SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : TAXES, TAXATION, TAX and Canadian stocks
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Jim Bishop who wrote (233)10/20/2000 1:10:14 PM
From: Kayaker  Read Replies (2) of 548
 
Hi Jim,

I've been talking to my accountant this week, trying to figure out where the line is between capital gains vs income. I did quite a few trades last year too and I haven't heard from RevCan either. But as I understand it, it probably just means they haven't looked. My accountant says if a person does get audited, they may look back up to 3 years. If we lose capital gains status, there will be the extra taxes to pay, plus interest.

It's a real pain in the butt that they don't put out clear rules on this. I'd adjust my trading to keep the capital gains rate if I had a better idea of what was acceptable. My accountant suggested that RevCan will have more incentive to look at people, now that the capital gains rate is at the 50% rate.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News