stainless said:I would like to hear from anyone who is indeed self employed and how much they declare for the taxman.
(damn)wrong hole said:...
also you can't write off payments to hobo's for oral gratification [/B]
If you are incorporating, you have no choice but to hire an accounting professional to do your books - you are not allowed to do it yourself!stainless said:I would like to hear from anyone who is indeed self employed and how much they declare for the taxman. Also any tips or websites to review. You can pm me if you like.
Thanks
Boyscout352 said:See a tax accountant if this is going to be your first time. The accountant can tell you want you can and cannot declare. Accounts tend to make conservative calculations, and can tell you if you are paying too much or too little.
If you underdeclare, you run the risk of being audited. If you overpay, you can reclaim some of the money back, or apply it to your next quarter.
i_am_good said:If you are incorporating, you have no choice but to hire an accounting professional to do your books - you are not allowed to do it yourself!
Hey wrong hole, could not agree more. Everybody has to pay their fair share. If you access universal health care, send your kids to public school, drive on public roads, or utilize public transportation, you are obligated to contribute. I have been self employed for eight years and own an incorperated business. I have no sympathy for people who purposely evade paying taxes and are caught. I've payed penalties on several occasions now, stupidity and/or ignorance on my part, usefull lessons. My advice is find a good accountant, keep every recipt, identify as many tax deductable expenses as possible and have a solid business plan. These are beer induced musing from Dabbler, no liability attached.......wrong hole said:you declare all your income
what does being self-employed got to do with not declaring income