Short Rant about Gov Stupidity

[Small Lady]

I do my own.
I do quarterly GST submissions for my trucking company myself to, and all its paperwork. It's only 1 truck, 1 driver, and not like I own a fleet. After all the expenses, it doesn't make a lot of money either.
I enjoy business stuff, and don't want to have to hire an accountant if at all possible. That also just adds another expense. Yes, I am a sole proprietorship, not an corporation. It isn't like I'm pulling in $20,000,000 annually, so not sure why they seem so focused on me lately. Following the laws, and just a regular person, not making a fortune, so they should just leave me alone, and focus on someone who is not paying taxes, or breaking the law.

 

[shaughn]

An issue that has come up is they are comparing IFTA, Carbon tax and GST on the trucking side and comparing it to claimed expenses versus companies operations of similar size.

On the Tax side ..you don't need a CPA...but you can look for a experienced tax preparer who has familiarity with multi stream income sole proprietorship business, they can find you ways to optimize your filing and help you expense away or eat up your total income and keep your money instead of giving it to the government.

We have a contracted sole proprietor or two that work for us in the trucking company who do well and as far as taxes are concerned break even, because the Tax preparer knows how to use the Tax rules.

Just something to consider.

 

[Small Lady]

An issue that has come up is they are comparing IFTA, Carbon tax and GST on the trucking side and comparing it to claimed expenses versus companies operations of similar size.

On the Tax side ..you don't need a CPA...but you can look for a experienced tax preparer who has familiarity with multi stream income sole proprietorship business, they can find you ways to optimize your filing and help you expense away or eat up your total income and keep your money instead of giving it to the government.

We have a contracted sole proprietor or two that work for us in the trucking company who do well and as far as taxes are concerned break even, because the Tax preparer knows how to use the Tax rules.

Just something to consider.

Thank you!

 

[bdlesh]

If anyone thinks the by any mean that the government is capable.....please explain $33 trillion of debt?

 

[adam32+P]

But I thought Canada was all sunshine and unicorns?

 

[shaughn]

Our taxman actually smiles at us while he takes our cows and chickens

 

[del2les]

"Short rant about government stupidity"?

I could write an entire set of encyclopedias on the topic. ( For those old enough to remember what those were and the door-to-door salesmen of such)

A few years ago, I began receiving letters from the IRS concerning a credit card I never owned and from over tens years prior. It seems the card had gone into default with about $7,000 owed, and since the card company had recently written it off their books, I was on the hook for about $2,400 in income tax.

I spoke with the IRS and was told not to pay the bill, and they sent me a letter stating an investigation had been opened and I was to do nothing. Then a month later, I received another letter claiming I had not paid the first letter and was now being charged high penalties and interest.

So, I called again, and I was told the same as before and was sent another letter stating such. Then you guessed it, a month later, I received another letter stating I now owed even more in interests and penalties. I explained I had received two letters stating I should do nothing pending investigation, and the agent requested I send those letters to his department for review.

About six months passed, and by now, I was thinking they had discovered either an error or a case of ID theft. But to my surprise, I received another letter stating since I had not paid, my house and bank account was now going under an IRS lien until the initial amount plus several months of penalties and interests were paid. It was completely infuriating, and to a avoid the black mark on my credit rating and report, which my employer pulled annually, I gave up and paid.

To this day, I have no idea who opened that card with my name and SS#, and all LEO could, or wanted, to discover was a PO Box about 250 miles away that the card was sent to. So much time had passed, they just weren't interested in spending man hours.

 

[Darryle]

But I thought Canada was all sunshine and unicorns?

I don't know about now, but I fell out of a tree stand and they fixed my busted arm for free, but that was 1986. I also bought a soft top Jeep from the ER Dr and drove it home. It took me a solid 8 months to get a title for that pile. It would have been better if I had actually frozen driving that thing back to Texas in the dead of winter.

I know that in the early 2000s I traveled extensively to our sister company in Mirabel and they sent me tax forms to pay taxes on the income I earned while there.

It took a good CPA to fix that cluster.