Tax Fiasco

For all my good intentions, tax time has turned into a fiasco. It turns out we have to file a paper return for a variety of annoying reasons, but I thought I was pretty clever because I had used tax software to do our taxes and what could be easier than transferring a few numbers onto Ye Olde Paper Return?

The tax software happily does the calculations for you and protects your innocent eyes from all the horrid schedules and worksheets… that need to included in the paper return. So I have the final answers, but I need to show my work. Over the afternoon, I worked out most of the numbers but two things are left hanging: a mysterious $515 extra dollars that (apparently) Thomas doesn’t owe on his provincial taxes, which would increase our return and the list of 238 items to be included for the Home Renovations credit.

My miscalculation for the provincial tax (I trust the software and clearly, I’m a moron) worries me but we’ll be reassessed and Canada Revenue can figure it out. I certainly can’t. As for the Home Renovations credit, I understand what has to be done but it is a giant pain in the rear. I have to provide a detailed list of our renovation receipts, including date, supplier, GST amount and description for 238 individual items. It would have been 385 but the credit is only good for the first $10,000 and we spent about $10,300. Thomas very cleverly pointed out that we shouldn’t bother to include the lowest priced items so anything under $4 is out, which leaves us with a credit of just over $10,000. I still have to do the work, though. And you may have noticed that it’s May 1. Ahem.

If you don’t hear from me for a few days, I may be smothered under receipts from the Home Depot.

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1 Comment

Filed under Frugal Living, Renovations, Times of Trouble

One response to “Tax Fiasco

  1. Just one more reason why I love that my husband is an accountant. Good luck!

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