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Thread: Anyone know a cash friendly accountant in Ontario?

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    Default Anyone know a cash friendly accountant in Ontario?

    Preferably SW. I was going to say I was a model this year.

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    Featured Member SuperJa's Avatar
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    Default Re: Anyone know a cash friendly accountant in Ontario?

    Quote Originally Posted by bananaqueen View Post
    Preferably SW. I was going to say I was a model this year.
    Just say you're a stripper. There's a bunch of writeoffs you won't get if you claim to be a model. Your accountant and the CRA don't care what you do, they just want to get paid.

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    Default Re: Anyone know a cash friendly accountant in Ontario?

    Do you have a separate bank account and record *some* of your earnings?

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    Default Re: Anyone know a cash friendly accountant in Ontario?

    Quote Originally Posted by bananaqueen View Post
    Do you have a separate bank account and record *some* of your earnings?
    I tend to claim the vast majority of it, and just use my write-offs. In Canada it's pretty generous- anything remotely related to the job you can claim- i.e. hair, nails, makeup, travel, outfits, house fees, cosmetic procedures, the accounting services themselves... your first couple years dancing as well there's some small business tax credits you'll likely be eligible for.

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    Default Re: Anyone know a cash friendly accountant in Ontario?

    Quote Originally Posted by SuperJa View Post
    I tend to claim the vast majority of it, and just use my write-offs. In Canada it's pretty generous- anything remotely related to the job you can claim- i.e. hair, nails, makeup, travel, outfits, house fees, cosmetic procedures, the accounting services themselves... your first couple years dancing as well there's some small business tax credits you'll likely be eligible for.
    thats amazing! do you have a special way of organizing your expenses and income?

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    Default Re: Anyone know a cash friendly accountant in Ontario?

    Quote Originally Posted by bananaqueen View Post
    thats amazing! do you have a special way of organizing your expenses and income?
    I keep all my receipts- i got a box with sections so they're somewhat organized- i.e. hair/nails etc in one section, vehicle expenses in another, invoices from online purchases in another

    For sites online that keep track of purchases i'll just print it off once a year- sephora and etsy for example keep everything online, so i don't have to save every receipt, i can just print them off once a year and take them to the accountant.

    If something is a writeoff too I always make sure to debit it so if I somehow lose the receipt/it fades I still have it on a bank statement.

    For income I just write it down after each shift, and also make regular bank deposits. Every girl kinda has her own system, some are super organized with excel spreadsheets, some don't track anything, you'll figure out something that works for you.

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    Default Re: Anyone know a cash friendly accountant in Ontario?

    Quote Originally Posted by SuperJa View Post
    I keep all my receipts- i got a box with sections so they're somewhat organized- i.e. hair/nails etc in one section, vehicle expenses in another, invoices from online purchases in another

    For sites online that keep track of purchases i'll just print it off once a year- sephora and etsy for example keep everything online, so i don't have to save every receipt, i can just print them off once a year and take them to the accountant.

    If something is a writeoff too I always make sure to debit it so if I somehow lose the receipt/it fades I still have it on a bank statement.

    For income I just write it down after each shift, and also make regular bank deposits. Every girl kinda has her own system, some are super organized with excel spreadsheets, some don't track anything, you'll figure out something that works for you.
    thank you! is there a grand list somewhere of all the things that write offs in this industry?

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    Default Re: Anyone know a cash friendly accountant in Ontario?

    Quote Originally Posted by bananaqueen View Post
    thank you! is there a grand list somewhere of all the things that write offs in this industry?
    Unfortunately no, but the rule of thumb in Canada is if it's something you spent money on because of the job, you can probably write it off.
    Your kms driving to and from work, gas, vehicle maintenance, % of insurance on the vehicle (i.e. if 30% of your vehicle use is work related, you can claim that).
    Food, travel expenses, and accommodations while traveling.
    Outfits, hair, nails, makeup, shoes, cosmetic procedures (if over $500 they can be used as multi-year write offs), any classes you take as personal development (i.e. if you took a pole or contortion class, or a sales course)
    Any fees you might pay- these include house fees, licenses, agent fees, etc.
    If you use your phone to contact clubs or agents, a percentage of your phone bill can be written off.
    I also include any gym membership fees paid while traveling, and some (but not all) of my massages, accupuncture, chiro. It's not technically a listed write-off but my accountant puts that in the personal development category, the argument being I would'nt be spending hundreds a month on them if I wasn't swinging around a pole for a living.

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    Default Re: Anyone know a cash friendly accountant in Ontario?

    amazing! do you usually get a return?

    so for cosmetic procedures, does that include boobs??!

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    Default Re: Anyone know a cash friendly accountant in Ontario?

    Quote Originally Posted by bananaqueen View Post
    amazing! do you usually get a return?

    so for cosmetic procedures, does that include boobs??!
    It depends on the year- I've had everything from getting a bit back to owing a few k, but nothing outrageous, and I do dance full time.

    Yeah in Canada a boob job is deductible. Not like in the states where it has to be cartoonishly large to count.

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    Default Re: Anyone know a cash friendly accountant in Ontario?

    The tax rules change every year .

    www.loosechange.ca , www.taxmaam.ca

    I don't dance, but I do webcam going on 16 years.

    You don't have to do it yourself but you do need a basic knowledge of how you want it set up.

    I personal file my income from webcam and then I am setting up myself as Incorporated for what I earn in trading in forex and probably my affiliate commissions. It keeps thing simple for me and I can take advantage of the tax benefits of being incorporated and my keep my personal income to where I can take advantage of the benefits. but it took years to get to this level of having a system of how I want to file my taxes that fits my lifestyle and can adjust and grow as things change.
    Skype - MinnieRileyX

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