UA-300188601-1 The Dividend Girl: 2010 tax declaration done and completed $$$

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Friday, April 8, 2011

2010 tax declaration done and completed $$$

When I work I work. I got my 2010 tax declaration completed. I own a total of 1 300$. This amount could be view as being quite big. But it’s my own fault. Let me explain. My weekend job does not take any taxes of my paycheck because I only work there 16 hours per week, generally speaking. From the 350$ gross salary, I guess the provincial and federal taxes would normally take 40$ per pay. 40$ x 26 weeks = 1 040$... See, so that I pay taxes or not on my weekend job pay to not really change anything but if I want to avoid paying extra in taxes next year, I will have to sign for a 40$ deduction on each and single paycheck. I don’t even work there all year long anyway. But we have to count as well my Google AdSense money (that unfortunately I had to declare) among other things. Taxes are increasing like crazy in Quebec. I have an extra 25$ contribution to make for Quebec Health Care. Next year, it will be an extra 100$ and the year after 200$. That’s what I had been told. Not cheap for a New Brunswicker who never got the chance to have a family doctor while living in Quebec. While living here, I never saw a doctor, I never went to the hospital. I am basically never sick, at the exception of seasonable normal flue that I treat myself. I absolutely love smoked mussels in can. I taught about it a couple of times, and I came to the conclusion that the reason why I have this really good health is because of all of those smoked mussels I had eaten in my life. Hummm.. Delicious... I have to take a pic of smoked mussels one day to show some to everyone.

I received today a federal tax credit of close to 100$. That’s good. I kind of need it at this time. Despite the fact that I have an extra 1 300$ to pay in taxes, I will still benefit from the federal and provincial taxes credit. I should received something like close to 500$ or so in total from those credits. In final, considering the tax credit I received today and the upcoming ones, it’s about 700$ that I will need to take from my pocket to pay my 2010 taxes. Not so bad. I didn’t earn that much of a salary in 2010. But still, it had exceeded the 40k.

My overtime at work is going well. My Sunday shift was not confirm at my weekend job, so I might just go at my week job place and do extra hours. Whatever can be done. Seem like there will be overtime for at least a couple of days. It’s very hard because I am generally easy and prefer to stay at home sleep late in my bed but hey, I have that 1 300$ contribution for my taxes that is waiting and also my project to pay off some debt. Nothing really easy, but nothing too difficult either. It’s always somewhere in the in between. Remember? 

Good night. ;)

7 comments:

Anonymous said...

Sunny,
Good on you for getting your Taxes done so soon. I'm still working on mine. Do you have a tool you use to keep track of your Adjusted Cost Base for your investments? Don't you find it a hassle with all the DRIPs you invest in?

RB

Sunny said...

Hi RB,

I was glade to have this done. I have many things going on and having my taxes done was a released, even after knowing I own some $$$ to the government.

I do my best to keep track of my investment. I don't use a specific tool. DRIP is not a hassle as its DRIP all by itself. What I do use is an excel document. And I also update my portfolio on a regular basis. I publish the update here on my blog. I am quite busy lately so I didn't update anything for quite a while.

Thanks for reading.

Anonymous said...

I'm not so sure she understands what an Adjusted Cost Base is!

Anonymous said...

Sunny,

Sorry you may have misunderstood. I meant, how do you keep track of your ACB for tax purposes, to calculate capital gains and losses? I find investing in DRIPs makes the ACB calculations very tedious, and I'm wondering if you've found a good tool to do this?

RB

Sunny said...

LOL! I think I didn't get what you mean. I didn't do that for my taxes. In 2010, I didn't sell anything, except my mutual fund that used to be manage by Steve Martin at Cres.

Paul said...

Sunny, are you OK?? There's been no update of your Dividend Girl blog for a week!

Sunny said...

Hi Paul! I am currently working on a post :0)

I am exhausted, I worked really hard lately on many things.

I done some overtime at work and I had to organized myself as my mother want to visit for Easter and so on.

 

Thank you

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