Jan..2017 locations & more

OntarioVanMan

Retired Expediter
Owner/Operator
My CPA just does straight up flat rate .... it is not even a close issue... you'll never touch the flat rate...
And no not that quick cuzzz you are adding up a 1,000 receipts manually... lol
 
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RoadTime

Veteran Expediter
Owner/Operator
he knows of that it appears...but looks like he is using the "Actual" method...he losing 1,000's if he is....and lots of unnecessary adding...the Flat rate especially with a new van is the by far winner...

I stopped adding them up 2 years ago as it was pointless on flat rate. Now I just keep them in their envelope on the off chance I do a midyear switch (which I don't see happening), I don't even scan them anymore :rolleyes:
 
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RoadTime

Veteran Expediter
Owner/Operator
The Return of Mighty Mouse :rolleyes:

I thought I solved my mouse problem after using OVM's suggestion of using tin foil as a barrier. I backed that up by adding foil tape behind it to fill in any gaps. This created a 5ft wall behind my furnace that would have to be climbed over. (quick recap- I have a gap behind my furnace leading to the crawl space that I can't reach to close off without removing the furnace). But this morning, I found one executed mouse who scaled the wall and ended up in my maze of death at the bottom.

I think I figured out how it descended the 5ft wall...

rsz_logo.png
 

brokcanadian

Veteran Expediter
Owner/Operator
Ok. Keep it coming.:mad:

Any Canadians willing to chime in? How do you structure your taxes?

A van by design is a "motor vehicle" so disqualified for per km deduction. A van is less than 11,000 kg so does not qualify as a "long haul truck" for those deductions (like meals). Not being an employee, I can't take the daily allowance (for being away from home).

Anybody? My solution was not to file, doesn't seem to be working well

Google is silent on anything useful, you'd think with over 3000 courier companies in Toronto somebody'd post something

Maybe I should try that "free citizen" stuff

Oh and still sitting at home which is why I'm going crazy but trying to plan this year to be a good one
 

OntarioVanMan

Retired Expediter
Owner/Operator
Ok. Keep it coming.:mad:

Any Canadians willing to chime in? How do you structure your taxes?

A van by design is a "motor vehicle" so disqualified for per km deduction. A van is less than 11,000 kg so does not qualify as a "long haul truck" for those deductions (like meals). Not being an employee, I can't take the daily allowance (for being away from home).

Anybody? My solution was not to file, doesn't seem to be working well

Google is silent on anything useful, you'd think with over 3000 courier companies in Toronto somebody'd post something

Maybe I should try that "free citizen" stuff

Oh and still sitting at home which is why I'm going crazy but trying to plan this year to be a good one
Trying to remember my Canadian taxes..but its been too long probably with changes from Revenue Canada...I took all expenses and per diem that I know...
 
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jujubeans

OVM Project Manager
Ok. Keep it coming.:mad:

Any Canadians willing to chime in? How do you structure your taxes?

A van by design is a "motor vehicle" so disqualified for per km deduction. A van is less than 11,000 kg so does not qualify as a "long haul truck" for those deductions (like meals). Not being an employee, I can't take the daily allowance (for being away from home).

Anybody? My solution was not to file, doesn't seem to be working well

Google is silent on anything useful, you'd think with over 3000 courier companies in Toronto somebody'd post something

Maybe I should try that "free citizen" stuff

Oh and still sitting at home which is why I'm going crazy but trying to plan this year to be a good one
Trying to remember my Canadian taxes..but its been too long probably with changes from Revenue Canada...I took all expenses and per diem that I know...
Get a good accountant... worth their weight in gold!
 

brokcanadian

Veteran Expediter
Owner/Operator
Get a good accountant... worth their weight in gold!
Yes. GOOD one being the key word. My last CPA screwed my taxes so badly I owe 26,000 on 40,000 income. 4 years later, its yet to be corrected and they're still garnishing wages.

So that my friends is why every so often I babble on these forums about taxes. Surprisingly not too many Canadians chime in

And sorry I'm jealous of you Americans
 

OntarioVanMan

Retired Expediter
Owner/Operator
Get a good accountant... worth their weight in gold!
Yes. GOOD one being the key word. My last CPA screwed my taxes so badly I owe 26,000 on 40,000 income. 4 years later, its yet to be corrected and they're still garnishing wages.

So that my friends is why every so often I babble on these forums about taxes. Surprisingly not too many Canadians chime in

And sorry I'm jealous of you Americans
guess I got lucky...I had a good one in Hamilton....I never paid Can. taxes...he was an old Irishman...O Sullivan...
 

Treadmill

Veteran Expediter
Owner/Operator
ummm.....Y are you adding gas receipts?
...
I told ya you'd be sore once the adrenalin rush was over...I seen people seeming unhurt and walk away from an accident only to collapse an hour later...

Psssst look ...Iowa guy is counting gas receipts....LOL now there is self induced pain....LOL

Maybe someone should tell him about the per diem?

Yes we file joint, usually my mileage wipes out Mrs.Fast tax liability and we get all hers back. And just yearly


Lost in Space.

yeah same here....don't now why Mr. 3000 is doing what he is doing unless he just likes to add....LOL

at 200,000 miles for the year say at .55 a mile....thats a whopping $110,000 deduction right there...not even figuring in per diem
... OVM .... you know from phone conversations that Our CPA does the Official Tax work ... but we bring all totals into her ... and Yes the Per Diem and Business miles win out ... however since the tax laws change alittle every year and the CPA itemizes on 1 computer screen and P D and Miles on the other computer screen ... she shows us both breakdowns ... in and out in less than an hour ... easier to add everything up now ... instead of scratching your head 2 years down the road if Audited ...

Sent from my SM-G900M using EO Forums mobile app
You do know that you can't flip back and forth from flat to actual. Once you start on a vehicle it has to stay the same flat or actual until you change vehicles.
 
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jujubeans

OVM Project Manager
Get a good accountant... worth their weight in gold!
Yes. GOOD one being the key word. My last CPA screwed my taxes so badly I owe 26,000 on 40,000 income. 4 years later, its yet to be corrected and they're still garnishing wages.

So that my friends is why every so often I babble on these forums about taxes. Surprisingly not too many Canadians chime in

And sorry I'm jealous of you Americans
guess I got lucky...I had a good one in Hamilton....I never paid Can. taxes...he was an old Irishman...O Sullivan...
Dennis O Sullivan.. wonder if he's still in business..
 

brokcanadian

Veteran Expediter
Owner/Operator
Get a good accountant... worth their weight in gold!
Yes. GOOD one being the key word. My last CPA screwed my taxes so badly I owe 26,000 on 40,000 income. 4 years later, its yet to be corrected and they're still garnishing wages.

So that my friends is why every so often I babble on these forums about taxes. Surprisingly not too many Canadians chime in

And sorry I'm jealous of you Americans
guess I got lucky...I had a good one in Hamilton....I never paid Can. taxes...he was an old Irishman...O Sullivan...
I guess you got lucky. But I didn't pay for 17 years previous so it might be a case of not being on their radar before.
 

OntarioVanMan

Retired Expediter
Owner/Operator
ummm.....Y are you adding gas receipts?
...
I told ya you'd be sore once the adrenalin rush was over...I seen people seeming unhurt and walk away from an accident only to collapse an hour later...

Psssst look ...Iowa guy is counting gas receipts....LOL now there is self induced pain....LOL

Maybe someone should tell him about the per diem?

Yes we file joint, usually my mileage wipes out Mrs.Fast tax liability and we get all hers back. And just yearly


Lost in Space.

yeah same here....don't now why Mr. 3000 is doing what he is doing unless he just likes to add....LOL

at 200,000 miles for the year say at .55 a mile....thats a whopping $110,000 deduction right there...not even figuring in per diem
... OVM .... you know from phone conversations that Our CPA does the Official Tax work ... but we bring all totals into her ... and Yes the Per Diem and Business miles win out ... however since the tax laws change alittle every year and the CPA itemizes on 1 computer screen and P D and Miles on the other computer screen ... she shows us both breakdowns ... in and out in less than an hour ... easier to add everything up now ... instead of scratching your head 2 years down the road if Audited ...

Sent from my SM-G900M using EO Forums mobile app
You do know that you can't flip back and forth from flat to actual. Once you start on a vehicle it has to stay the same flat or actual until you change vehicles.
yep...no need ever to use actual the way the numbers crunch...
 
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brokcanadian

Veteran Expediter
Owner/Operator
Dennis O Sullivan.. wonder if he's still in business..
Not any longer, but thank you. Anybody who knows a good CPA in the GTA I'm ready to dump all my problems in his lap.

My current fantasy is to incorportate in Nevada and take 55c per mile, owe nothing, and bring the money back across through a dividend at 15% tax :p

(In case of a problem I can take all the money straight to a casino and bet it all on red)
 
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RoadTime

Veteran Expediter
Owner/Operator
You do know that you can't flip back and forth from flat to actual. Once you start on a vehicle it has to stay the same flat or actual until you change vehicles.

Partly true, but not totally.

"Although a taxpayer may switch to the actual expense method on this year’s return if he or she previously used the standard mileage rate, you can’t switch the other way around if you’ve previously claimed accelerated deprecation".
 
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