Canada CPA here with a masters in fiscality. Ask me your questions regarding accounting, taxes...

Canada CPA here with a masters in fiscality. Ask me your questions regarding accounting, taxes, retirement or anything that troubles you regarding the IRS/CRA.

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Legacy CPA? Or new CPA?

Is crypto to crypto taxable in Canada?

At the beginning of the year I did alot of trading crypto.... never took it serious and did not track every purchase and sell. Now I have the potential to make alot of money but my taxes will take weeks to calculate.... what do?

What is one of your favorite sources of information? I have to do some accounting to graduate from my BBA program, so any reading or information in-between would be helpful.

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CPA, CA. Older program (been CPA for about 4 years)

It's a grey zone. Right now, cryptos are only taxed following a monetary gain (fiat). That might change soon.

How much money do I need to have saved to retire at age 45 spending between $15k-20k per year in today's dollars (increasing only for inflation)?

I've got a notice of assessment about alleged over contributions to my TSFA since 2009. As well, fines for contributing while not a resident - I was studying in the UK at the time, which as far as I know means I should still be considered a (factual?) resident. First I've heard of any of it, and only got the notice last week, since 2017 was the first time I filed a tax return in Canada and I guess I'm in the system now. Problem is, with interest and arrears I now owe thousands.

I'm going through my paperwork to find out if I even did over contribute, but I've always been careful not to. Also I'm dubious about the validity on all the arrears and interest payments, since they're only telling me any of this now a decade later.

How fucked am I, and what's the best way to proceed? Spent all day trying to get through the inquiries line today but the CRA doesn't staff their garbage call centres properly

would you consider it a red flag if a finance company (auto loans) refuses to use CECL in their company filings?

Friend told me to open a tfsa. How much can i typciallt put into it? Can i immediately withdraw? How much is capital gains? Hoe nuch can i earn before i strat getting capital gains taxed. Are xrypto to crypto trades taxed? How do i go about doing that? I csnt just do 1 tax payment on the full amount? Wouldnt it come out to the same as the sum of the taxes?

i want to trade my bitcoin for maple syrup so i can smuggle it cross border, are there any finacnial risks?

Ok, we can trust what he says. Master of all trades.

A lot of this could be answered within TFSA FAQ. I believe the max contribution is 5k a year. Any unused contribution amounts roll over to the next year etc. Capital gains in the TFSA are not taxed. I believe the maximum amount you can hold in the TFSA is 180k.

Max in TFSA is 50k. Larping lawyer

How infuriating is it as a fucking leaf, to have a real country just below you? Fucking maple nigger, put Turdeau's head on a stick and we can talk.

Isn't canada's economy literally dying because of multiculturalism?

Hypothetically if a tax evader didn't want to pay capital gains tax on crypto because they don't want to give 50% of several million to an inept government, what would be the best way to go about it. Remember this is purely hypothetical.

Tax is for faggots

why cant i get a job as a part-qualified accountant
last interviewer told me i sounded too intelligent for the role and would most likely get bored
im either under or over qualified, never inbetween

Where to invest my money. Got an income.

How much btc and how much into real shit like a TFSA w/ mutua funds ect?

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American accounting student here. Why have I never heard of a masters in "fiscality?"

This years starts my accounting degree. I am in Europe.

Is it a good job?
Do you like your work? Do you regret it?
Do you have alternatives you can do as accountant?

Have you every heard of The Grace Commission?

Read The Grace Commission, yes it applies to your jurisdiction.

Come here and explain your cope after!

How does my father sell me or give me his cabin when he dies without being taxed out the ass? Apparently, I'll get taxed on the "fair value" (whatever the government thinks it's worth) which is like $250,000. He bought the land 40 years ago for 5k and put a 30k cabin on it 20 years ago. Where is the loop hole here?

I'm guessing you're not in America or you live in some weirdo state because the inheritance tax wouldn't kick in for something under a few million. You might be able to avoid it by having him sell it to you for $1 before he dies or something like that.

Also, I'd really like an answer to this

Canada

How does the CRA tax crypto for buying commodities like precious metals. I bought silver with crypto with a capital gain of roughly 5 dollars and I haven't sold the silver or sold for fiat, what info do I need to provide for my tax guy?

Might as well throw a bump

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does it bother you that you aren't smart enough to be an actuary?