Feeling really bummed out about taxes!

[momofnerds]

wow, you must have made alot of money to owe that much. I would suggest an accountant to do your taxes.

[apples and bananas]

I just had my taxes done and this was my first Full year of doing daycare. I got a couple of hundred back. I have an accountant do it. You can find all sorts of people who do taxes out of their home. Check with some other daycares in your area to see if they have anyone they use. I've heard that H and R block is not good for small business. They charge too much and they don't always write everything off that you can. I don't know that from experiance, but I've heard. I have a private girl do mine for 75 bucks. $300.00 at HandR sounds like a lot to me.

Prior to my daycare days I always had H&R block do my personal taxes and they always did a great job.

Everyones situation is different. I get different write offs because of my relationship status, my kids age, fitness tax credits, charitable donations, RRSP contributions etc.

Re do them with all of your write offs. I give my accountant all of my house hold bills including insurance I pay on the house. ( I have an extra rider because I own a home bases business )

$4000 can't be right. Don't get discouraged.

[sweetness852010]

I do have an accountant she phone me last night to tell me she was starting it. She didnt put any of the deductables yet. Its based on what i made for the year. I try and put money away each month but we end up using it for some months. Last year i found i couldnt save around christmas time the summer when i had school age kids they tend to eat more and my food bill went from 250/month to 400/month. So as it stands this is the last year i take school age.

[playfelt]

That doesn't make a lot of sense because our deductions come off before we even get to the bottom of page one. Everything from there on is based on the amount we earned AFTER our deductions as in net income not gross income. Then you take things like basic personal expemption off, etc. I don't have a lot of additional deductions other than that as my husband claims most of them including the kids.

Also make sure that she is basing the amount of Canada Pension you owe on the net income and not the gross income too.