bernilai mungkin 13000. Saya dapat membayar Pajak dan masih memiliki hampir 1000 kali lebih banyak uang daripada jika saya berinvestasi dalam ikatan panjang. Saya tahu MSFT tidak persis khas dari rata-rata tingkat pengembalian ekuitas tapi saya harap Anda mengerti maksud saya. Bagaimana jika Anda berinvestasi di MSFT DI LUAR RRSP Anda Maka Anda akan mendapatkan semua apresiasi tersebut, namun hanya mendapatkan pajak atas keuntungan dan bukan 100. Itu benar dalam teori dan untuk sebagian besar, saya jelas setuju dengan saran Anda, namun saya pikir itu adalah Menyesatkan banyak orang yang tidak membutuhkan akun yang tidak terdaftar untuk apapun. Jika Anda memiliki ruangan dan masuk akal untuk memiliki portofolio Anda di RRSP Anda, itu akan lebih besar daripada gagasan untuk berinvestasi di luarnya. Juga, tidak ada yang menyimpan satu stok selama itu tanpa membayar pajak di sepanjang jalan dan hilangnya penggabungan itu sangat besar. Dalam dunia yang sempurna seseorang akan membeli Apple 30 tahun yang lalu dan meninggalkannya dan kemudian dalam kasus itu Rute yang tidak terdaftar akan menjadi jalan untuk pergi. Dua sen saya adalah bahwa itu tidak cukup seperti dipotong dan kering karena hanya mengatakan bahwa dia tidak berinvestasi dalam hal apa pun selain barang yang mengandung bunga di RRSP Anda. James 14 April 2008, 1:02 am Saya mungkin akan berinvestasi di MSFT di luar RRSP saya dan di dalam RRSP saya. Namun sejak kita berada di akhir gelar super super degree advance di harga saham (iya seorang pria gelombang elliott) Saya tidak akan berinvestasi terlalu banyak dalam ekuitas untuk jangka panjang. BTW kita akan memiliki satu lagi pembalikan tren kontra yang seharusnya membawa kita ke 2550 di NASDAQ sebelum langkah terakhir turun. Istri saya dan saya sedang dalam proses pembelian properti di Panama. Kami berencana untuk tinggal di Kanada selama 6 MTHS dan di sana selama 6 MTHS. Bagaimana keuntungan modal akan berhasil jika kami menjual properti itu atau membeli yang lain sebagai investasi dan menjualnya? Haruskah kami mendaftar Itu dalam nama kami atau membentuk perusahaan untuk pembelian ini. Guru Harap seseorang dapat membantu sayaChris Jika menggunakan nama perusahaan Anda hanya perlu membayar pajak saat Anda mengeluarkan uang dari perusahaan Anda, tetapi perusahaan Anda mungkin harus membayar pajak juga tergantung Dimana akan didaftarkan (Kanada atau Panama). Terrie 29 Juli 2008, 2:58 am Saya mengenal seseorang yang memiliki banyak saham, tapi juga banyak hutang. Apakah ada cara mereka dapat menggunakan beberapa saham untuk membayar beberapa hutang tanpa menimbulkan banyak keuntungan modal Satu-satunya pemikiran yang dapat saya pikirkan (saya pasti tidak terlalu ahli keuangan) adalah mentransfer beberapa saham ke RRSPs (maks keluar Ruang kontribusi mereka). Akankah mereka mendapatkan pengembalian pajak yang besar yang kemudian dapat mereka gunakan untuk membayar sejumlah hutang. Saran Terrie, Masalah dengan mentransfer saham non-reg Anda ke RRSP Anda adalah barang tersebut dianggap dijual dengan harga tertentu, yang berarti Anda akan dihadapkan dengan Sebuah pajak capital gain yang memberi keuntungan. Selain itu, jika ada KERUGIAN selama waktu itu, kerugian tidak dapat diklaim terhadap keuntungan apapun. Saya menyarankan agar teman Anda menghentikan semua kontribusi portofolio dan memasukkan semua arus kas, tabungan dan dividen yang masuk ke hutang. Jika bunga atas hutangnya tinggi, seperti hutang kartu kredit, mungkin layak untuk mengambil pukulan pajak dari menjual saham dan membayar tagihan. Denys July 29, 2008, 9:39 pm Apa situs yang bagus adalah saya berinvestasi di Reksa Dana sepanjang jalan dan informasi di sini (tentang CG, Dividen dan broker online) memberi saya gagasan bahwa HANYA cara yang tepat untuk menginvestasikan uang DI LUAR RRSP akan berada di Saham dan ETF. Saya punya beberapa pertanyaan di sini: 1. Apakah saya benar bahwa dengan Reksadana tidak ada keringanan pajak Seperti jika saya menginvestasikan 1000 dan kemudian menerima 1200 dari itu, maka saya membayar pajak 200 sementara jika saya melakukan hal yang sama melalui ETF, saya membayar Itu hanya dari setengah dari jumlah itu (menjadi 100) 2. Bagaimana dengan biaya yang dibayarkan kepada perusahaan pialang (5-10 per transaksi) Apakah dikurangkan dari pajak sebagai biaya investasi 3. Jika istri saya tidak memiliki penghasilan lain dan beberapa investasi ada pada namanya Dia tidak membayar pajak atas pendapatan investasi (bila jumlahnya di bawah 9k pa), namun ini mengurangi pajak pajak saya dan secara efektif meningkatkan pajak saya untuk sesuatu seperti 10-20 dari jumlah tersebut. Apakah ada keuntungan dalam hal ini dengan capital gain vs interest income Terima kasih banyak, FT Hi Denys, terima kasih atas umpan balik yang baik. 1. Keuntungan modal dengan reksadana diperlakukan sama dengan capital gain dengan ETF8217s. Jadi, dalam contoh Anda, pajak akan dibayar 100 pada tarif pajak marjinal Anda (mtr). 2. Komisi pada setiap transaksi digunakan untuk meningkatkan basis biaya yang disesuaikan. 3. Saya perlu menjalankan angka, tapi yang perlu dipertimbangkan adalah bahwa hanya setengah dari keuntungan modal yang ditambahkan pada pendapatan sehingga jauh lebih efisien daripada pendapatan bunga. Semoga ini bisa membantu FT Chuck 30 Juli 2008, 12:26 untuk Pertanyaan 3 Anda mungkin juga ingin istri Anda berinvestasi di saham yang membagikan Dividen. Selama perusahaan itu Kanada dan sebuah dividen yang memenuhi syarat (peraturan CRA8217s) ada keuntungan pajak. Seseorang bisa memperoleh sekitar 25k dalam pendapatan dividen yang layak dan tidak membayar pajak apapun padanya. Anda juga memiliki potensi agar saham bisa menghargai. Ken 3 Agustus 2008, 11:28 am Saya memiliki Korporasi yang memiliki Properti Real Estat Sewa. Perusahaan tidak melakukan bisnis lain (ini adalah perusahaan shell). Properti ini sekarang dijual (ditutup pada September tahun ini) Untuk potensi keuntungan sekitar 40K. Ini saya percaya akan mengklasifikasikan sebagai capital gain. Pertanyaan saya adalah a) Apakah semua ini kena pajak atau 50 adalah kena pajak b) Bagaimana meminimalkan pajak yang timbul dari penjualan ini James October 10, 2008, 4:09 pm BTW panggilan saya pada tanggal 14 April (pasar saham berada di akhir Kemajuan super super dan saya tidak akan berinvestasi untuk jangka panjang) tampaknya benar dalam hal uang. Sama-sama. Dudley Brown 12 Oktober 2008, 2:23 am Istri saya adalah warga negara ganda. Kami memiliki rumah kecil di negara asalnya dan ingin menjualnya. Tentu saja, kita harus membayar pajak di sana, tapi haruskah kita membayar pajak capital gain di sini di AS Rumah ini adalah tempat tinggal kita sampai kita kembali ke AS sedikit lebih dari 2 tahun yang lalu. Kami memiliki rumah sewaan di AS yang saat ini merupakan rumah permanen kami. Tidak dapat mengecilkan uang 30 Oktober 2008, 11:59 pm Apakah kerugian dangkal bekerja (hampir terbalik) jika satu stok pendek, kemudian membelinya kemudian dengan harga lebih tinggi untuk membawa posisi ke posisi nol, dan KEMUDIAN membelinya lama, menjualnya di Keuntungan semua dalam 30 hari tapi tanpa menyadari keuntungan keseluruhan Xin 31 Oktober 2008, 12:29 pm Terima kasih banyak atas artikel ini. Tapi dengan situasi keuangan saat ini, saya memiliki lebih banyak pertanyaan tentang capital loss. Saya pikir itu saat yang tepat untuk mewujudkan kerugian modal saya di tahun ini. Saya takut dengan aturan kerugian dangkal. Dan juga sebagai trader, saya bisa melakukan transaksi saya dalam 30 hari sekali. Bagaimana saya bisa mengklaim kerugiannya? Cukup gunakan teladanmu tapi dengan cara lain. Katakanlah: Beli 10 saham ABC dengan total biaya 1000 Jual 10 saham ABC untuk: 1200 Keuntungan: 200 Pembelian Kembali 10 saham ABC dalam 30 hari untuk: 850 Jual 10 saham ABC di masa depan 550: Laba: 200 (keuntungan awal) - 850550 -50 (Rugi) Selama saya tidak membelinya kembali setelah kehilangan ini, saya dapat mengklaim kerugian 50 sebagai kehilangan modal. Apakah saya benar. Jadi sebenarnya tidak masalah berapa transaksi yang telah saya lakukan antara tahun ini. Selama setelah terakhir anda jual. Anda tidak membelinya kembali dalam 30 hari. Anda bisa mengklaim rugi. Barry 23 November 2008, 6:17 situs hebat 8211 terima kasih atas pelayanan publik tanpa pamrih seperti itu. Pertanyaan yang terkait: Menurut saya biasanya diperlukan waktu 3 hari untuk menghapus setiap transaksi jika saya menggunakan uang tunai di akun saya (tidak pada margin) tapi bagaimana jika saya membeli saham dengan harga 20 dolar, menjualnya pada harga 21, akan turun menjadi 19 dan Saya membeli kembali dengan harga itu hanya untuk menjualnya di 22 8230 dan semua jual beli terjadi dalam jangka waktu 30 hari. Kesempatan gemuk Tapi apakah ini legal dan merupakan satu-satunya implikasi pajak yang diperoleh modal hanya pada dua kesempatan terpisah dalam periode tersebut 8230 mengenakan pajak atas 50 keuntungan Anda yang biasa. Jeanette - ibu tunggal 2 Desember 2008, 1:30 pm Saat ini saya memiliki modal yang menghargai Saham dalam RRSP8230 saya apa cara terbaik untuk mengeluarkannya Saat ini mereka dalam posisi rugi. Mike 7 Desember 2008, 11:29 pm Jika saya menjual beberapa saham di tahun 2008 dan merupakan pecundang bersih keseluruhan pada tahun ini, dapatkah saya mengklaim kerugian modal terhadap pajak penghasilan saya Atau apakah kerugian modal meluncur ke tahun depan dan Offset keuntungan modal Berapa lama Anda bisa terus berguling kerugian ini? Bagaimana jika saya tidak menjual saham apapun pada tahun 2009, dapatkah kerugian modal saya yang 2008 diklaim pada tahun 2010 atau 2011 Apakah penghasilan forex dikenai pajak di bawah capital gain RM 17 Januari 2009, 8:36 pm Saya memiliki pertanyaan tentang RRSP Anda vs. yang tidak terdaftar Kesimpulan akun Ketika saya berkontribusi pada RRSP saya, kontribusinya dapat dikurangkan dari pajak. Jadi (simplistis) jika I8217m berada di kelompok marjinal teratas dan mendapatkan 5.000 bonus di akhir tahun, saya dapat memberi kontribusi 5.000 kepada RRSP saya untuk mendapatkan hasil investasi. Setelah 30 tahun di 8 kembali (semua keuntungan topi) saya akan memiliki 50.313 di RRSP saya. Jika saya mengambil semuanya, dan dikenai pajak dengan jumlah penuh pada tingkat pajak marjinal teratas (43) saya akan berusia 28.679 (50.313 (1-43)). Sekarang, jika saya menginvestasikan uangnya di akun yang tidak terdaftar di luar RRSP saya, saya akan mulai dengan 2.850 setelah pajak (di 43). Peracikan ini 8 selama 30 tahun saya akan memiliki 28.679 di akun saya yang tidak terdaftar. Jika saya menjual semua surat berharga saya pada saat itu dan menyadari kenaikan 25.829 (28.679 dikurangi 2.850), saya akan dikenakan pajak sebesar 5.553 (25.82950 inclusion ratemarginal 43 tingkat pajak). Ini akan meninggalkan saya dengan 23.126 (28.679-5.553). Jika saya membandingkan keduanya, saya akan menjadi 5.553 orang kaya (28.679-23.126) dengan berinvestasi melalui RRSP saya. Perhatikan bahwa, keuntungan dari investasi melalui RRSP saya akan lebih besar lagi jika saya mulai menggambar dari RRSP setelah saya pensiun, karena saya tidak akan dikenai pajak lagi pada tingkat marjinal atas uang yang saya tarik (sejak penarikan dari saya RRSP akan menjadi satu-satunya sumber pendapatan saya). Beritahu saya jika ada sesuatu yang salah dengan analisis saya. RM, sekilas, matematikanya terlihat benar. Menengok ke belakang, mungkin saya agak cepat berasumsi bahwa menjaga agar modal menghargai investasi di luar RRSP adalah taruhan terbaik. Namun, satu hal yang harus Anda perhatikan adalah bahwa Anda berasumsi bahwa investor menginvestasikan kembali 100 pengembalian pajak. Begitu investor mulai melakukan verifikasi pajak rrsp (sayangnya, apa yang mayoritas dilakukan orang), kekuatan rrsp8217s cepat menyusut. Pertanyaan umum akhir-akhir ini bukan rrsp vs non-reg, sekarang ini rrsp vs tfsa. Mojo30 12 Februari 2009, 12:08 pm posting pertama, saya telah browsing off dan on untuk sementara dan memutuskan untuk bergabung dalam percakapan. Apakah pajak capital gain harus dibayar jika uangnya tidak ditarik ke mojo30, dengan akun kena pajak (non-reg), pajak capital gain terutang saat menjual saham yang menguntungkan. Annette 22 Desember 2009, 11:56 Saya melihat kemungkinan menguangkan beberapa saham untuk tujuan pembelian kembali dan menginvestasikannya di TFSA saya. Saya mengerti bahwa saya akan mendapat keuntungan sekitar 20 dari capital gain saham (atau 40 persen dari separuh keuntungan modal yang diperoleh) jika saya dalam tingkat pajak tertinggi. Apakah ada cara agar saya dapat menghindari hal ini Apakah ada cara untuk menerapkan pembebasan pajak pribadi 750.000.000 orang pribadi untuk keuntungan modal di Kanada Apa yang akan Anda sarankan Terima kasih Annette, pembebasan keuntungan 750k cap adalah untuk pemilik ccpcs (copot pribadi yang dikendalikan Kanada ) Saat mereka menjual sahamnya. Itu tidak berlaku bagi investor yang membeli saham publik. Tidak banyak yang bisa Anda lakukan untuk menghindari keuntungan modal selain menjual saham Anda yang kalah untuk mengklaim kerugian modal terhadap keuntungan Anda. Selain itu, jika Anda tidak memaksimalkan RRSP Anda, berkontribusi akan membantu mengurangi beban pajak Anda. Kartu cashback 23 Desember 2009, 13:28 Apakah selalu akan benar di 50, andor adalah bahwa Kanada hanya bertanya-tanya. Great informasi meskipun benar-benar membuat Anda berpikir tentang di mana Anda meletakkan uang Anda dan bagaimana membuatnya benar-benar bekerja untuk Anda dan bukan gov8217t. Lorca 19 Februari 2010, 11:33 pm Artikel bagus I8217m baru berinvestasi dan saya mencoba menjadi lebih hemat pajak. Saya berhasil memaksimalkan TFSA saya tapi pasangan saya memiliki 10.000 ruang sumbangan yang tidak terpakai. Saya ingin menjual reksa dana saham senilai 10 000 di akun non-reg saya dengan kerugian untuk mengimbangi beberapa keuntungan dan membeli kembali dana yang sama pada waktu yang sama (karena saya yakin mereka akan pulih dan berpotensi melakukannya dengan baik di masa depan) Di TFSA pasangan saya untuk melindungi keuntungan modal masa depan. Apakah aturan kerugian dangkal berlaku untuk pembelian kembali dalam waktu 30 hari di bawah akun pasangan suami-istri Peter 8 Maret 2010, 1:58 pm Pertanyaan konyol - apakah pialang Anda mengirimkan formulir yang menunjukkan bahwa keuntungan modal Anda Peter, dari pemahaman saya, Anda bertanggung jawab untuk melacak Membeli buysells sendiri, di sana untuk keuntungan modal Anda. Sebagian besar broker dapat memberikan ringkasan aktivitas trading Anda sepanjang tahun. Xtrykr 12 Maret 2010, 2:43 am Hi FrugalTrader, katakanlah saya memiliki skenario berikut: 20 Agustus Bough 40 saham A untuk 100 Agustus 24 Membeli 20 saham A untuk 50 Sep 01 Membeli 20 saham A untuk 50 Sep 10 Terjual 80 saham A untuk 150 Sep 14 Membeli 30 saham A untuk 50 Sep 23 Membeli 20 saham A untuk 75 Sep 30 Membeli 20 saham A untuk 75 Okt 01 Memasarkan 70 saham A untuk 150 Okt 08 Membeli 40 saham A untuk 100 Okt 16 Terjual 40 saham A untuk 150 Bagaimana cara menafsirkan ini Apakah saya mengusahakannya sebagai: 1) kehilangan kerugian 50 dari 10 Sep Sell plus cap loss 50 dari Okt 01 Jual 100 cap loss terhadap 50 cap gain dari 16 Okt penjualan , Yang merupakan kerugian kerugian bersih 50 2) Cap loss 50 dari Oct 01 Sale terhadap 50 Cap gain dari penjualan 16 Oktober, yang bersih nol (karena pembelian kembali saham dalam 30 hari) Masalah yang dihadapi I8217m adalah saya memiliki beberapa saham Dalam portofolio saya bahwa saya hari diperdagangkan (I8217m bukan trader hari profesional, sedang menggelar dadu pada beberapa pilihan saya). Saya telah menyelesaikan serangkaian sekitar 20 perdagangan dengan saham tertentu selama rentang 3 bulan. Berdasarkan peraturan tersebut, saya memiliki banyak kerugian dangkal pada sebagian pilihan saya, dan akibatnya, ingin mengetahui bagaimana menafsirkan ini dalam skenario saya. Thanks in advance Xtrykr 13 Maret 2010, 1:38 am Saya benar-benar memiliki satu pertanyaan lagi, apakah saya harus mengisi Jadwal 3 untuk SETIAP saham yang telah saya tukar, dan buang, menghasilkan keuntungan (saya melihat Jadwal 3 Bentuknya, hanya memiliki satu baris untuk satu perusahaan). Saya telah menukar sekitar 15 perusahaan yang berbeda, apakah saya harus mengisi jadwal 3 untuk masing-masing atau mungkin saya hanya menjepret spreadsheet saya dengan perhitungan ACB dan capital gainloss saya dan katakan kepada mereka untuk merujuknya Terima kasih. Lisa 27 Maret 2010, 8:19 pm Great Info Hanya ingin mengecek. Saya menarik uang dari rumah pembeli RRSP saya tahun ini. Itu adalah sebuah kerugian. Dapatkah saya mengklaim ini sebagai kerugian modal yang saya pikirkan tidak tapi ingin diperiksa. Lora 8 April 2010, 11:37 pm Hi Bank saya lebih menagih bunga untuk akun margin yang saya gunakan untuk berinvestasi di saham. Saya menerima sepucuk surat dari pialang saya bahwa mereka salah menghitung bunga, dan mengembalikan uang ke rekening investasi saya, pertanyaan saya adalah untuk tujuan pajak berapa jumlah uang yang saya bayarkan sebelumnya karena suatu kepentingan dipertimbangkan setelah saya mendapatkannya kembali. , Jadi semua pajak atau capital gain jadi 50 akan dikenai pajak, atau dihitung dalam perhitungan pajak saya untuk tahun2009 Informasi cemerlang disini Menjadi seorang Kanada sendiri, ini telah mengajarkan saya banyak wawasan tentang pajak capital gain. Ini penting untuk diingat bukan tentang apa yang Anda buat, tapi apa yang Anda simpan. Dengan strategi ini, saya akan tahu bagaimana melindungi keuntungan modal saya dalam jumlah besar. Ini akan menjadi pengembalian dana dari bunga yang Anda bayarkan ke rekening margin Anda, jadi Anda harus menggunakannya pada pengembalian pajak untuk mengurangi pengurangan bunga. Halo, Sedikit dari topik, ibu saya menerima saham dari warisan suaminya yang terlambat. Ada biaya transfer dan biaya untuk mengamankan obligasi agar memungkinkan pengalihan aset non-probalized. Dapatkah kedua biaya ini diperhitungkan saat menghitung keuntungan modal nanti (yaitu dikurangi dengan cara yang sama seperti biaya perantara untuk pembelian?) Karim 27 April 2010, 6:31 pm Saya yakin ini telah diajukan sebelumnya tapi saya tidak dapat menemukan Jawab ini Misalkan Anda mengumpulkan akumulasi kerugian modal pada saham perdagangan. Jika Anda kemudian memperoleh keuntungan modal dari penjualan real estat, dapatkah kerugian modal dari saham digunakan untuk mengimbangi keuntungan modal dari penjualan real estat Karim, ya, Anda dapat menggunakan kerugian modal dari saham untuk mengimbangi keuntungan modal dari real estat (dan dan sebaliknya). Sebenarnya, saya melakukannya di tahun 2009, menjual saham dengan kerugian untuk mengimbangi keuntungan modal dari penjualan properti sewaan. Ben 7 Mei 2010, 4:56 pm Saya dekat dengan masa pensiun dan saya telah mengumpulkan saham dalam akun yang tidak terdaftar selama karir saya melalui rencana pembelian saham perusahaan. Karena hampir pensiun, sekarang saya lebih menghindari risiko dan ingin memindahkan saham ini ke tempat yang lebih aman seperti Obligasi Pemerintah. Tidak akan melakukan ini sekarang mendorong tingkat pajak marjinal saya yang sudah tinggi dan menghasilkan keuntungan modal yang dikenakan pajak sangat tinggi dibandingkan dengan menjaga persediaan dan menjualnya sedikit demi sedikit selama masa pensiun saya ketika saya memiliki penghasilan lebih sedikit Apakah ada cara untuk memindahkan orang yang tidak terdaftar Portofolio ke tempat yang lebih aman tanpa harus dihukum karena melakukannya dalam satu langkah selama bertahun-tahun dengan tingkat marjinal karir Ben yang paling tinggi, jika Anda menjual atau mentransfer saham, saya yakin Anda akan menghadapi pajak capital gain. You might be better off waiting until retirement to sell, that is, if you believe your company will continue to be strong until then. Ofcourse, you may want to consult with an accountant. There are a few issues to your question, Ban. Yes, if your shares are up, the capital gain will be taxable. However, it is only 50 of the gain that is added to your income, not the amount you sell. If you buy bonds, the interest is all 100 taxable every year, which will also run into more tax. You should probably consider the non-tax issues as well. Having all your shares in one company is very risky 8211 far more risky than owning a broad stock market investment. Any one company can go bankrupt. Many people somehow think that having shares of the company they work for is safer, because they know the company. However, they already have their job and more tied up in that company. The general rule of thumb is that you should have no more than 5-10 of your investments in any one company 8211 even one you work for. It probably makes sense to become more conservative when you retire, since you are no longer adding money to your investments, but probably the biggest mistake many seniors make is to become far too conservative. You probably still have 25 years in front of you if you are average health, so it is probably still appropriate to have a significant growth portion of your portfolio. The best strategy might be to sell most of the shares and buy a diversified portfolio based on your risk tolerance and retirement incomegrowth needs, using some far more diversified investment for the equity portion. There is also the issue of whether you should sell now or after you retire, or if you should do it all at once or sell over time. Depending on your income, you may be in a lower or higher tax bracket after you retire. Most seniors are also affected by various clawback programs on income from the government. When you add that to normal income tax, many seniors are in 40-70 tax brackets, so don8217t just assume you will be in a lower tax bracket after you retire. Since your investments are non-registered, your choice of investments will have a significant effect on your tax bracket, so you have lots of planning options. Tommy July 16, 2010, 3:06 pm Thanks for explainging the 822030-day rule8221. Since I have 40K non-registered money, and still have a personal mortgage, I am looking to perform SM by paying down my mortgage first and then reborrow for investments. A lot of stocks are still down, if I decide to sell at loss, and repurchase back within 30 days, I technically lose the 8220capital loss8221 priviledge. However, if I am purchasing the same stock within 30 days, and I still see the future growth of the stock, the loss portion can be deducted from the profit when I do sell the security in the future right In words, the loss can reduce the adjusted cost base of the same security ie. Buy Stock A for 1000 Sell at 800 (200 loss) Repurchase in 3 weeks at 900 In the future, I sell at 1200 My adjusted cost base is 1200 8211 900 8211 200 loss 100 capital gain Is this correct calculation Emily September 8, 2010, 12:16 pm Slightly off topic however, I am looking into the SPP with BNS and can only find info for current shareholders wishing to acquire additional common shares of the Bank. How do you go about becoming a shareholder in the first place. I found this same issue with many Canadian companies offering SPP. I am very new to this so would appreciate some direction. Great article by the way Emily, to purchase via SPP, you need to contact the company directly. For example, with Scotia Bank, you can find the info here: scotiabankcdacontent0,1608,CID1017LIDen,00.html Alex October 10, 2010, 4:34 pm It8217s my first year investing in US stock with a Canadian broker( questrade ). I was wondering if I have to fill up special income tax forms for US stock that I sold in my non-reg account And do I have to file something to the US gov Alex, no tax payable to the US govt. However, if you invest in US stocks in the future that have dividends, you can request to have your withholding tax reduced by contacting the discount broker. They will send out a form to complete. Donna December 28, 2010, 6:04 pm A Canadian owns a company and manages investments for his clients through the rental of a seat on the NYSE and a subscription to a service which enables trading (ie Interactive Brokers). 82 of the income comes from management fees charged to the client. The company also has some cash which the person uses to trade futures. He does day trading with this account. This is the other 18 income for the company. A T5008 is received at the end of the year. Is the reported income a capital gain or regular income thanks Pasan December 29, 2010, 11:15 pm If I transfer a stock from a non-registered account to TFSA, I was under the impression that, it count as selling the stock from the non - registered account for Tax purposes. If I had a capital loss on that stock, can I claim that loss e. g Bought stock ABC at 1000 in non-reg. account and transfered to TFSA when it is 800. Can I claim a loss of 200 Pasan, in that case, you8217re better off selling the stock, claim the loss, then contribute the cash to the TFSA. CRA is not allowing capital losses on transfers 8220in kind8221 to a TFSA. If you transfer in a stock that has a gain, you have to claim the gain, but if there is a loss it is denied. You should follow FT8217s advice 8211 sell the stock first and then contribute the cash. Rob January 12, 2011, 3:56 am Frugal Trader, I am a frequent trader, not a daytrader but a swing trader. I was wondering if I have to declare all capital gains for each transaction regardless the amount, or there is a min to declare. I ask this because there are transaction that I came out flat ( maybe made 5 dollars or so) Rob, my understanding is that you need to calculate all your transactions, no matter the amount. Best to confirm with an accountant, but that8217s what I8217ve had to do in the past. Ian A Rocks January 19, 2011, 6:40 pm I am a US citizen and wish to invest in Canadian Stocks in a Canadian and USA stocks and commodities in a Canadian denominated account. I will be considered a trader. I will have no Canadian employment income. A. If i have 20,000 in capital gains what will my Canadian taxes be B. Will the amount of Canadian taxes be credited against my USA taxes due Cathryn January 23, 2011, 5:08 pm Number 73 is correct on the math. Also, do the math on TFSA8217s vs RRSP8217s 8211 and see the interesting result there. Since the two vehicles deal with tax at different entry points, it is best to do the math right through two examples with indentical earnings. In Retirement, a RRSP 8211 converted to a RRIF also gets an additional 2000 tax exemption ( x 2 if you have done Spousal) plus there is the added factor of the additional age tax credit along with the already existing personal tax credit. NovaScotian May 26, 2011, 2:19 pm Wondering how to calculate this. Owe 100 shares of a company that is DRIPPed. Then buy 150 shares of this company and put in a sell order to sell 150 shares. How do you record capital gains and ACB for the 2 scenarios (1) The 150 shares are sold before the ex-dividend date, so no DRIP (2) The 150 shares are sold after the stock as DRIPPED Any help would be appreciated. Showtime September 9, 2011, 8:03 pm Good tips. I have been questioning the merits of non-reg acct in general if there is still contrib room in tfsa or rrsp. I was thinking about this even before I came across RM8217s post 73. My thinking is that non-reg is actually getting taxed twice: once at marginal rate because non-reg is funded w after-tax dollars, and taxed again when it generates gainsdivsinterest, etc. Rsp and tfsa are only taxed once, tfsa at funding and rsp at withdrawal. There are some reasons to contrib to non-reg (eg can claim cap losses, no limits, etc) but it could be argued to not even use non-reg while one still has tfsa and rrsp room. That said, it should be noted for certain income levels (varies per province), divs in non-reg acct are exempt from tax8230not only that cra will actually pay you, ie negative tax rate on divs. Something else to consider is growth of investment eg 100k into an acct and it grows to 200k for withdrawal. Due to this factor (and other factors), non-reg withdrawal tax may actually be lower than rsp over a very long time, maybe 30 years. Even tho non-reg is being taxed twice (in and out), the lower tax on divs and gains may eventually be more economical vs rsp8217s perpetual marginal rate for withdrawals, but probably after many decades. toasty November 6, 2011, 6:32 am Little late to this thread, but I believe stating that keeping capital gains outside of RRSP is correct, but for different reasons than stated here. You say: 8220The 50 inclusion rate is a reason why most financial gurus suggest that you keep investments for the purposes of capital appreciationgain outside of your RRSP. If you keep your capital appreciationgain assts inside an RRSP, you will be taxed on 100 of the gain because all income withdrawn from an RRSP is taxed at your marginal rate.8221 The problem with this statement is that you are forgetting that the 50 is on profits of after-tax money. So in actuality you are getting taxed twice which comes out to more than the 100 if it were in RRSP, which is pretax money. I think what they are trying to say is that is would be better to put in other types of investments which are taxed at a higher rate than capital gains. Example: You have 1 to invest. Assumes constant tax rate of 0.33 and 10 growth over whatever period. RRSP: principle (1 growth) (1 8211 tax rate) RRSP: 1 (1 0.10) (1 8211 0.33) non-reg: principle (1 8211 tax rate) principle (1 8211 tax rate) (growth) (1 8211 tax rate 2) 1 (1 8211 0.33) 1 (1 8211 0.33) (0.10) (1 8211 0.33 2) trollmonger June 6, 2012, 3:19 pm My wife owns a house that is not her primary residence. Accordingly, she will pay capital gains taxes when she sells. But what will be her tax rate Is the capital gain part of her income For example, Purchase price: 200K Sale price: 600K Capital gain is 400K of which 200K is taxable. If her employment income is 40K, is her tax rate based on 40K or 240K for that year trollmonger, best bet would be to input your tax scenario into a tax calc, like taxtips. ca, and see what kind of tax owning there will be. As well, did you wife life in the home at all If so, then the adjusted cost base will be different than her purchase price. trollmonger June 7, 2012, 12:52 pm Taxtips answered my question. It wasn8217t the answer I was hoping for though. That8217s a lot of taxes She did live in the house before we married. Her parents live there still. I didn8217t think to have the house appraised when she moved out but I8217m sure we8217ll find a way to estimate the value at the time. We just need CRA to agree. Dan September 18, 2012, 12:14 pm Hi FT, I just found your blog and it is an awesome blog seems I am pretty much on the same boat as you are. A quick question about Capital Gain. I have a decent size investment managed by a private investment firm (a division of a big bank) on a non registered account which currently have about 50K capital gain should I liquidate the account. The investment is invested in money market, stocks and bonds in Canada and US. I recently decided to learn more about investing and have a self-directed account for RSP and TFSA on a brokerage account of the same bank. My goal this year is to take over my non registered investment account from the private investment firm and self manage it. Hence, avoid the hefty fee that they charge every month. My question is: when I am ready to take over my non registered investment account, should I liquidate it and realized the 50K capital gains or will I be better off to actually transferred the investment to my discount brokerage without liquidating the assets i. e. carrying the original costs of the investments to the discount brokerage (I understand from my broker that this is possible since both my discount brokerage account and non registered investment are divisions of the same big bank). FYI: this year my marginal tax will be very low since I took some time off and have not earn much income (my expected income outside any capital gain will be in the 20K-30K neighborhood). Dan, thanks for the kind feedback. Do you still like the investments that are held in the private account If so, then you should consider simply transferring in-kind to another non-reg account and managing them from there. I believe brokerages will charge about 150 to transfer stocksbonds over to a new account. Dan September 18, 2012, 11:11 pm I do like some of the investments but will definitely get rid some of it. Consideration to liquidate or not was more for the tax purposes since this year my marginal tax will be at lower rate. I thought it would be a good idea to realize the gain. But I am not sure if that will actually matter. Dan, it8217s never a bad thing to pay less tax However, you also need to look at the big picture and if you would sell the investment at all if it weren8217t for the tax consequences. Mike February 10, 2013, 11:17 am Let8217s assume that I buy 100 shares of the same stock each month for 25 years, and plan to sell them for retirement income as needed. It8217s safe to assume that the price per share will change month by month, or year by year. In 25 years from now when I start selling portions of my portfolio for retirement income, how do I know what price I paid for the portion of shares I8217m selling Danielle February 23, 2013, 12:43 am Mike, the adjusted cost base of the shares is affected each time you buy more shares. If you continue to buy shares and the price per share goes down, then this will decrease your ACB. And subsequently affect any gains you may have. When you eventually sell, the gains and losses are calculated using the adjusted cost base. Think of all the shares going into a cost 8220pool8221 in which the cost is adjusted every time you buy more shares of the same company. When you do sell the shares the taxes you pay will be based on your marginal tax rate. Any capital gains will be included in your income for that year (50). The other 50 of the gain is not taxable. gogernator December 10, 2013, 2:18 pm HI Folks, I have a quick question 8211 I have a capital loss that I8217m carrying of around 11k, I8217m going to sell some stock options I have creating a capital gain, is the loss applied against the gain only, or on total amount of the share options excersied An example would be: I excercise 40K in share options and recieve 30K in net cash (50 of 40K is 20K taxed at 50 10K in tax). Would my capital loss of 11K be applied against the 20K in capital gain gross ie my 20K becomes 10K and I now only owe 5K in capital gains tax Wayne March 10, 2015, 11:38 pm I8217m in something similar to the Smith Manoeuvre. I have a HeLOC and I pay into Segregated funds every month and the interest only payments. As my funds build up in value, eventually, I can cash out and pay off my home. My question is8230 How do I know what my Tax Hit will be before I cash out someone said to cash out 30,000 for the next 5 years to minimize Capital Gains Tax Can you tell me how I would figure out the Tax Hit I guess I go back to the holder of my Seg Funds and ask them Both my fund mgr and the holder of the funds said my taxes would be approx. 6,000 on withdrawal of 30K8230. when I got my T-3, the capital gains was like 14K what gives How do I find out what my taxes on capital gains will be I8217d like to cash out totally but I8217m afraid of the Tax Hit. Thanks Wayne. ova March 24, 2016, 9:09 pm My question is regarding the superficial loss rule. Are losses only unclaimable when you buy back the same security within 30 days after sale. Or is it also unclaimable if you sell within 30 days after buying. I8217ve heard it8217s realy a 60 day rule, 30 days before and 30 after. Can you please comment. Terima kasih. Mary September 2, 2016, 5:48 pm Instead of taking my RRSP payment I opened a regular stock account and transfered all of the payment including cash an stocks into it. I paid tax each year on my RRSP amount. I have now got cash sitting in this regular account that I would like to withdraw. Do I have to pay tax on this money which I already paid tax on before Hi Mary, if you are referring to a non-registered account, then you can withdraw cash from the account without paying tax. However, if you had capital gains in the account, you will owe taxes when you file your tax return. Tax Prep Costs 2016: How Much Does it Cost to Have Your Taxes Done The cost to file income taxes can fall anywhere between zero dollars 8212 as in you do your taxes yourself and file for free 8212 and several hundred dollars, with an average cost of 273 for using a tax preparer, less if you don8217t itemize (159), according to the most recent data available from the National Society of Accountants . To judge the value correctly, though, those costs have to be weighed against the results you get, your own comfort level with going DIY, plus what could go wrong if things don8217t work out. To help you weigh the pros and cons, Get Rich Slowly has compiled this guide with detailed cost comparisons. What are your tax-preparation options Basically, there are four options. Heres the run-down: Do it yourself. For basic tax returns, preparing it yourself is a fairly straightforward process, especially with IRS online forms and instructions. However, the more complicated your tax situation 8212 e. g. your eligibility for itemized deductions or tax credits 8212 the more you might benefit from the type of analysis and advice that a simple online template can8217t give you. Downloadable tax-preparation software. Downloadable tax-preparation software can help walk you through the steps of more complex tax returns, and perhaps present you with more options relevant to your situation than would occur to you just working through a form yourself. Online tax-preparation services. This provides automation similar to tax-preparation software, only you enter your information online rather than onto software that you download to your computer. The difference comes down to how secure you feel having all that information online in the hands of a third party (i. e. other than you and the IRS). A tax-preparation professional. Tax professionals can give you customized advice that can save you money this year and perhaps make you more tax-efficient in years to come. However, that advice is only as good as the qualifications of the person giving it, so you need to do some due diligence not just on the firm you use, but on the person responsible for your return. A bit about state tax returns If you live and work in Alaska, Florida, Nevada, South Dakota, Texas, Washington or Wyoming, congratulations you dont have to worry about state taxes. Otherwise, youll probably have to file a state tax return. If you had income from multiple states, you may be required to file in more than one state, and this will likely cost you additional tax preparation fees for each state. What do different tax-preparation approaches cost As you can imagine, costs for the different approaches above vary widely. Even the cost for the same type of approach can differ greatly depending on your situation and which provider you use. As a result, there is no single figure that can be quoted as being indicative of the cost of each approach. Instead, we hope to show the range of costs that are out there which can give you a representative idea of what each entails. Do it yourself. It costs nothing to use the IRS resources and file your returns on its website, though some do-it-yourselfers do incur costs by buying books and other reference materials to help them understand their tax situation. However, the public library system is a good resource instead of buying these types of books. Downloadable tax-preparation software. Online tax-preparation software assists you in completing and submitting the necessary forms. Weve been monitoring these expenses for a few years now, and there hasnt been a lot of fluctuation in price over time. The cost goes up depending on how many forms you use or how many state returns you file if, say, for example, you moved during the year. The prices listed in the table below are the lowest amounts for the simplest of returns for Tax Year 2015. If you are using one of these DIY services, look for a discount coupon before starting 8212 there are plenty out there. Downloadable Software 8211 Lowest Advertised Cost for Tax Year 2016 Notes: 1. Prices shown are lowest online advertised price as of November 8, 2016. 2. Most 8220free8221 services are limited to customers with a certain tax situation. 3. Information provided is for general guidance only. Contact provider or visit official website for specific details, as prices can change without notice . Cost to Professionally Prepare Other Tax Forms Not everyone has a simple return. Heres what the NSAs most recent survey found for average tax preparation fees for more complicated forms: 174 for a Form 1040 Schedule C (business) 634 for a Form 1065 (partnership) 817 for a Form 1120 (corporation) 778 for a Form 1120S (S corporation) 457 for a Form 1041 (fiduciary) 688 for a Form 990 (tax exempt) 68 for a Form 940 (Federal unemployment) 115 for Schedule D (gains and losses) 126 for Schedule E (rental) 158 for Schedule F (farm) In terms of location, the association also found the West had the most expensive returns per Census region: They calculated the average tax preparation fee for an itemized Form 1040 with Schedule A and a state tax return. Here8217s how it breaks down according to the NSA: 348 for the Pacific (AK, CA, HI, OR, WA) 314 for the Middle Atlantic (NJ, NY, PA) 268 for the South Atlantic (DE, DC, FL, GA, MD, NC, SC, VA, WV) 262 for East South Central (AL, KY, MS, TN) 256 for Mountain (AZ, CO, ID, MT, NV, NM, UT, WY) 246 for New England (CT, ME, MA, NH, RI, VT) 240 for East North Central (IL, IN, MI, OH, WI) 205 for West South Central (AR, LA, OK, TX) 198 for West North Central (IA, KS, MN, MO, NE, ND, SD) Advice on Hiring a Tax Preparer When it comes to hiring a tax preparer, in-person advice is only as good as the qualifications of the person giving it. Here are some things to think about: Check your preparers professional designations. A CPA, tax attorney, or Enrolled Agent is a plus. An enrolled agent is a tax preparer who has specific and technical expertise as defined by the U. S. Department of the Treasury. Once they become 8220EA8221s they can represent taxpayers before all administrative levels of the IRS. According to the National Association of Enrolled Agents you earn the designation if you8217ve worked for five years at the IRS 8220in a position requiring the interpretation of the tax code8221 or pass an exam plus background check. Make sure a preparer has a Preparer Tax Identification Number (PTIN). The IRS now requires all paid tax preparers to have a PTIN, so steer clear of a preparer who doesnt have one. Research your preparers history. Check with your local Better Business Bureau to see if there have been any complaints. Skim online reviews, remembering to take both highly negative and highly positive reviews with a grain of salt. Full time vs. part time. Many tax preparers work seasonally, but people with complex tax situations often need advice throughout the year. Ask about audit services. It helps to have assistance from your tax preparer if you are audited. Some preparers include this in the price of your return, others charge extra, and still others dont provide this service at all. You should know whether your preparer will back up their work if you are audited, and how much it will cost you to get that assistance. Ask about audit experience. Some successful IRS audit experience can be a plus multiple instances of audits that went against the taxpayer should be a red flag. Bottom line on finding a tax professional Perhaps the most important decision in choosing tax-preparation help is fitting the service to your needs. Depending on your situation, free advice can be a tremendous bargain or it could be the most costly mistake youve ever made. Know your tax situation, and get appropriate help if you need it. Above all: The IRS advises taxpayers that when using a paid preparer, never sign a blank return in advance. Why cost isn8217t the only consideration You can get quotes and compare costs, but bear in mind that cost is not the only consideration. Here are some other things to think through: Your time. Let8217s say you can save 50 by doing your taxes yourself. What you have to ask yourself is how long it will take you to complete your returns and how you value your time. You might well find that the value of your time exceeds, or at least significantly offsets, the cost of paying to have your taxes done. The risk of over-paying. Tax laws change all the time, impacting credits, deductions, and different options for treating income and investments. Missing just one potentially tax-saving new wrinkle could cost you a multiple of what you would save by doing the returns yourself. Possible fines for mistakes. For individual and estate tax returns during the 2014 fiscal year, the IRS assessed more than 31 million penalties, totaling just over 13 billion in value. Clearly, it is all too easy to make a very costly mistake in preparing returns. Legal consequences for misleading returns. Beyond monetary penalties, particularly serious tax violations result in criminal prosecutions. When this happens, the IRS secures a conviction in the majority of cases it investigates, and nearly 80 percent of those convicted do jail time. How to choose a tax preparation approach Besides weighing the cost and consequences of various tax preparation methods, here are some other things you should do when choosing your approach: Match the approach to your needs. Generally speaking, the more complex your tax situation, the more help you are likely to need. As your wealth and family size increase, the more you might want to use electronic tax tools or professional help 8212 which is just as well because, as your career goes on, you are more likely to be able to afford that assistance. Choose software that is up to date and well supported. If you use software, make sure it is up to date both technologically and with respect to changes in the tax code. Also, find out in advance what kind of user support is available. Consider the reputation and resources of each provider. Do some online searching, and also find out what resources any tax preparation firm or technology provider has to keep abreast of tax code changes and tricky interpretations. Take the long view. Often, people are so focused on meeting the April 15 filing deadline that they don8217t think of any possible tax issues beyond that, but there are longer-term considerations. For example, some approaches offer better record-keeping that might help you if you need to reference past returns at some point. Also, active tax advice can help you better minimize your taxes and right-size your payroll withholding so more of your money can be earning interest in a savings account rather than being held by Uncle Sam throughout the year. Plenty of people successfully complete their own returns every year. The important things to know before you decide to do it yourself or pay for tax preparation are how the complexity of your tax situation compares to your expertise, and what the consequences of a wrong decision could be. What option will you select this year for how to prepare your taxes How much do you think it will cost GRS is committed to helping our readers save and achieve their financial goals. Savings interest rates may be low, but that is all the more reason to shop for the best rate. Find the highest savings interest rates and CD rates from Synchrony Bank. Ally Bank. Dan banyak lagi. I spend about 50-75 dollars to buy Turbo Tax. I used to have a tax person do our taxes and every year we had to pay, pay, pay to the IRS and the tax person, who usually got around 5-600 for 1040 ez. All she did was punch numbers into a computer. So I finally asked our work accountant if there was something else I could do, she said she used Turbo Tax herself and just walk your way through it. The first year I was scared to death, just knew the IRS was going to hit us with a fine or something. But now I don8217t worry about it, I figure the little tax audit thing at the end should be good enough and if I was audited for a turbo tax mistake, well I have the paper work to back up my numbers. So the last 7 years we have done Turbo Tax, I get the one where you get one state and 5 e-files as I do my kids taxes also. You have to watch which one you buy, we usually get deluxe but have used premier for when we sold land and our house and had our house up for rent. But since using Turbo Tax we have got a refund, not anything big, but enough to cover the cost of buying Turbo Tax and a nice dinner to celebrate yet again another year of getting that headache out of the way. Until we get something like a business, I probably won8217t go back to a tax person. And we have retirement accounts, married, homes, 10998217s, expenses, renewable energy credits and income. We do it all on Turbo Tax. And tax people and accountants are not the same thing. I can prepare an e-file, but I can8217t tell you what to do to save on taxes, represent you with the IRS and I do not have years of schooling. So paying for an accountant is like paying for a lawyer, they are trained and have years of knowledge that I as a turbo tax person would never have. You get your moneys worth from an accountant. Did at home for 1,000 dollar returns, now my husband hired tax specialist who gets us 8-9 grand back every year. She includes things like mileage to and from Doctor, prescriptions, his union dues, work boots, gas to and from work for him. My question is, will this big return put a target on our head Should I be worried about our preparer Seems professional. Charges us 473 dollars for that big return though. I just want to know if this sounds fishy. I8217ve begun keeping excellent records. Thank you for your consideration and help. Denise I8217m no expert on deductions, and it is impossible to make a definitive judgment without being up on all the details, but I will say that for one thing, deducting commuting expenses sounds dicey. I do want to point out a few things that might shed some light on your situation: 1. The IRS web site, irs. gov. is very helpful, so you might want to visit it just to check out the type of deductions you are taking. In particular, IRS Publication 529 deals with miscellaneous deductions in detail. 2. If your accountant is independent rather than a member of a large organization, he may be cheaper but this also means he has less resources at his disposal, and is not representing a company with a well-known reputation on the line. 3. If you are consistently getting large tax refunds, it may a sign that you are having too much deducted from your pay in the first place. Semoga bisa membantu. Quite the opposite is true. Larger firms don8217t have any more resources than a smaller firm. Its available to everyone. Also the smaller firms are able to give more attention to the client versus the Bigger firms where you might just be another number. By the sounds of it you8217ve been paying too much in taxes for year. Are you afraid of the IRS That8217s a shame. Semoga berhasil. We also made a post to our Facebook page with the link to the IRS. gov Directory of Federal Tax Return Preparers with Credentials and Select Qualifications. Here it is for your convenience in case it8217s helpful to you: irs. treasury. govrporpo. jsf Linda Vergon Editor of GetRichSlowly. org Married last year and am confused about taxes. Trying to decide between filing joint or marriedseparate. I8217m salaried (State employee) and my husband is a self-employed musician. Inow we have a home so will be claiming mortgage interest, etc. but no complicated investment incomecontributions or anything like that. He doesn8217t have any funky itemization (home office, depreciation on equipment, etc.). His is just as straightforward 8211 basically reporting his under 11Kyear income and paying the approximate 15 self-employment tax rate. Playing around with online tax estimate sites, I figured if we file separately ourhis liability is 1200 and my return would be under 200. If we file joint, our combined liability is 600 or so. Obviously our 8220home8221 saves filing jointly but I don8217t know what form(s) I8217d use. Any suggestions Could we both use the 1040 itemized if filing jointly even if he8217s self-employed The idea of filing jointly is still weird to me 8211 I mean, I still wash our clothes separately LOL. Hey Cathy 8211 I can8217t give you a definitive answer because each tax situation comes down to the specific details, but I do know that it is possible to file a 1040 jointly but have your husband attach a Schedule SE to report his individual self-employment income and expenses. Beyond that, it sounds like you are doing the right thing 8211 using online tools to try it both ways, and see which gives you the most favorable results. 2015 taxes 8212 I just did them with Turbo Tax and it was 94. I went without the additional audit support they offered for like 40 figuring if, in the unlikely case that something bad were to happen, I would likely get a real lawyer. My situation is very complicated, head of household, a young child, with a bunch (4) rental properties. I am using TurboTax Home and Business since it came out and I never had any problems with it. I always takes me under an hour to complete the return. But so far all my tax situations were completely covered by the software. Kristi Femme Frugality Historically, I used TurboTax but two years ago I switched to HampR Block software after the whole deluxepremier bait and switch (I have rental property). I just did my taxes and am a bit shocked. I got married last year and now, my (our) tax liability ended up being significantly higher (several thousand dollars), even though our combined income was lower than last year. We8217re not high earners. I have done our taxes for the last decade so I have comparisons of before and after marriage. Now, I8217m seeking a CPA because there has to be a better outcome, other than divorce. So just to know I didn8217t miss something, and if this indeed is my destiny, I will have peace of mind. In Australia i just paid over 346 for my tax, which is personal income and a small business and a house8230 my new accountant said i was getting ripped off My Factoring Network Taxes for sure involves cost. Nice post to be more knowledgeable about taxes. Terima kasih telah berbagi. I did my taxes yesterday with HampR Block. 2015 has new guidelines and regulations. I know for a fact HampR Block8217s minimum fee is 90. Since I had a coupon, I ended up paying 70. Not too bad. Is 1000-1500 a year too much for a retiree to pay a CPA each year for a return that involves a rental property in another state, five IRAs, along with two dozen mutual fund investments that generate dividend income and cap gains plus small losses occasionally on a few of those investments each year Hello I always file my tax by my self because it gives me a security that IRS already received it. I also used fillable tax forms and here8217s the link goo. glkNI4J6 you might want to check it out. I am using this site for 2years now and it is really great Personal Tax Service on Staten Island charged my wife and I 300. This is the last time getting taxes done there. We didn8217t even get a decent refund, and we own a home. They suck. D, you might see if there is another independent tax pro in your area who will look at your return to see if there8217s anything your preparer missed. I8217ve done that here for clients, and about half the time there8217s nothing else there, and another 25 there8217s a minor difference that isn8217t worth worrying about (i. e. filing the amended return would cost more than the extra refund). Honestly, your tax specialist is only worth what you think he or she is worth to you. I spend countless hours with clients helping them to get their paperwork together or store it during the year for them. Paperwork that usually nets them a great deal of deductions that they otherwise would not think to take. Tax Reps in franchise offices come and go so frequently, it is difficult for them to get to know their client8217s tax situations. I have history with my clients and they trust me to take care of them, but my time is also very valuable. You don8217t really know what deductions you are missing when you DIY there are few Youtube videos from news stations with comparisons using different preparers and software like TurboTax. The DIY approach ended up with the refund 800 less than the true refund due the tax payer. If you decide to go the DIY route, it makes sense to have someone look them over every three years 8211 you can still file amended returns then. After three years 8211 congratulations, the IRS keeps your money. Anyone who does their own taxes on these 8220FREE8221 websites are doing nothing more than costing themselves money and the IRS loves it. Why do you think the IRS puts those free web sites on there of the people to use. because they know that you will try to do your own taxes and THEY will have a lot more of your money in the end. Believe me NOTHING is free. Go find yourself a good professional tax Preparer and SAVE yourself time and money. Its not worth trying to do it yourself. I think it is important to understand your tax return, as you can make decisions all year that affect it. I got so interested that I became an EA (Enrolled Agent) several years ago. Often, when I have a new client, I find things that they missed previously, saving them significant money each year. It can pay to go to an EA since we8217re required to take continuing education in taxes each year. I have volunteered with VITA and recommend them. Volunteers must pass a basic exam each year. And, just a quick point that the article contains a small error 8211 an unenrolled tax preparer can represent a taxpayer before the IRS if they prepared that return. Otherwise, you must use an EA, CPA or attorney. I paid 390 to HampR Block. Total rip off as we are considered a simple file. I will never use them or recommend them. I wasn8217t told the fee until after it was filed. I will do my own as revenge. An important alternative to note is the IRS sponsored Volunteer Income Tax Assistance program (irs. govindividualsarticle0. id219171,00.html). VITA volunteers prepare state and federal tax returns for free (up to 49K AGI), and provide many other services. For instance, the program I volunteer for has an IRS representative on site to assist with payment plans and other inquiries. Community banks reps are on hand to open checking accounts to facilitate direct deposit, and we also offer free credit score check and counseling on improving a bad credit history. The programs are community based, and our mission is primarily to insure that every legitimate dollar of a tax refund is put back into the hands of taxpayers, where it can benefit them and their communities. Annually, we process millions in refunds. the program is widely available. For instance, the IRS lists 85 locations in my state of Massachusetts. No list of filing alternatives, I feel, would be complete without a prominent mention of this program. Edwin Save The Bills I8217ve always done my taxes at eSmartTax and only paid 20 total (free federal efile and 20 state efile). This year though they changed everything around and started charging me extra for having a house (form 1098) and a sole proprietorship (schedule c). It ended up costing me 50 The comprehensive services you provide raise a good point, and one we try to touch on in the article 8212 the low bid isn8217t always the best deal. As long as you are providing quality, you shouldn8217t worry too much about competing on price. There will always be someone out there willing to quote a lower price, but matching quality and thoroughness are much harder for competitors to keep up with. Thanks, Kevin. Especially when he8217s been doing my taxes for more than 20 years (before I retired). He should have the process down to a science. Terimakasih atas infonya. I knew something didn8217t feel right. marlene 8211 I8217ve heard of charging per schedule, but not actually seen it in practice. Most CPAs charge by the hour, which I also hate. I try to price my services up front so both parties know what the expectations are. I think Dally has a good comment 8211 CPAs are usually much more than just tax preparers. For example, one of my customers this year had a lot of questions about elder care planning for her in-laws. We talked for awhile and I referred her to a good attorney I know. It8217s about the relationship and having someone there to call and depend on. I also like to follow up with my customers later in the year to see if anything has changed or if they have any questions before it is too late to react. I moved from California to Alabama 15 years ago. I have a home business (notary) and a residential rental property in California. I have been using my California CPA who charges per schedule. I have paid 1000 each time. Somehow it started to feel really costly (ya think). This year I finally changed to a tax preparer here in Alabama. Cost8230200. Is charging per schedule usual. Each schedule cost approx. 100. Charging that much per schedule is overboard but, I sure hope your tax rep in Alabama is a competent rep. California has a lot of generous tax deductions of which a tax professional from another state may not be totally aware. I8217ve been using TaxAct since 2005. I have a bunch of Schedule C8217s and I itemize, so I need to do the full 1040, but as Paris52 said, I paid under 20 total, including filing for the state. When I have major changes, I contact a family friend who does my parents8217 taxes to verify that I8217m making the right adjustments. He did our taxes the years that I got married and had our first baby, but I8217ve been able to handle it since then. I have used TaxACT for my taxes ever since I moved back to the US (as of three years ago, none of the free versions of e-file could handle overseas filing). I have no complaints about the software, although figuring out taxes is an unavoidably fiddly business. I like e-file better than fussing around with paperwork and my state and fed filing cost less than 20 (maybe 17). At the moment I8217m a W-2 slave so my taxes are easy, but I am thinking about starting a business and I think that would tip me over to hiring a professional CPA. I also have a friend who had a major tax foul-up courtesy of HampR Block. I would never use them. Dally What about filing form 8891 for Canadian RRSP accounts I think my accountant charged per form. I am astonished at the quoted prices for CPAs. I8217m a CPA and I think I8217m at rock-bottom with a minimum of 125. My hourly rate is 150hour plus a small forms charge (5 per return). I can be cheaper than HampR Block for clients who are organized. I only take a few new clients each year and so most of my clients are people I know well and have trained through the years. I consider myself their 8220personal financial wellness advisor8221 and we meet in person and I go over all aspects of their finances. How much they8217re spending on expense ratios in their mutual funds. Whether they8217ve got disability insurance. The best place to save for college (the parent8217s Roth IRA) Most of my clients will get charged between 200 and 300 dollars. I typically save them at least that much each year. It8217s sort of a point of pride to me to always be thinking of ways to save them money. (Note that I8217m a regular reader of this blog.) My income was pretty low last year due to getting hurt at work. If your income doesn8217t pass a certain AGI threshold then you can file for free at online tax places like Turbo Tax Freedom Edition. I think the AGI limit is 31k or so. In several states you also will be able to file state for free through the program. I saw last year there were other reputable places offering the same thing. The price comparisons can be misleading between online tax software. For instance, both Turbo Tax and Tax Act offer free versions. However, Turbo Tax8217s free version only really applies to a simple 1040 or E. Z. With Turbo Tax, if you have any investment income or itemized deductions apply you are going to pay significantly more. Turbo Tax charges you extra when the tax return is more complicated. Further, it charges you extra for State filings. I used to pay about Sixty Dollars for Turbo Tax. With Tax Act the most you pay is 17.95 including with a State Return. Further, with Tax Act you can file a complicated federal return for free. One year I completed my taxes with Tax Act, Turbo Tax, and Tax Cut. I ultimately filed with Tax Act because the software did the job, and it was significantly less in cost. It also completed the FASA form for students seeking financial aid. In Canada your accounting fees MAY be tax deductible in the year you pay them. If you have any kind of investment or business or rental income they are certainly deductible. The most I have EVER charged for preparing a personal tax return was 1,000 but you should have seen the mess it was in I actually cut the guy a deal, because it took over 15 HOURS to prepare his taxes, and I could have easily billed him twice that. It pays to be organized when using a professional preparer. You can save a lot of money just by giving them(us) information in the format we can use it in. That stack of gas receipts you want to claim for your business use of your car. If you add them up it might take you an hour. If I add them up it might take me half an hour8230 and cost you 75. Is that worth more or less than an hour of your time This is a hugely helpful post One of my challenges when shopping for services is that it8217s hard to know what ballpark the prices should be in until you8217ve done it a few times. Now I just need to find similar information for legal services I used OnePriceTaxes for 2009 and it was a dreadful mistake. The software neglected to include my 1099-MISC forms even though I filled them out. It has no audit function, so you are pretty much on your own to get things right. The help was almost nonexistent so that the experience was akin to just filling out the forms I knew were needed. Also, there was no review function and the print function failed, just couldn8217t print, so I had to file with no way to review my return. Once filed I was able to print, but then it was too late. Never again I went back to TaxCut and had to use it to generate a corrected return. BTW, while I cannot be sure this is true for the 2010 tax year, the 2009 OnePriceTaxes software was just a framework built around their online system. You had to be online for it to work. Tyler My tax guy is also in a different state than I am, but he emails me pages to sign and then I scan and email the signed copies back to him. I would far recommend that over mailing I paid someone to do my 2010 taxes and I will re-evaluate if the cost is worth it for 2011, but it certainly gave me peace of mind for 2010 with income and retirement accounts in multiple countries, residency changing, dividends, interest, and investment sales. Plus, the cost for him to do my taxes was a little more than one day8217s salary, which I would have almost spent doing them myself anyways and my time is worth something to me. I don8217t know when I would have found that much time to do my taxes. It was mostly complicated due to the residency changing, so I think it might be simpler next year and I will be able to do it myself. We8217ll see. One other point when you use an outside professional. Make sure that the CPA has liability insurance as protection in case of fraud or incompetence. I prefer to have my CPA8217s have an office (home or business, it doesn8217t matter) where they have been for a while and I get a great deal of comfort seeing their various diplomas and certifications tacked on the wall. You get what you pay for when it comes to tax preparers which is why it freaks me out that people are willing to give all their personal info to a guy who picks it up and delivers it for only 95. Identity theft, anyone Richard 28 8211 thanks for responding. I was just at my HR department today to change my address and file a VA-4 form, so I know that starting with my April 1st paycheck I should have state taxes withheld and remitted to Virginia instead of Maryland. I used to have my dad do my taxes every year but I moved overseas for about 14 months and ended up with foreign income statements, foreign tax credits, RRSP homebuyer repayments, etc. My dad told me I had to get an accountant and it was worth the money 8211 if for nothing else than having someone know how the complexities of the varying tax years was going to work out. I might go back to my dad now that my taxes are going to be 8220normal8221 again but may start using UFile or some other online system. I just couldn8217t do it with all the complications in my taxes for the past 2 years. 400 I paid last year and again this year are worth it to know there shouldn8217t be too many surprises. I use a CPA because our taxes are a bit complicated. He always catches things we missed, too. I get the info together so I have to have a pretty good understanding of the tax code. But he does the dirty work and gets the numbers right. And now that I moved from TN to NC I have state income tax to prepare. It8217s just a headache I8217d rather not deal with and money well spent on a CPA. If you go with an individual or even a local firm you will at least have someone you can bounce questions off of throughout the year. It8217s a perk. Our taxes were so very complicated last year8230 that by the time we8217d collected everything we needed to bring to a tax professional, had read up and made sure we understood the laws, had talked to the CPA in the family and the retired person in our family who does volunteer taxes8230 and had gotten luke-warm recommendations from everybody we knew for accountants8230 (the best recommendation being to ship all of our tax info half the country away)8230 that we ended up just doing the taxes ourselves with the family CPA8217s blessing and TurboTax (though not the base version). He said he didn8217t think that any tax preparer that we could find would do a better job. Right now I8217m educating myself on cost-basis calculations when the companies spinoff and merge (I know the bottom-line answer, but they want a cost-basis number), and on how exactly to get the right tax numbers on that Roth conversion that seemed like such a good idea at the time. Next year our taxes should be back to normal, which will be a big relief (unless I decide to sell the AOL single stock and its time warner former affiliates). I8217d totally be willing to pay someone if I had someone I could trust. But I8217ve heard so many stories about accountants messing up that it really does seem easier to do it ourselves with software. That and just collecting the necessary documents is most of the work. It8217s worth it to do your own taxes, by hand or through something like Turbotax, at least once. I know someone who8217s dropped off her taxes at HampR Block year after year, and has obviously never looked at her return8211because I discovered HampR was doing them completely wrong. Wrong filing status, not claiming EIC even though she was eligible8211in short, leaving about 7K on the table. Every year. She never noticed because she didn8217t know enough about taxes to be able to spot the errors. Just another example of why self-sufficiency is usually in your best financial interest8230 Self-employed and work at home, so I have had a friend of my brother8217s do it for the past 10 years. He is a CPA. He charges 92.00 for federal and state (at least for the past - 5 years that has been his rate). I think he is well worth it for my peace of mind knowing I haven8217t missed something. Unfortunately the tax code is so complex that a lot of people believe they8217ve correctly done their taxes and haven8217t and just slip through the cracks. Often the errors are in the governments favor. Nobody has a duty to pay more taxes than they owe. I8217ve seen a lot of people grossly overpaying for no reason to save a few dollars on the preparation. If you have a relatively complicated return, including a business, rental property, etc. this may be penny wise and pound foolish. I have used the same CPA for over 20 years, and the peace of mind is worth every penny. It is not cheap (just under 400 this year)but he always finds things that I would never think of. My grandmother left a fairly complicated estate in 1997 and he has always helped with that and other inheritances that have come along. Dan: I mis-reported the cost basis for some stock I sold (actually, I think I failed to report it at all, and so the IRS assumed 0). I got my tax guy to fix the problem, and after amending my tax return, I actually ended up with a 9 refund after that. That was after I paid 3,000 though. This year, instead of having a 3,000 tax bill and then making a mistake that resulted in a 9,000 scare and a big headache, I just paid the tax guy to do it all for me from the beginning, and I have a total tax bill of about 250, when I was expecting I8217d be paying another 3,000 or so. My tax guy is easily worth his 250 fee. When I started freelancing about 11 years ago, I hired a CPA to do our taxes because I wanted to make sure I did all the self employment stuff correctly. Our taxes are also a little complicated by the fact that my husband owns 14 of a house that he inherited (along with some other relatives) in another state. We have had other oddball things pop up in the past few years too (investment losses, IRA conversion to a Roth that then had to be recharacterized and then converted again this year). Honestly, it pains me every year to write the CPA an ever increasing check (360 this year)but I very much like that I really just gather up information and send it to him in one big envelope and then he does the rest. I also have a little more peace of mind because the house in the other state does cause me some concern from a tax and record keeping standpoint. If it ever gets sold and out of our lives then I probably won8217t be as willing to pay someone else to do taxes. I used TurboTax for the last few years, as most of my returns have been simple. This year I did my taxes by hand for the first time, because I sold stock this year and TurboTax wanted too much money to deal with that complexity. I used the IRS online tool (FreeFileFillableForms) to e-file my returns. It was tricky, and my submission was rejected the first time, but I fixed my mistake and submitted again. Second time8217s the charm I just use TurboTax. I8217ve noticed that Jackson Hewitt and HampR Block are heavily represented in somewhat rundown neighborhoods. I have a relative whose taxes were completely messed up by HampR Block and he ended up owing thousands in penalties. I don8217t know if they8217re all like that, but my opinion of them is not very high. HR Block and JackHewitt are equivalent to fast food chains. If you want better service go to a nonchain tax preparer8217s office. You will pay less and get more service and he will be there year round. Most of the cost of paid preparation lies in the processing cost of untangling the taxpayer8217s bookkeeping errors, and hand sorting through many volumes of data to find the handful of it that8217s relevant, FWIW. You forgot to mention the free tax preparation service offered by the IRS. I have been working with VITA (Voluntary Income Tax Assistance) for three years now, and I am always surprised how few people are aware of this service. The VITA program has so may things going for it: free, obviously partial to the taxpayer, since they don8217t profit from the service longevity, since the services, and many of the IRS-trained volunteers serve year after year, as you and I have done benefit to the community, since refunds flow back to the local economy undiminished by the usurious fees often charged by storefront preparers whose profits go to corporate coffers. Additionally, these centers offer benefits in other ways by promoting financial literacy and establishing networks of community support involve. Win-win Taxact does not charge to e file a state return. Federal Free plus 14.95 for state, both e file for free. Or use the deluxe version 17.95 for both state and federal plus free e file for both. I usually use taxact every year to file my wife and I taxes as well as my four children8217s taxes. I have never paid extra to e file state taxes. I did my own taxes this year using the online version of TurboTax. I think it cost me 112 dollars including both my federal and state return. I have rental properties and a few other complicated situations and I found this product more than adequate to handle those items. I think that if it all possible, people should attempt to do their own taxes (even using software or an online product). You learn a lot about the tax code, and about ways to optimize your tax situation for the following years. A amp S DeMendoza We are in your situation and always talk about trying to do it ourselves. We have gone to the same tax preparation fellow for years. We pay 435 each year and always feel it is way too much. 8220There must be another way8221 Ty for sharing8230.. I was paying 195.00 to have my axes copleted by a CPA. I thought that was too much money to spend when all he did was just enter my information into his software on his computer. I now pay 65.00 to a book keeper with the same software program and she found my extra savings. Owen Cheaper isn8217t always better. If you use turbo tax and have a return that is somewhat or very complicated you should know you probably missed something a human would pick up on and left hundreds or thousands of dollars behind that you could have gotten back by going to a professional. The programs do miss things every year because they cannot think and are not able to pick up on scenarios as humans are. The IRS would want everyone to use a computer program or do it themselves because they would save paying back millions of dollars every year. Your web browser is not running JavaScript. JavaScript is required to view the Walmart Canada website. Please enable JavaScript in your browser or switch to a newer web browser. Votre navigateur Web nx27utilise pas JavaScript. JavaScript est requis pour consulter le site Web de Walmart Canada. Veuillez activer JavaScript dans votre navigateur ou utiliser un navigateur Web plus rcent . Your web browser is not accepting cookies. 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