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Taxes (pg. 2)
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| jchung52 |
| Doing them now. Such a pain with regular day job plus DJ income and school. Thanks for the reminder |
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| VDub |
Getting my return monday...
Aaaaand it'll go right on the Visa...
Easy come easy go... |
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| jon jon |
| quote: | Originally posted by StereoPrincess
when are they due?
i always forget. |
april 30 |
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| FunkyCrew |
| quote: | Originally posted by VDub
Getting my return monday...
Aaaaand it'll go right on the Visa...
Easy come easy go... |
putting mine back into my savings account - I owe myself a bit :) |
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| cammaxwell |
| quote: | Originally posted by jchung52
Doing them now. Such a pain with regular day job plus DJ income and school. Thanks for the reminder |
I hope you're treating the Djing as a business, becuase you can write off lots of expenses such as buying tracks, DJ/studio equipment, and even the space you use in your house. Don't pay any tax on DJ income unless you made more than you spent on it (we both know it can be expensive!). |
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| Adamo |
| got my return last week. |
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| FunkyCrew |
| quote: | Originally posted by cammaxwell
I hope you're treating the Djing as a business, becuase you can write off lots of expenses such as buying tracks, DJ/studio equipment, and even the space you use in your house. Don't pay any tax on DJ income unless you made more than you spent on it (we both know it can be expensive!). |
do you guys get T4s from every place you Dj'ed at? |
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| cammaxwell |
| quote: | Originally posted by FunkyCrew
do you guys get T4s from every place you Dj'ed at? |
lol....no, it's up to us to claim it. It's a cash business as a local, only the Guv pays by check. |
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| Nrg2Nfinit |
| quote: | Originally posted by jester
Accountant did it lol
Can't wait to put some money into my TFSA :D |
you don't need to wait for your accountant for that. the limit is 5000 per year. you could have contributed to your 2010 portion in january. If you havent contributed at all you can contribute a total of 15,000$. |
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| FunkyCrew |
| quote: | Originally posted by cammaxwell
lol....no, it's up to us to claim it. It's a cash business as a local, only the Guv pays by check. |
so you have 0 receipts for those gigs? aren't you worried you'll be audited? My roomie is self-employed, writes off a crapload of stuff (but she does tries to get T4s from all production companies she works with, which is sometimes 3-4 a month)
she got audited - got a notice for $700 outstanding she had to pay before Jan 01
| quote: | Originally posted by Nrg2Nfinit
you don't need to wait for your accountant for that. the limit is 5000 per year. you could have contributed to your 2010 portion in january. If you havent contributed at all you can contribute a total of 15,000$. |
that is correct actually
this year I got the TFSA GIC instead of a savings account - a bit of a better rate |
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| Carney |
| quote: | Originally posted by Reza
No need to worry, my accountant handles that
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lol |
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| VDub |
| quote: | Originally posted by cammaxwell
lol....no, it's up to us to claim it. It's a cash business as a local, only the Guv pays by check. |
Are the clubs declaring the money that they're paying you if it's cash?? |
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