MetaChat - Taxing work

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28 March 2007

Taxing work I'm just about finished doing my tax return. →[More:]I fired off an email to a friend of mine who is a lawyer and Senior Tax Writer for a legal publishing company I used to work for to ask him about a deduction I hope I can make, but I bet the answer will be no. So it's probably all over but the printing out and Net filing. And I'm happy to be getting a good chunk back. Last year I had done some freelance work and by the time that got taxed my return wasn't enough to pay for the software I had bought to do the return. Ow.

post by: Orange Swan at: 21:38 | 6 comments

I'm just about finished thinking about doing my tax return. Hooray for automatic two-month overseas extension!

posted by grouse 28 March | 22:02

Also, the lower your refund is the better. If you have a high refund it really just means you have been loaning the money to the government rent-free for months.

posted by grouse 28 March | 22:03

I timed out on my ufile return.... I got two T4A's in the mail.

Hold me, please. I'm scared.

posted by porpoise 28 March | 23:39

If you have a high refund it really just means you have been loaning the money to the government rent-free for months.

Not exactly. Payroll deductions aren't adjusted to reflect so many of the things you can write off (i.e., tuition, charitable donations, extra RRSPs, medical and dental expenses, metropasses). So if two people in the same situation making the same money get very different amounts in their tax returns.... it could mean the one person isn't doing their taxes properly.

posted by Orange Swan 29 March | 07:00

If you know that you're going to have a significant amount of deductions, why not increase the exemptions on your w4 to reduce your payroll withholdings?

posted by mullacc 29 March | 07:30

Yeah, just fill out a new W-4 and increase the amount of estimated deductions/credits/adjustments.

posted by grouse 29 March | 07:49

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