Post by
Red_Deer on Jun 13, 2024 3:38am
SARGEX...................RE:TAX TIPS...................
Hey SARGEX__Your POST is DEFINITELY Showing ALL WRONG Numbers !!!!
"""Anyway, on the personal income taxes. You should check all your facts. I just did a taxtips test and a person with OAS of 8600, CPP of 10,500, and dividends of 50,000 pays total tax of $1935 in BC compared $2954 in AB. That's a whooping 52.7% more.""
SARGEX__On Your EXAMPLE the TOTAL Income Would BE $88,100__With NET Income AFTER ADJUSTMENTS of $87,921.80.
THUS Your TAXABLE Income IS $87,921.80__Which RESULTS in GROSS FEDERAL TAX of $15089.22__From Which the Personal and Dividend Tax
Credits ARE Subtracted__Leaving a BASIC Federal Tax of 2241.86__To
Which a CLAW BACK of OAS of $178.20 is ADDED__Giving a FINAL
FEDERAL Tax Payable of $2420.06.
THUS Sargex__There is NO WAY That Any BC Tax Payor Would Pay ONLY $1935 that
YOU POSTED !!!__AS the Federal Tax PAYABLE IS the SAME for ALL PROVINCES.
And That IS $2420.06
SARGEX__LIKELY Your Posted ALBERTA TAX of $2954 Could ALSO Be WRONG eh ????
Comment by
national10 on Jun 14, 2024 10:04am
Guys, Guys........ See an accountant or a tax expert to address your concerns. There are alot of options to minimize your tax impact on the capitol gains / dividend income. Like offsetting carry forward losses, chartable donations, RRSP contributuions. The list goes on. Please obtain some professional advise. GTLA.
Comment by
Red_Deer on Jun 14, 2024 11:22am
Hey National__BOTH Sargex and I ARE VERY Up to Speed on TAX MATTERS NO NEED to Seek ""PRO"" Advise LACK of TAX Knowledge is NOT the ISSUE HERE__Issue IS that EVEN Though BOTH SARGEX and I WERE CORRECT in the NUMBERS We POSTED Sargex HAS CONTINUED to Make TOTALLY BOGUS Accusations that I AM ALWAYS WRONG
Comment by
national10 on Jun 14, 2024 5:33pm
Then please take the banter and crayons to another board.
Comment by
packerdriver on Jun 14, 2024 6:30pm
Red Deere....your "delivery" hurts my eyes...I'm not reading any more of your posts
Comment by
Red_Deer on Jun 15, 2024 1:51pm
Hey PackerDriver__OK__I LUV Reading YOUR Posts We DO Have VERY SIMILAR OPINIONS on MOST Topics Being DISCUSSED on Various Boards