Search found 5 matches

by HelenBusheyQkyi
Mon Jun 20, 2022 5:56 pm
Forum: Canada / United States Tax & Accounting
Topic: Casino With- holding Tax
Replies: 12
Views: 7273

Re: Casino With- holding Tax

First, the price amount is shown for the applicable tax supply. Winnings up to $599.99 are tax-free. Anything over this amount is taxed as income. It is expected that 24% of the prize will be deducted before it is transferred to the winning candidate. If you implement the tax rate en masse, that rat...
by HelenBusheyQkyi
Fri Jun 17, 2022 6:28 am
Forum: Canada / United States Tax & Accounting
Topic: Casino With- holding Tax
Replies: 12
Views: 7273

Re: Casino With- holding Tax

All winnings over $600 are federally taxed. If you win 10 times that amount, the prize recipient is sent a Form W-2G to declare the number of their winnings in a report to the local IRS. Did you do the return or not? You can be assessed 28% tax on the amount you win. In addition to the federal tax, ...
by HelenBusheyQkyi
Wed Apr 20, 2022 4:19 pm
Forum: Canada / United States Tax & Accounting
Topic: Deemed Disposition of property by Emigrant of Canada
Replies: 8
Views: 5305

Re: Deemed Disposition of property by Emigrant of Canada

Most estate agents are in private practice, working for a private company only for themselves. In this situation, they also have to be entrepreneurs. It is somewhat rarer, but still possible to find professionals whose place of work is a real estate agency, an investment firm or company, or another ...
by HelenBusheyQkyi
Sun Feb 20, 2022 5:51 pm
Forum: Canada / United States Tax & Accounting
Topic: Annual FX rates
Replies: 3
Views: 2171

Re: Annual FX rates

HelenBusheyQkyi wrote: > Honestly, it's hard to say what affects the IRS calculation. At the moment, there are a huge number of economic and political factors that affect the stability of currencies. Among them are the actions of central banks in relation to the exchange rate, decisions of internati...
by HelenBusheyQkyi
Sun Feb 20, 2022 5:43 pm
Forum: Canada / United States Tax & Accounting
Topic: Annual FX rates
Replies: 3
Views: 2171

Re: Annual FX rates

Honestly, it's hard to say what affects the IRS calculation. At the moment, there are a huge number of economic and political factors that affect the stability of currencies. Among them are the actions of central banks in relation to the exchange rate, decisions of international organizations affect...