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Showing content with the highest reputation on 03/08/2021 in all areas

  1. 1 point
    Yes - but this is not black and white like in the US where everything under one year is defined as short term capital gains. Who decides what's short period of time? One week? One month? 3 months? Plus they mention that this is one of the factors, not the only factor. What about someone who has a full time job but also trades and holds for short period of time? But again, the main point here that it's not about options or stocks - it's about many other factors, and it's probably better to let the professionals to do their job and advise you how to treat it. And if in doubt, second opinion is always advisable.
  2. 1 point
    If perhaps I could have claimed capital gains then maybe I am owed money. I'm pretty sure whatever I am claiming is right as the same accountant and now his son have been filing for me since 1985. I have been audited before. And as someone else asked, a person can deduct 10% of household expenses like rent, utilities etc. for office in the home. Internet and cable are 100% writeoffs as are any subscriptions like SO, globe and mail, economist etc.
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