This doesn’t mean you don’t have to claim the income and pay taxes on it if your winnings aren’t enough to warrant the tax form. It just means that the institution won’t send a Form W-2G. TurboTax Tip: If you’re a professional gambler, you can file Schedule C as a...
Paying payroll taxes As an employer, you not only have to report the taxable income of your business, but there are a number of other federal taxes you need to pay that relate to your employees. This includes federal income tax withholding, Social Security, Medicare and unemployment taxes...
Taxes deducted from your paycheck for CPP are 5.95% in 2023.1If you are self-employed, you pay the employer's portion as well as your own. Understanding the Canada Pension Plan Nearly all individuals who work in Canada are eligible to contribute toward and receive benefits from the Canada Pen...
The tax filing deadline for most individuals in Canada is April 30th. However, if you or your spouse or common-law partner run a business, the deadline is June 15th. It's important to note that any taxes owed are generally due by April 30th. How Can I Check the Status of My Tax R...
Retirees can follow these simple guidelines to help manage their tax situation. Here's what you need to know about taxes in retirement.
While there are different flavors of legal structures, choosing which one will best serve your needs is based on multiple factors, such as how much personal liability you want to have, taxes and business registration requirements. For example, a sole proprietorship is the easiest to file, but ...
(HST), which is a combination of federal and provincial sales taxes. While customers pay these taxes directly through their transactions, businesses are responsible for collecting and remitting them. Provinces and territories in Canada might also levy their own provincial sales tax (PST) or retail ...
To update your TurboTax Advantage account, review these instructions. You must sign in to vote. Found what you need?Start my taxes Already have an account? Sign In(4.6/5 | 291,310 reviews) Intuit Use your Intuit Account to sign in to TurboTax. Phone number, email or user ID Remembe...
Does transferring moneyfrom Canada to China involve additional taxes? If you're looking tosend moneyfrom Canada to China, it's important to know if additional taxes are involved in the process. The answer isn't always clear but there are several factors to consider when remitting money internat...
WithShopify Shipping, businesses in North America automatically get access to pre-negotiated shipping rates with all of the top shipping carriers—UPS, USPS, DHL Express, and Canada Post. Normally you would need to get your own account with each of these carriers and negotiate your own discounts...