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Forum: Internet Gambling 12-30-2005, 10:32 PM
Replies: 4
Views: 13
Posted By TorontoCFE
Re: tax question: Canadian studying in the US

The Canada-US tax treaty is designed to determine which
country you pay taxes to (thus avoiding being taxed on the same income more than once).

Which country you pay taxes on depends on residency...
Forum: Internet Gambling 12-30-2005, 10:24 PM
Replies: 1
Views: 3
Posted By TorontoCFE
Re: CANADIANS: Do any of you use a CCPC for tax purposes?

If you're not a pro player than the taxes are 0.

If you are a pro and you have no other income, then expect to pay about 30% if you make 30-70k and 40% on the portion over 70k.

If you use a...
Forum: Politics 12-03-2005, 03:55 PM
Replies: 21
Views: 14
Posted By TorontoCFE
Re: Canadanarchy!!!

Chretien has said in the past that what he knew, Martin knew.

Most voters are uninformed sheep so they will fall for the scare stories about the Conservatives and the bribery with their own money...
Forum: Internet Gambling 12-03-2005, 03:27 PM
Replies: 5
Views: 6
Posted By TorontoCFE
Re: Canadian Tax Question

The only distinction that matters is whether poker is a business for you.

Whether poker earnings constitute 1% or 100% of your income is irrelevant.

It is your intent and approach to playing...
Forum: Internet Gambling 11-29-2005, 07:53 PM
Replies: 10
Views: 11
Posted By TorontoCFE
Re: Withdrawing Canadian Funds from Neteller (conversion rates?)

Why not open an account in a US bank, withdraw the money in cash and then convert it at a B&M casino - they often offer a good rate if you shop around.
Forum: Internet Gambling 05-30-2005, 12:30 PM
Replies: 22
Views: 23
Posted By TorontoCFE
Re: How is gambling taxed in Canada?

You are right - I am conservative. While it goes against a lot of who I am, my job requires that I keep my employer from assuming too much risk. That's what I'm paid to do.

Don't forget, if an...
Forum: Internet Gambling 05-26-2005, 08:50 AM
Replies: 22
Views: 23
Posted By TorontoCFE
Re: How is gambling taxed in Canada?

First, 95% of all ACCOUNTANTS do not understand the tax laws and gambling well enough - As an accountant, I deal with dozens all of the time and the truth is they hear "gambling" and they default to...
Forum: Internet Gambling 05-02-2005, 07:57 PM
Replies: 35
Views: 36
Posted By TorontoCFE
Re: Serious tax problem.. Need advice.

Sometimes it is in your favour to consider your poker earnings as business income. In Canada, business income is deductible against all other income. That means that if you happen to have alosing...
Forum: Other Other Topics 02-17-2005, 07:41 PM
Replies: 5
Views: 6
Posted By TorontoCFE
Re: Where would I ask questions online (on twoplustwo?) about Canadian

Technically speaking, you are required to pay income tax on poker earnings if you are in the business of poker.

You can see my posts at...
Forum: Politics 02-17-2005, 01:21 PM
Replies: 1
Views: 14
Posted By TorontoCFE
Re: U.S. tax rates on gambling competitive disadvantage online?

You wouldn't be at a "competitive disadvantage" to other players in a strict sense - you are not in competition with other players to make the most money, only trying to maximize your own take home...
Forum: Other Other Topics 02-17-2005, 01:07 PM
Replies: 5
Views: 6
Posted By TorontoCFE
Re: Where would I ask questions online (on twoplustwo?) about Canadian :

1. The amount of money you earn has no impact on whether you are taxable.
2. There is no such concept as a "professional" gambler in Canadian tax law.
The releveant issue is simply whether you...
Forum: Other Other Topics 01-12-2005, 03:22 PM
Replies: 25
Views: 26
Posted By TorontoCFE
Re: Laser Eye Surgery

I've had to have my eyes redone twice.

My eyes regressed after a year and it had to be redone and then redone again after there was some infection.

It was a nightmare but I still don't think...
Forum: Politics 01-12-2005, 03:08 PM
Replies: 24
Views: 14
Posted By TorontoCFE
Re: American Bastard

"And for your proclamation that the U.S. didn't "get their head out of the sand" and join Canadian forces in WWII until two years after the Canucks, well, let me remind you that the U.S. was a little...
Forum: Politics 01-07-2005, 10:22 AM
Replies: 24
Views: 14
Posted By TorontoCFE
Re: American Bastard

Not every Canadian resents the US.
The lack of respect goes both ways though.

Yes, Canadians boo the American anthem - it was more pronounced after the Canadian flag was displayed upside down and...
Forum: Politics 12-31-2004, 05:41 PM
Replies: 10
Views: 12
Posted By TorontoCFE
Re: Sri Lanka said refusing IDF aid team... refusing aid???

I spoke again to a customer who travels frequently to this area.
His opinion, which I defer to, is that since those particular areas have the highest concentration of Muslims, the prime minister...
Forum: Politics 12-31-2004, 09:42 AM
Replies: 10
Views: 12
Posted By TorontoCFE
Re: Sri Lanka said refusing IDF aid team... refusing aid???

The story I have heard is that the most affected regions are 25-40% Muslim.

No matter what the situation, politicians will never forget politics.
Forum: Internet Gambling 12-31-2004, 09:23 AM
Replies: 3
Views: 4
Posted By TorontoCFE
Re: Any tax advice for foreigners (esp. Canadians) residing in the US

If you don't have a permanent home in the US (as a student I assume no), then you would be considered a non-resident alien under the Canada-US tax treaty.

This means that you would only be liable...
Forum: Politics 12-30-2004, 01:31 PM
Replies: 47
Views: 16
Posted By TorontoCFE
Re: $35M Aid to Disaster Relief

You can hire a doctor in most parts of Canada, at least for certain things.

While Canada certainly suffers from too much of the "government owes me and I owe it" mentality, it is possible to go...
Forum: Internet Gambling 12-24-2004, 09:55 AM
Replies: 55
Views: 56
Posted By TorontoCFE
Re: Anybody know where I can hide a body?

"As for taxes, long live "gambling-winnings are tax-free" Canada "

It is half-true statements like this that make me certain there there will always be a need for accountants.
Forum: Internet Gambling 12-24-2004, 09:54 AM
Replies: 55
Views: 56
Posted By TorontoCFE
Re: Who Reports Their Winnings As Income?

Actually, they don't have to prove you lost the money gambling.

First they may wonder why you kept gamlbing if you always lost (assuming you don't report a reasonable win rate).
Then they would...
Forum: Internet Gambling 12-24-2004, 09:46 AM
Replies: 55
Views: 56
Posted By TorontoCFE
Re: Who Reports Their Winnings As Income?

It makes me shake my head when people think the risk of getting caught are 0. Contrary to what many people think, the government watchdogs are not stupid. They have seen and know more about money...
Forum: Other Other Topics 12-09-2004, 01:38 PM
Replies: 1
Views: 2
Posted By TorontoCFE
Interesting career options

My long-term career plans have been to work at as high a level as possible in finance and then switch to being self-employed as soon as the contacts / network allows. The idea, like most people...
Forum: Televised Poker 12-08-2004, 03:12 PM
Replies: 38
Views: 15
Posted By TorontoCFE
Re: Clonie G -- eye candy or great poker player - or both?

try www.ClonieGowen.com (http://www.ClonieGowen.com)
Forum: Politics 12-05-2004, 09:44 PM
Replies: 16
Views: 11
Posted By TorontoCFE
Re: Canada\'s not so nice, after all

That's very well written.

I think the best that can be said is that not all Canadians harbour anti-US feelings or feel superior.
I think that some poeple cope with their countries' lack of...
Forum: Other Other Topics 12-01-2004, 01:41 PM
Replies: 31
Views: 32
Posted By TorontoCFE
Re: Will there ever be another Jeopardy! champion as great as Ken Jennings

There will be another long run - past champs could have done the same under the current rules.

The thing is, knowing the answers is not the hardest part - it is being quick to buzz in. ...
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