When I filled out my forms to start back at work I had asked for an additional $15 to be taken off per cheque. When I got my last payout I noticed the taxes didn't look high enough. I knew something was wrong because the number already seemed low, then if I considered the additional 15 to be taken off it was definitely not right.
I really don't want to pay too much taxes. I'd rather have the money in my bank account making me money rather than let the government have my interest in its pocket. Still, I don't want to risk being under taxed by work as I have been in the past and then have to dish out a few hundred bucks unexpectedly. I'm going to try doing things this way for a year and see how it works out for me.
So I approached the payroll person and asked them to double check if it had been inputed into my payroll options and I was right, it had been overlooked. They updated it immediately and it will take effect for my next cheque. Yay, I'm glad it was so easy to correct.
So the moral of the story is to make sure you keep an eye on payroll deductions. It was pretty easy to spot and only took a 5 minute visit to get it looked into and resolved. :0)
Showing posts with label tax. Show all posts
Showing posts with label tax. Show all posts
Friday, March 25, 2011
Friday, March 11, 2011
Taxes x 3
This year I get to file taxes three times over. Joy! How did I get into this predicament? I blame a year of glorious traveling :)
1)2009 taxes - Yes, you can all gasp in horror. I am behind my taxes. Shame pf blogger, shame! Well I must defend myself on this one. BF and I really wanted to get this done before we left but our T4's didnt come in time and we left figuring we'd deal with it when we got back. Well we're back and its time to pay the piper.
2)2010 taxes - I only made a small amount before I left for my trip. I think I only worked three weeks or something for the pharmacy to help out. BF doesnt remember working and so is not expecting to have to file. The one plus out of this is that because we didnt make much but did pay for MSP the entire time we were away we will probably be eligible for premium assistance which means we wont pay this year. Thats a big savings of $102/mo as we currently pay the maximum.
3) Oz taxes - Since the Australia tax year ends June 31 we've already filed taxes there once but we will need to file again. Its a pretty painless process that can be done online so I'm not worried about it. I also have a lot of time before I will even get my forms so its not something to stress about. My superannuation however I need to look into applying for asap.
I am really looking forward to getting caught up with taxes and not fearing the dreaded taxman anymore. I love the Beatles song in the post below!
1)2009 taxes - Yes, you can all gasp in horror. I am behind my taxes. Shame pf blogger, shame! Well I must defend myself on this one. BF and I really wanted to get this done before we left but our T4's didnt come in time and we left figuring we'd deal with it when we got back. Well we're back and its time to pay the piper.
2)2010 taxes - I only made a small amount before I left for my trip. I think I only worked three weeks or something for the pharmacy to help out. BF doesnt remember working and so is not expecting to have to file. The one plus out of this is that because we didnt make much but did pay for MSP the entire time we were away we will probably be eligible for premium assistance which means we wont pay this year. Thats a big savings of $102/mo as we currently pay the maximum.
3) Oz taxes - Since the Australia tax year ends June 31 we've already filed taxes there once but we will need to file again. Its a pretty painless process that can be done online so I'm not worried about it. I also have a lot of time before I will even get my forms so its not something to stress about. My superannuation however I need to look into applying for asap.
I am really looking forward to getting caught up with taxes and not fearing the dreaded taxman anymore. I love the Beatles song in the post below!
Saturday, April 18, 2009
Taxes Done And Done
Today BF and I had our taxes done. It was the first time we've filed together. I will be getting back $464.59 in the next couple weeks. May is definitely looking good. Three pay days, working the elections ($260) and getting a tax refund of $464.59. I'm going to have to plan out what to do with these funds before I get my hot little hands on them. I'm predicting a big increase in on my savings progress bars (which I need to clean up by the way - I need a blog makeover lol).
I found out today that because our incomes are now combined I won't be getting GST cheques anymore :( BF's response to this was that he felt he was worth the $400/year. He said "Can you believe you get all of this for only $400 annually?" with a big cocky grin. Uh huh..
One interesting bit that caught my interest was BF talking to the tax preparer about RSP contributions. That made me dance with glee inside. Finally, I'm rubbing off on him. :D
We all know I did some job hopping last year and of course it had the tax preparer giggling. Then the most embarrassing thing ever happened. She went to staple all my paperwork together and it broke stapler!!!! You read that right. Broke. The. Staple. She had to go into the back and get a heavy duty stapler. BF said he will never let me live that moment down and is still laughing about it. Whatev!
Anyway I'm glad to have it done. Any other last minute filers out there?
I found out today that because our incomes are now combined I won't be getting GST cheques anymore :( BF's response to this was that he felt he was worth the $400/year. He said "Can you believe you get all of this for only $400 annually?" with a big cocky grin. Uh huh..
One interesting bit that caught my interest was BF talking to the tax preparer about RSP contributions. That made me dance with glee inside. Finally, I'm rubbing off on him. :D
We all know I did some job hopping last year and of course it had the tax preparer giggling. Then the most embarrassing thing ever happened. She went to staple all my paperwork together and it broke stapler!!!! You read that right. Broke. The. Staple. She had to go into the back and get a heavy duty stapler. BF said he will never let me live that moment down and is still laughing about it. Whatev!
Anyway I'm glad to have it done. Any other last minute filers out there?
Tuesday, February 3, 2009
Strange New Calmness Regarding Tax Season
Usually this time of year I am bugging out my head eagerly awaiting all my tax documents so I can do my taxes. Not this year.
What's the difference? Well, I thought about it and I think its because this is the first year that I'm not desperate to get my hands on some dough. Every year I can't wait to get my T4's and other documents so that I can cash in. I usually have the money ear marked before I even have it in my hands.
Its made me realize how much more secure I feel with a few bucks in the bank and no debt looming over my head. A lot of times I am disappointed I never had that big WOOHOO moment when I paid off my debt. Heck, I haven't even written my blog post on it yet. Today though it hit me that this feeling of ease is the real pay off. I have been impacted in ways that I'm just discovering now.
If you are still in debt I really urge you to make the commitment and prioritize your finances to get that monkey off your back. I think you'll see a lot of change in your life. Best of all you'll have security and more confidence in yourself. I know its had a big effect on me personally.
What's the difference? Well, I thought about it and I think its because this is the first year that I'm not desperate to get my hands on some dough. Every year I can't wait to get my T4's and other documents so that I can cash in. I usually have the money ear marked before I even have it in my hands.
Its made me realize how much more secure I feel with a few bucks in the bank and no debt looming over my head. A lot of times I am disappointed I never had that big WOOHOO moment when I paid off my debt. Heck, I haven't even written my blog post on it yet. Today though it hit me that this feeling of ease is the real pay off. I have been impacted in ways that I'm just discovering now.
If you are still in debt I really urge you to make the commitment and prioritize your finances to get that monkey off your back. I think you'll see a lot of change in your life. Best of all you'll have security and more confidence in yourself. I know its had a big effect on me personally.
Monday, May 12, 2008
Darn You Government!
Don't you love how the government likes to grab every penny they can from you? UGH!!
This year when I received my interest relief form for 2007 from my Federal loan there was another letter attached with an amendment for 2006. So when I filed my taxes last month I filed them both.
A few weeks later I find out that because of the amendment I had been over paid and now they wanted their money back and they'd already tacked on a year's interest ($5) on the overdue amount!
How rude! First of all, it was their error not mine. Second of all I filed it as soon as I received the amendment. Then you charge me interest!! How is any of this my fault at all?
On top of everything I had to pay my own postage too! Grrr
This year when I received my interest relief form for 2007 from my Federal loan there was another letter attached with an amendment for 2006. So when I filed my taxes last month I filed them both.
A few weeks later I find out that because of the amendment I had been over paid and now they wanted their money back and they'd already tacked on a year's interest ($5) on the overdue amount!
How rude! First of all, it was their error not mine. Second of all I filed it as soon as I received the amendment. Then you charge me interest!! How is any of this my fault at all?
On top of everything I had to pay my own postage too! Grrr
Wednesday, April 30, 2008
Bypassing the Tax Man
I'm having some serious tax issues that I'll elaborate on in another post so I took my chances on trying to call their forever busy toll free number. Amazing I got through and had my call answered within 3 minutes. Wow!
After I finished all my questions I asked one on behalf of someone close to me. I was curious as to what happens when you decide not to do your taxes by the deadline. She stated very simply that if you are receiving a refund that there would be no penalty but it would be noted that it was filed late. If you owe then the amount will start accruing interest as of May 1st and may be subject to a penalty of 5%.
So today is the day people... the final chance to get them filed on time!
If you are trying to get some help with your taxes the toll free number is 1-800-959-8281. If you get a busy signal...I wouldn't be surprised,lol. If you get through and the mechanical man comes on just press * to bypass all the crap and get into the queue. Works like a charm.
Wednesday, April 9, 2008
It's GST Cheque Time Again Boys and Girls
This weekend when I visit my PO Box I am hoping that I will find both my GST cheque and my tax refund. That would make me a happy Dolly for sure!
A recent commenter asked what I plan to do with my GST cheque. Well, I think that I will plunk the full amount onto my student loan debt. I think I get about $95 or something quarterly so it will definitely help out.
As for my tax refund I've already posted that I will use $400 towards my student loan debt and reserve $100 for clothing. It looks like that money has already been spent as my BF went to Victoria for work today and while he was there he stopped in at MEC to pick up some things. They finally had THE sweater I have been drooling over for two months in stock in my size and I am thrilled. It's got 5/5 reviews and will be a great investment piece to take to Australia.
So what are you doing with your GST cheque?
A recent commenter asked what I plan to do with my GST cheque. Well, I think that I will plunk the full amount onto my student loan debt. I think I get about $95 or something quarterly so it will definitely help out.
As for my tax refund I've already posted that I will use $400 towards my student loan debt and reserve $100 for clothing. It looks like that money has already been spent as my BF went to Victoria for work today and while he was there he stopped in at MEC to pick up some things. They finally had THE sweater I have been drooling over for two months in stock in my size and I am thrilled. It's got 5/5 reviews and will be a great investment piece to take to Australia.
So what are you doing with your GST cheque?
Friday, March 21, 2008
Tax Question
When having my taxes done the other day I asked if I should hang onto my receipt for my Food safe course for next years taxes because it was a work related expense. I was told no because the cost of the course fee would need to be over $100 to claim any of it back. The course fee for Foodsafe is $69. Too bad.
Is this true?
Is this true?
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