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If you do business under your name, you don't need to register your business. Your business will be treated as a sole proprietorship. If your revenue exceeds 30,000 (or wish to collect GST for the government) then you will have to register with the CRA for a GST account, but that is free.


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Don't try individual stocks. If you have a job, any job, even one from mowing lawns, you can open a Roth IRA. If you are under 18 you will need your parents/guardian to setting up the account. You can put the an amount equal to your earned income into the Roth IRA, up to the annual maximum of $5500. There are advantages to a Roth IRA: you are starting to ...


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First of all, since you're 16 - you will not invest in anything. You cannot, you're a minor. You cannot enter contracts, and as such - you cannot transact in property. Your bank accounts are all UGMA accounts. I.e.: your guardian (or someone else who's the trustee on the account) will be the one transacting, not you. You can ask them to do trades, but they ...


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You can answer what ever you feel comfortable with. They have access to your credit report/score. They don't have access to your current income. They can't verify what you put down regarding your current income, unless they ask for copies of tax records. What you are doing is giving them a new, more recent, data point. When you applied for the card X ...


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Generally, they will use the same definition the IRS uses -- if you give them adjusted gross income off your tax forms, they'll be happy.


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If you are travelling only 3-5 months outside of India, then you are not classified as a Non-Resident Indian (NRI) for tax purposes and all your income would be taxed in India. Consult a professional tax advisor to see your specific case, for example people working in Merchant Navy would get different treatment.


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If your employer agrees to complete Form T2200, Declaration of Conditions of Employment it will determine what expenses you are expected to cover yourself as conditions of your employment. You can then write them off by submitting Form T777, Statement of Employment Expenses with your tax return. When working for other clients as an independent contractor ...


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I can't speak for Canada in special, but as you are an employee, your company should provide all the software, equipment and webhosting required for your work. If they can't provide you with an office on-site, they have to rent some office space for you somewhere. They could even decide to rent it from you, if you provide the best-suited office space in your ...


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The US requires its (tax) residents to report foreign accounts if the balances (on all the accounts together) are $10K or more at any given day during the year. This is done through the FBAR system. In addition, you obviously need to report this income on your US tax return and pay taxes. If the balances on your foreign accounts exceed specific threshold, ...


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This form is used to declare your non-US tax status. This is used only for foriegners. By declaring this form, that will not be with-held (Tax witholding is basically TDS in Indian terms). In simple language, they will not deduct tax. They will pay you amount without deducting tax. It is upto you to see if you are liable to pay taxes in US or not and pay ...



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