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Is this considered Tax Fraud?

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  • #16
    ok so she might work for Re-Max or somewhere to that effect. Real estate agents should get a decent commission on the sale - even 2% of 400,000K can be 8K. I would ask her if she is incorporated and if so, ask for her corporate income statement and balance sheet.

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    • #17
      She's in new home sales, so she works for a specific builder if that makes a difference.

      So you would recommend that I need to further investigate this then. What would I be looking for? and if she is not incorporated...what would be your conclusion

      Originally posted by Desperate_Dad View Post
      ok so she might work for Re-Max or somewhere to that effect. Real estate agents should get a decent commission on the sale - even 2% of 400,000K can be 8K. I would ask her if she is incorporated and if so, ask for her corporate income statement and balance sheet.

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      • #18
        I would ask for for an explanation of the commission receipts and why only a small fraction of that appears on her tax return.

        The commission can seem large but there are expenses she can write off of that being a real estate agent.

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        • #19
          Only legit possibility I can imagine is perhaps (as somebody suggested) her income is being run through an incorporated business and the line 101 income represents the T4 she has issued herself from the corp. I believe if she has an incorporated business she may also need to provide financials for that biz. I have certainly provided them on many occasions for clients' matrimonial purposes.

          OP indicated she provided a copy of the "filed tax return". Was is a copy of a return or Notice of Assessment?? What you want is BOTH of those that match.

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