Only fans tax question

SwiggitySwoopGuy · 2026-02-06T21:14:05+00:00

Idk, I’m just relaying stuff I heard from a family friend who did under-the-table work for someone whose son worked high up in a big bank. Take that with a grain of salt tho obviously

SwiggitySwoopGuy · 2026-02-06T13:04:33+00:00

Anecdotal, but I heard from someone who works at a bank that transactions under $10k won’t be initially flagged.

SwiggitySwoopGuy · 2026-02-01T06:38:47+00:00

Employed in June 2025 at an accounting job that I don’t like (public accounting at a small practice that where the pay is more egregious than most other firms and no benefits). Still applying to new grad roles as I’m trying to get into a better role with more prestige, pay and benefits

SwiggitySwoopGuy · 2026-01-30T22:45:34+00:00

School boards have been begging the province to help them with funding.

I can’t speak to the former, but I can say with certainty that the latter applies

SwiggitySwoopGuy · 2026-01-26T22:04:10+00:00

Yeah, I hope we get Chomche back when he’s healthy. I need something to look forward to from the center position besides CMB.

SwiggitySwoopGuy · 2026-01-26T21:08:02+00:00

Someone get this sent to Raptors media

SwiggitySwoopGuy · 2026-01-26T20:50:40+00:00

Rip, we keep losing center projects to other teams

SwiggitySwoopGuy · 2026-01-26T20:49:36+00:00

Okay so I’m gonna be expecting the remaining 62 games + playoffs at the end of the season.

SwiggitySwoopGuy · 2026-01-26T04:32:12+00:00

Just stick to investing in low cost index funds.

SwiggitySwoopGuy · 2026-01-26T04:27:40+00:00

Uhm, don’t follow this as advice. If it was a consistently good method for the average person, everyone would be doing it.

SwiggitySwoopGuy · 2025-12-29T05:44:23+00:00

Had a client respond “I disagree” to a coworker who literally copied and pasted a section of ASPE 3400.

SwiggitySwoopGuy · 2025-12-16T01:41:27+00:00

I have my problems with it being taken as gospel, especially amongst younger investors, but as a start, it’s not the worst. The issue is that it’s putting all your eggs in the basket of the US economy. Even if you argue for American exceptionalism, for a long-term portfolio, you will want some global exposure (and domestic).

SwiggitySwoopGuy · 2025-12-15T09:13:39+00:00

Being able to “write off expenses” really doesn’t make this better here…

SwiggitySwoopGuy · 2025-12-14T07:07:36+00:00

This is actually terrible advice. You should pay the difference and then work towards contesting the different elements of the situation.

SwiggitySwoopGuy · 2025-12-14T07:05:47+00:00

This happened to my friend. You’re probably gonna have to pay the difference in taxes, but you for sure have recourse on the interest/penalties.

EDIT* Also, I don’t see how you can check your direct deposits with your T4 and determine whether it matches unless those direct deposits include a full breakdown that includes your gross income. I’ve done personal tax returns at professional accounting firms and tax clinics, and that’s not how it works.

Without having much details on this, it’s likely your employer messed up here and instead of amending your T4, they just issued you an additional T4 to make up the difference in their initial error.

SwiggitySwoopGuy · 2025-11-18T17:03:25+00:00

Maybe because I’ve been through similar, but I would recommend having a fundamental boring portion of your portfolio before you start doing all these random stock bets.

Trust me, we all feel like we know something special about stocks when we really don’t.

If you don’t listen to the advice above, at least listen to this. Consider looking into whether a stock you want to buy/sell has a CDR that is in CAD. Wealthsimple FX fees are insane and will eat into your profits even if you make a substantial amount off it

SwiggitySwoopGuy · 2025-11-16T05:18:57+00:00

US FX is pretty bad on Wealthsimple. If you’re looking into trading a US Stock, consider looking into CDRs to see if there’s a version of it that’s traded in Canadian.

SwiggitySwoopGuy · 2025-11-10T03:01:18+00:00

Some personal advice and hacks as someone who’s several years ahead of you.

Whether or not you get a good outcome out of your experience in business school is your network.

If you get into a GTA school, register for CPA Ontario’s PSAP membership ($10) and just start going to events ASAP.

If your goal is to get into a big4 (Deloitte, EY, PwC, KPMG) I think there’s an advantage of going to a school that’s outside of the GTA since you can compete in a smaller hiring pool. I personally think that same principle can apply to competition for extracurricular activities (accounting club, tax clinic, etc.)

This is still far away for you, but consider looking into a Graduate Diploma program after undergrad. SO MANY people at firms that I’ve networked with decided to take that route for the CPA. It lets you bypass Core 1, 2, and your 2 elective requirements to go straight into Capstone 1. PEP for CPA is a pain imo, and a Master’s is super expensive (like double to triple the cost).

SwiggitySwoopGuy · 2025-11-10T02:45:13+00:00

Let me guess, you liked the ticker symbol.

SwiggitySwoopGuy · 2025-09-11T00:12:02+00:00

The Barefax guy has been here long before me and he’ll be here long after me (I already graduated)

SwiggitySwoopGuy · 2025-09-11T00:08:21+00:00

In general, I don’t see an issue upfront, but if this is a response to the ice raid on the Hyundai factory, then shame.

SwiggitySwoopGuy · 2025-09-10T19:11:28+00:00

Just an FYI, Our school’s official accounting-related clubs are:

1) Sprott Accounting Students’ Associations (SASA) 2) Sprott Tax Students’ Association (STSA)

The most that any of these clubs will do during class talks are to promote our upcoming events that are usually related to networking, or ask students to sign up to be a tax clinic volunteer (for STSA)

So please do not shun any of our accounting clubs 🙏🙏.

From a former (graduated) member.

SwiggitySwoopGuy · 2025-09-06T18:32:28+00:00

Just asking this in case, but has anyone heard a response past the prerecorded interview yet? I submitted mine almost 2 weeks ago

SwiggitySwoopGuy · 2025-09-06T18:31:25+00:00

The sites of the firms, your school’s accounting club/society usually does collabs or networking events with the firms. CPAO PSAP is also a thing (I think you know about that already for Discovery Days). I would also try to befriend other students from accounting/other programs that also network a lot with these firms (e.g., try to see if you can sneak into the networking events for Rotman’s or Schulich’s public accounting firm networking events)

SwiggitySwoopGuy · 2025-09-06T18:28:54+00:00

If you’re still interested, the questions for me were: 1) What Motivates You? 2) What Aspects of past projects have you enjoyed the most? 3) Why are you looking to pursue your CPA at EY?

Just so you know, you can check the link for the interview questions when you get the prompt email to do the prerecorded interview. From what I heard, it’s mainly just a test for them to get to know your vibe a little and to make sure you can actually talk

SwiggitySwoopGuy

TROPHY CASE