Need an accountant in Canada

[trock 0]

Hello all,

     Does anyone know of a decent account in or around Edmonton, Alberta area they could recommend. 

 

Thanks in advance 

[Vic L 0]

Hello,

Actually, I have the same question. I am also in Edmonton area, just getting started and think it would be prudent to get good advice on tax implications of day trading right up front for proper planning. Specifically whether I have a choice of choosing trading on "capital account" (investment) or trading "income account" (as a business), or can a combination of both be used, perhaps by segregating the two trading styles in separate accounts.

Each method seems to have pros and cons. From the little I have learned so far, trading on "income account" allows the write-off of many expenses as any business but the downside is that gains are treated as income and taxed at 100%. Trading on "capital account" does not allow the writing-off of business expenses but gains are only taxed at 50%. There seems to be some vague rules that define when someone is "trading on income" but CRA couldn't seem to tell me. I'm sure there are many who, by their day-trading activity, would be considered "on income account" while at the same time holding longer term investments which should be considered "on capital account". Although it makes sense to me to partition the two styles in separate accounts and treat them differently for tax purposes, I was told (unconfirmed) that it must be one way or the other, not both. So a good accountant familiar with tax rules surrounding day-trading might be worth the cost.

Any advice or links pertaining to Canadian tax advice on this subject would also be welcomed.

 

Thanks

[Sapperstien 74]

Sry to hi-jack the thread but was wondering if any Edmontonians might want to meetup to talk trading sometime? 

[Vic L 0]

On 10/13/2019 at 4:35 AM, Sapperstien said:

Sry to hi-jack the thread but was wondering if any Edmontonians might want to meetup to talk trading sometime? 

Possibly sometime but I am out of the country for the winter so maybe next year.

[Jason Mah 0]

I am an Edmontonian and would like to meet up for sure. I am still very green and will be on SIM soon. 

[Sapperstien 74]

16 minutes ago, Jason Mah said:

I am an Edmontonian and would like to meet up for sure. I am still very green and will be on SIM soon. 

HMU some time if you want. I'm always free. 

[Jason Mah 0]

Hey Sapperstien great to see another Edmontonian! Once I have my DAS running and have dived into we should meet up. I just feel I am too green at the moment to add much value.

[David 1]

Hi,

I'm in need of a tax accountant in the Ottawa/Western Quebec area.  Any contacts appreciated.

David

[Sapperstien 74]

On 11/20/2019 at 3:11 PM, Jason Mah said:

Hey Sapperstien great to see another Edmontonian! Once I have my DAS running and have dived into we should meet up. I just feel I am too green at the moment to add much value.

Yea we shoulda meet up with Dimah sometime. Do you guys have telegram/discord...?

2 minutes ago, Dimah Marhoon said:

Hey,

My name is Dimah and I have been a member of BBT for a year and a half. Did lots of studying and SIM. I have been trading live and full time only since April 2020. I am looking for an accountability partner to meet up with in Edmonton to go through trades and talk trading psychology. please email me if you are interested: [email protected]

Thanks

Sure, I'm in. I'll email you. 

[Dimah Marhoon 0]

Awesome! thanks