Isabella Daylesford I have a very low income 15,000.00 my husband splits the income so he gets a refund and I have to pay. With my income so low do I still have to pay income tax if I file it as a single person. If I did then wouldn't it make more sense for me to pay nothing and him to pay what he owes. Thanks 6:18 PM
Hi, my first question is regarding medical expenses. I work for a private company while my wife work for the government. We both pay into a medical plan at work. Can we deduct the amount paid towards those health plan in our medical expenses? I was told before that we shouldn't be able to for my wife since it is a government plan. If that is the case, I just understand why that would be different.
Hi, my second question is regarding professional income. My wife is a therapist doing work outside her regular job. At the moment, we are accounting for all income as the work is done. For example, if an appointment is held on Dec 21st an invoice is produced for that appointment for that day that that counts towards that year income, even if the payment in only received the following year. Is this the correct way? Expense are accounted as they occur. In addition, when mileage expenses are paid by clients, that is added to the income and the car expenses are deducted by tracking expenses, amortization, etc... as prescribed by CRA.
My son and I will get braces installed shortly. If we pay for all the braces upfront instead of having the monthly payment over two years, wouldn't it be preferable from a medical expense point of view? Since we have to spend 3% of our salary before we can claim, spreading that over 24 months will not allow me to claim as much. Is this right? If I pay for it all in one year, then I can claim everything above the 3%.
Items like computers normally have to be claimed over several years. is there a minimum that would be tolerated? For example, my wife bought a $250 computer for her business. Do we really have to go through the pain of amortizing such a low amount?
Is there a rule regarding the claiming some utilities for business? For example, we use home internet for business (no internet at the office). I normally claim 75% of the bill on business expense. That is an average based on our typical usage. Any problem with that? Same with printer ink cartridges, etc...