Sunday, May 1, 2011

Retroactive "Live-blogging" Tax Season 2011

You know what? I'm only half way through writing this and have come to the conclusion that it is boring as shit. Actually, shit is far more interesting (just ask any mother of a newborn). So let me just give you a couple of highlights:

- Steve did my taxes! Yay!
- Then, because I am sick, he took them to the post office and brought me back a chocolate-mousse pastry with a gooey caramel centre!
- If Steve did the numbers correctly, it looks like I'm getting a tax refund from Canada this year!
- Next year, I will have one source of income, in one country. My taxes will be straightforward, and I should be able to do them myself.

- Fin -

One of my very first posts on this here blog was about how much I detest doing my taxes. It's ridiculous, really. This year, I procrastinated worse than any year previously.

My taxes are complicated because I have five sources of income from two countries, I cashed in some RRSPs, sold a house (and made a profit), and ceased owning a rental property. Do you have any idea how many supplementary forms that demands?!

March 5, 2011
Filed my U.S. federal and state tax returns. Since they won't do direct deposit to a Canadian institution, I had them snail-mail it to me.

In the past five years, the amount I've owed Revenue Canada has been roughly equal to what I've received as a refund from Uncle Sam. So waiting for the cheques to arrive gave me a credible excuse to dilly-dally.

All my tax files remain neatly stacked in a green folder on the coffee table.

April 1, 2011
Cheques arrive.

All my tax files remain neatly stacked in a green folder on the coffee table.

April 8, 2011
Cheques are deposited, but require a two-week holding period. Yay! More reasons to procrastinate.

At some point, Steve took pity on me and bravely offered to do my taxes for me this year, which saves me great sums of cash. Hiring a professional to do just the rental property part cost me close to $500 last year. (Maybe Steve just got tired of seeing all my tax files neatly stacked in a green folder on the coffee table.)

April 23, 2011
Steve declares, "We should do your taxes this weekend." I proceed to place the newspaper sections erratically over all my tax files which remain neatly stacked in a green folder on the coffee table.

April 30, 2011
Tax Day. [Note: I learned after the fact that taxes are actually due on midnight Monday, May 2, but I'm heading out of town on the 1st, so that extension is kind of moot.]

- 2:00 p.m.
Open the green folder and realize that my Canadian T4 is not in there. I must have left it at work. 
Get a paper cut.

- 3:00 p.m.
Drive to work. Half way there, get a call from Steve saying that he has found the errant T4. Return home.

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