Re: Canadian Tax Question
Here is the Canada Revenue Agency website:
http://www.cra-arc.gc.ca/menu-e.html
this is a good place to start.
hb
Re: Canadian Tax Question
Independent Artist. There's a numerical code (I'm not doing my taxes for another month or so, but can post it then). I use ufile too...there's a place to put in the number.
...sorry I can't be of specific help at this point.
Nope, Canadian deductions aren't subject to the housewife test! If you use it/need it for work, deduct it. :D
You can deduct some of your living space as home office as well. I do 8%, calculating room for costume storage and admin stuff.
Re: Canadian Tax Question
Do yourself a favour and get an accountant's help the first time. You can get yourself into trouble by filing it correctly (honestly), but not correctly for your circumstance... it could end you in a heap where CRA wants you to collect GST, etc... Not worth the headache to do it on your own unless you know how.
Re: Canadian Tax Question
Hello
Anubody know any accountant in the GTA, that has done this kind of tax returns for dancers?
Ty
Re: Canadian Tax Question
PS- if i knew there was another SW handle similar to mine, i woulda picked something more unique... sorry. hope it doesn't confuse anyone... :-\
Re: Canadian Tax Question
^^ No worries. There are so many members it would be pretty hard to find something totally unique.
Now for a hypothetical situation... Let's say a dancer (also student) made significant income in 2007 without her parents knowing about it or what she does. Now it is time to file taxes and they are looking after the family return like always. Is there any way this dancer could file a seperate return in addition to the family return to take care of the dancing income? Or would she have to tell the family about the income??
Thanks!
Re: Canadian Tax Question
Re: Canadian Tax Question
hypothetically, what would happen if said hypothetical dancer just came clean with her parents about the income and it's source?
hb
Re: Canadian Tax Question
Dancer needs to start declaring independently, or come up with a really good cover for the money made, and pray she made less than 30k for the year.
Re: Canadian Tax Question
Thanks for the help everyone. I have been without a computer lately and SW at the Library just didn't seem lik a good idea.
Told the parents about the money so now I am free to do my own stuff. Also dealing with that backlash but it had to happen someday I guess.
I am going to see an account that a girl form work recommended to me. I may post an odd question in here from time to time.
Thanks Again!
Re: Canadian Tax Question
Quote:
Originally Posted by
xxambyrrxx
Thanks for the help everyone. I have been without a computer lately and SW at the Library just didn't seem lik a good idea.
Told the parents about the money so now I am free to do my own stuff. Also dealing with that backlash but it had to happen someday I guess.
I am going to see an account that a girl form work recommended to me. I may post an odd question in here from time to time.
Thanks Again!
Congratulations ambyrr, I think you did the right thing telling your parents, and getting professional help right from the start is very smart. good luck !
hb
Re: Canadian Tax Question
Quote:
Originally Posted by
xxambyrrxx
From what I have read online I am supposed to claim my dancer income as an 'independant artist' or a 'self employed artist'. I am just wonering where I actually put this info on my return. I am using
www.ufile.ca and I don't see this anywhere in the interview. Do I just enter it as "other taxable income" with independant artist as the memo or what? Do I need another version of the program to do this properly?
K, it's in front of me now- the 6 digit code is 711510 (Independent Artist), there is a box that speciically requests it on page 1 of the "Self-Employment Income: Business" page.
(posted for other people who might inquire ;))
Re: Canadian Tax Question
Thanks again and again x 1 million!!
I am now just wondering about business expenses. I have calculated how much I have spent on : Costumes, Tanning, Nails, Makeup. Do I enter this in the "supplies" category or should I make a special note of what each thing is?
Also we pay a $10 SOCAN fee each night as well as a $5 tip for the DJ. Where would these go?
And lastly, I take cabs to and from work each night. I am I right in assuming this travel is not deductible because it is to my regular workplace??
Re: Canadian Tax Question
Cosmetics and costumes under supplies, yes.
I put SOCAN under 'professional dues' and DJ tips under 'management and admin fees'; I don't think it matters all that much how they are labelled, as they are both 100% deductible. I've never had trouble with those designations, anyways.
Cabs to and from work...I don't know. They should be at least partially deductible, since fuel costs for your own car would be, and transit costs are. But you'll have to get that answer elsewhere...