Sunday morning

Apr 15, 2007 29 Replies

Katherine spun a FINE 'yarn':

Katherine. . . I understand the unhappy camper. Don't hate me, but..... We were going to owe $800+ when I did them one way, and ended up NOT owing when I did them another. WHich way do you suppose I sent it? I HATE doing taxes, I really do, BUT, in our case, doing them myself saves us the accountant charging us $200 to do 'em. Noreen commisserating with you, dear friend....

Oh, ouch! And I've been whining because I have to pay $355. But I knew it was coming, and I know what to do about it for next year. DH is getting around $1600 back, due in no small part to his RRSP contributions. And, guess what? I know many places where that $1600 can go (grin).

Shelagh

Income tax? I wouldn't mind having the income to pay 2k taxes on ... my income means that I pay no income tax.

Mary

Darling, I don't hate you. I am envious, but I am always happy when others benefit.

Higs, Katherine (who has written the cheque, despite her pain. )

Indeed! You could send it to me to help pay my tax bill.

Higs, Katherine

Sadly, I don't have the income to pay those taxes. There was not enough deducted at the source, so I ended up getting shafted this year. And I probably will again next year, too. Sigh! This is the first year I have ever had to pay in. I have always gotten a refund well over 2k, so you can imagine how I feel this month. Oh, well, I will survive.

Higs, Katherine

Katherine - there is something you can do about it. Revenue Canada has a form you fill out and give to whomever pays you/deducts your taxes. On that form, you fill in the additional amount you want deducted and voila, it's taken care of. I have to do it because I'm getting pensions from two sources and neither source takes enough off.

Here's a link to the form on the CRA website. Go to page 2 where it says "additional tax to be deducted".

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can print off the form, fill it in, sign it, hand it in, and hopefullyhave no problem next year. ;>)Shelagh

deducted".

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You can print off the form, fill it in, sign it, hand it in, and hopefully> have no problem next year. ;>)And that would be fine, except for the fact that I really can't affordto have any more taken off right now. I'll just have to bite the bullet and pay this year, and hope NOT to have to pay next year. Actually, my pension source sent me a form to do just that this year, but I opted not to right now. Being a full-time student, plus supporting hubby at home in Labrador is costly! However, it will be worth it eventually.

Higs, Katherine

Not withholding enough from pensions seems to be common here, too. Rather than have more withheld, I make quarterly estimated tax payments.

I'm just as happy to let them do all the work (snicker). In the unlikely event they've withheld too much, I'll get it back.

Shelagh

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