The Tax Preparation Blog

Posts Tagged ‘quebec’

Second Cup Income Fund Announces Second Quarter Results and July Distribution

MISSISSAUGA, ONTARIO– – Second Cup Income Fund reported today financial results for the second quarter ended June 30, 2010, and the approval of the July distribution payment. The Fund’s units are traded on the Toronto Stock Exchange under the symbol “SCU.UN”.

Ignatieff would cancel tax cuts to pay for new spending priorities

Velan Inc. Reports Its Third Quarter 2009/10 Financial Results

MONTREAL, QUEBEC–(Marketwire – Jan. 11, 2010) – Velan Inc. (TSX:VLN) Velan Inc. today reported its financial results for the third quarter ended November 30, 2009. /T/ SUMMARY OF RESULTS (In millions of Canadian dollars, except per share amounts) THREE MONTHS ENDED NINE MONTHS ENDED NOVEMBER 30 NOVEMBER 30 2009 2008 2009 2008 ——————————————————– Sales 111.2 …

Canadian Retirement Tax Services

De-amalgamation not on table for Tories

Ontario Progressive Conservative leader Tim Hudak promised to review residential areas that have been hard hit by amalgamation, where homeowners have experienced higher taxes and declining services.

Real Estate Round Table Series – Ontario Land Transfer Tax

Question: What to do if I didn’t file my Canada tax return in 2005 and 2006?

Hi,
I have not filled out my tax forms in Canada for years 2005 and 2006 because I didn’t have any income and I was basically ignorant about it (which was my mistake) But now I’m starting to get worried and I’m thinking of filing my 2007 tax forms so that the Canada government knows that I’m still around and knows what I’m doing. I should also mention that I did not have any income in 2007 either.
Can someone guide me on what to do now? I have gone to quicktaxweb website to fill up my tax form for 2007 but is there going to be a problem for me considering that I havent filled out the form for 2005 and 2006?
Thanks in advance for your help.

Answer: you should file your 2005, 2006 and 2007 tax returns together.

otherwise, the CRA will send u a letter asking for the 2005 & 2006 returns.

John Hancock Closed-End Funds Declare Monthly Distributions

Five John Hancock closed-end funds declared their monthly distributions today as follows:

Getting Organized for Tax Time – 2009 Tax Service Preparation

Question: Which Form should I file NJ-1040 or NJ-1040NR?

My Case:
———–
-I am not a homeowner. I rent apartment.
-I stayed in CA from 1/1/06 till 11/19/06 in CA and earned income as Salary and wages from CA
- I switched my Job and came to NY (Not NYC) and stayed in Hotel from 11/20/06 to 11/30/06
- I rented apartment in NJ from 12/1/06 and staying till date
- From 11/20/06 to 12/31/06my source of income was from NY
- My employers send me W2 for CA and NY
- I have done my Federal and NY & CA state tax returns

Questions:
—————-
1. Which form I need to fill for NJ return? Why?
2. What benefit I can claim?
– taxes paid to other jurisdiction
– OR/AND Property Tax Benefit (rental)
– Cerdit OR Adjustment
3. If I get Renter Benefit which is $50 , does this need to be prorated too (50*(1/12)) since I stayed for 1 month in NJ?
4. Do I really need to file NJ return for 2006?

Answer: You would file NJ-1040, but check the box for “part-year resident”. You would report only the income earned while you lived in NJ. You would have to prorate any deductions.
Since you already paid tax on these wages to NY, you would receive a credit for taxes paid to other jurisdictions, and therefore will most likely not owe NJ tax.

MSCI Inc. Reports Record Fourth Quarter and Fiscal Year 2009…

MXB ,a leading global provider of investment decision support tools, including indices and portfolio risk and performance analytics, today announced results for the fourth quarter and fiscal year e…

Loan Modification, Short Sale, Foreclosure, Tax & Legal Ramification – Free Workshop: Don Jessup