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Getting to Know You, February 2021


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6 hours ago, TaleSpinner said:

Wednesday, February 17: How early do you submit your Taxes*; if you are not in the US, how does your country handle the collection of income taxes (or do they even have them)?

 

* In the US Tax deadline is April 15, but we can submit as early as January.

We are scheduled to have ours done next week.

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7 hours ago, TaleSpinner said:

Wednesday, February 17: How early do you submit your Taxes*; if you are not in the US, how does your country handle the collection of income taxes (or do they even have them)?

 

* In the US Tax deadline is April 15, but we can submit as early as January.

Ours is nominally open 1 July and closes end of September, end of January if you use an accountant

I normally get mine done late July/Early August, gives the online systems a chance to settle down (lots of people submit within the first two weeks of July, meaning their refunds usually take a few weeks to process, if I wait until end of July mine is usually processed within a week). I used to do it in this time period due to waiting on documents, but these days most of my stuff is prefilled so I could do it earlier if I wanted to (personal business and work-related deductions, including Work From Home expenses, I need to apply, if I didn't have any of those then mine would be much quicker)

Our system is set up so that employers withhold expected tax from your paycheck, but then you do your return at the end of the Financial Year to get any excess back...or pay up if you have additional income. The withholding is based purely on tax rates, so as soon as you have deductibles it's wrong.

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7 hours ago, TaleSpinner said:

Wednesday, February 17: How early do you submit your Taxes*; if you are not in the US, how does your country handle the collection of income taxes (or do they even have them)?

 

* In the US Tax deadline is April 15, but we can submit as early as January.

I'll be doing mine this weekend. I usually get them done in the middle of February.

Doesn't mean I send them in then... greatly depends on whether or not I need to pay!

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12 hours ago, TaleSpinner said:

Wednesday, February 17: How early do you submit your Taxes*; if you are not in the US, how does your country handle the collection of income taxes (or do they even have them)?

 

* In the US Tax deadline is April 15, but we can submit as early as January.

 

I have been having mine done the first week in February the last four or so years. 

SO it has been e-filed & accepted by Infernal Revenue. I should have my refund in two or three weeks...or not.

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12 hours ago, TaleSpinner said:

Wednesday, February 17: How early do you submit your Taxes*; if you are not in the US, how does your country handle the collection of income taxes (or do they even have them)?

 

* In the US Tax deadline is April 15, but we can submit as early as January.

 

11 hours ago, Jasper_the_2nd said:

Ours are around the same timeframe (April 30th deadline, apparently).  We don't get a bunch of papers until March (March first is the deadline for RRSP contributions and some other stuff) and usually try to get them filed around the end of  March.

 

8 hours ago, WhiteWulfe said:

Typically I'll start putting basic info in once the software updates with any changes, re-enter info if need be once I get my T4 (paystub), and then I'm waiting on my RRSP contribution slips from a few places.   Oh yeah, this year I'll wind up waiting on some T4RSP forms as well as a T5 (or whatever the EI payments received one is called).

 

We have until April 30th, but I prefer to file as early as possible because of a few reasons, but the biggest is we always have a refund, typically a decent sized one due to RRSP contributions as well as the fact only one of us works. 

 

I'd consider an accountant's services, but here in Canada our taxes are simple enough for us its easier (and cheaper) to do them ourselves.  Now, if we had something that can complicate things, like say regular medical expenses or a child, yeah, an accountant is definitely handy for all the extra stuff you have to fill out.. 

Like my fellow Canadians and the weird way we can contribute to our RRSPs (Registered Retirement Savings Plan) in two waves (one ending in December and one ending the following February yet still counts as the previous year). So some of us have to wait for the final receipts to arrive in March.

 

Once I get all them, I usually file them somewhere in April before the deadline, often during Easter weekend because of the extra day off.

 

Since my income, investments and expenses are relatively simple and few in number, I can file them online without an accountant. For a while, I went with paid version of Turbotax or whatever was popular. Now I use the free ones available that are NETFILE compatible. They're mostly equivalent for my needs. Were I a business owner, I'd seek qualified accountants to navigate it all.

 

Though none of it is particularly difficult with the amount of online guides around, I still find it tedious and boring. I am not made for financial work.

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16 hours ago, TaleSpinner said:

Wednesday, February 17: How early do you submit your Taxes*; if you are not in the US, how does your country handle the collection of income taxes (or do they even have them)?

 

* In the US Tax deadline is April 15, but we can submit as early as January.

My husband is an Accountant, so I just give him the data and it gets done.... and I stay out of his way... so its usually done once we have all the paperwork, sometimes it takes a while to get everything.

 

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5 hours ago, Cranky Dog said:

Like my fellow Canadians and the weird way we can contribute to our RRSPs (Registered Retirement Savings Plan) in two waves (one ending in December and one ending the following February yet still counts as the previous year). So some of us have to wait for the final receipts to arrive in March.

What's annoying to me is that SunLife gets me my slips in mid-January (for the Mar-Dec period) and then for the other two months I have them typically by the 5th...  Weathsimple on the other hand, tends to drag their feet until mid-March... 

 

Weird how the slow acting, higher fee one that work provides has their act in gear when it comes to paperwork, while the other one which generally moves quickly with their regular day to day stuff takes a while...  So glad though that Wealthsimple Trade is finally on desktop as a beta, it's so much nicer to use a 27" screen and a keyboard! 

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21 hours ago, TaleSpinner said:

Wednesday, February 17: How early do you submit your Taxes*; if you are not in the US, how does your country handle the collection of income taxes (or do they even have them)?

 

* In the US Tax deadline is April 15, but we can submit as early as January.

I do them as soon as I have all the documents I need. For some reason Walmart is dragging their feet on sending my husband’s W2 (yes I know they’re legally required to send them by Jan 31, but they’re also required to do a bunch of other stuff they don’t do).

 

I like to file as soon as possible because my cute little monster gets me a $2k refund, which I plan on spending on furniture.

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On 2/16/2021 at 2:22 PM, TaleSpinner said:

Tuesday, February 16: What colloquialism, saying, or word(s) do you use that gets you funny looks when you travel?

 

Well, you not might have noticed, but I'm Scottish :ph34r: Which means that people think that the way that I speak is either a. adorable and quaint or b. utterly incomprehensible. To make things even better, my lowlands westcoast accent shifts to my islander accent when I go back home. I had just been back to my home island last time I was in North America and I had a really hard time being understood. I even got mistaken for being Scandinavian at one point :blink:

 

I'm pretty sure that I have a bunch of sayings that would cause a fair bit of confusion, but that would require people actually understanding me in the first place!

 

On 2/17/2021 at 1:21 AM, ManvsMini said:

 

Margot Robbie had a good Australian one: "We're not here to elf spiders", meaning "Well, let's get on with it then."

 

 

So THAT'S where drow come from!

 

22 hours ago, TaleSpinner said:

Wednesday, February 17: How early do you submit your Taxes*; if you are not in the US, how does your country handle the collection of income taxes (or do they even have them)?

 

* In the US Tax deadline is April 15, but we can submit as early as January.

 

As @aku-chan says, our taxes and national insurance are taken from our wages before we even get it. It's different if you're self employed or own a business, but most of us don't even see the tax money. I'm perfectly happy with this, you can't miss what you don't get after all. Anything else that I could say about the system could get me Modded, so I'll not elaborate further.

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56 minutes ago, TaleSpinner said:

Thursday, February 18: You have to sing karaoke, what song do you pick?

 

Whitney Houston - I Will Always Love You

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1 hour ago, TaleSpinner said:

Thursday, February 18: You have to sing karaoke, what song do you pick?

"Red is the Rose", it is a Folk song with the tune of "Banks of Loch Loman" (I'll take the high road and you take the low and I'll be in Scotland before ye) if I'm romantic or "Johnny McAdoo" if not.

33 minutes ago, Werkrobotwerk said:

Never going to happen. 

What are the lyrics?

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