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made a few grand, Canadian

Discussion in 'Business & Tax Advice' started by comanche, May 2, 2010.

  1. comanche

    comanche Junior Member

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    I made a few grand from CPA signups and I'm Canadian. I deposited the money in a Canadian bank. I didn't declare all of it on my tax return. Will they find out, am I screwed? What will happen?
     
  2. Paper-Boy

    Paper-Boy Elite Member

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    you should ask an accountant ;)

    i really dont think they can track you down unless you gave your SIN.

    i could be wrong though.
     
  3. loclhero

    loclhero Supreme Member

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    Don't know about Canada but in US, if you are paid over $600 by anyone, they send what's called a "1099" to the person they paid and also notice to the IRS.
     
  4. comanche

    comanche Junior Member

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    Meh, pretty sure my bank account has my SIN, I didn't give it to them though. I'm hoping the worse that happens is that they send me another thing in the mail telling me about discrepancies, blah blah blah and there's no fine.
     
  5. NoWhErE

    NoWhErE BANNED BANNED

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    If it can leave a paper trail, declare it.

    If you're ever audited, they are going to want to know what every dollar you made came from.

    I would know, I've been audited a few times.
     
  6. Paper-Boy

    Paper-Boy Elite Member

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    i meant the CPA company.