Comments on: Tax Time: Tax Deductions & Credits For 2010

By: Joan Epp

Joan Epp — Tue, 28 Dec 2010 13:37:01 +0000

I have never used tax software before. I’m a recent widow. He left me the farm, I have a career, 3 teens and right now I employ a very expensive accountant. I’m interested but not sure it’s easy or efficient enough to do what I need it to do. Taxes are like a big mystery that’s being unravelled day by day to me.

By: Tax Guy

Tax Guy — Wed, 25 Aug 2010 20:30:40 +0000

The commission you are paid (not the draw) is taxable income. The draw is only an advance that is repaid.In terms of deductions, salespeople may have certain deductions which I explain here.

By: Nandu

Nandu — Wed, 25 Aug 2010 17:58:54 +0000

I am going to work on a “Draw and Commission” basis, i.e. “they give me small “Draw” of $300 every week and then, I get commision for each sale, with Commisssions being paid in arrears bi-weekly at a rate of $500 per unit sold with 50% of the total being applied to any previously outstanding draw”.

Can you explain me what this means; and can I subtract my direct expenses (automobile to get sales and lunch for client, etc) from the “Draw”, i.e. that effectrively reduces my gross income for the purpose of calculating taxes?

By: Erin D

Erin D — Fri, 05 Mar 2010 23:22:36 +0000

I love tax software! I used to work as a tax preparer in the days where doing the returns by hand was typical, so I love the ease of use of the tax programs (and I LOVE that I don’t have to sit there with a calculator). The feature that optimizes your refund is fantastic!

By: Joe Helten

Joe Helten — Fri, 05 Mar 2010 23:13:24 +0000

First comment but I read this blog pretty often. Thanks for the tips!

By: Felix Berube

Felix Berube — Fri, 05 Mar 2010 21:14:54 +0000

I use tax software but found if one does not know how to use it they may not be doig themselves a favor.

By: The Rat

The Rat — Fri, 05 Mar 2010 15:35:48 +0000

This is an awesome thread BTW–great tips.

By: Simon

Simon — Fri, 05 Mar 2010 15:11:47 +0000

I use tax software before (Quick Tax and UFile). They haven’t turned up any unexpected deductions or credits, but I keep hoping.

By: Friday Links - Canadian Finance Blog

Friday Links - Canadian Finance Blog — Fri, 05 Mar 2010 10:01:40 +0000

[...] Canadian Tax Resource Blog point out available tax deductions and credits for 2010. [...]

By: Chavdar

Chavdar — Wed, 03 Mar 2010 04:06:07 +0000

I am in too. I sent my netfile last year using tax software but there were no hints or advices, just stright data entry and links to CRA web site. I will be happy to try QuickTax!