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Thread: Self employed and declaring taxes

  1. #1

    Self employed and declaring taxes

    I would interested to hear from other Merb members on advice, pointers, etc on declaring income for self employed. You can PM if u want.


  2. #2

    Need more details!

    What type of work do you do or plan to do. How do you plan to charge your clients? Is it full time or part time? What type of expenses do you have?
    Do you think you will break even in the first fiscal year of operation? Will you be making under $28,500? You can post or PM me and I will give you more info.

  3. #3
    I'd write my SP's off as a business expense, but they don't like giving receipts.

  4. #4
    Veteran of Misadventures
    Join Date
    Jul 2003

    How is sex with an SP a business expense?

    I never knew that one could get away with this in Canada. In the USA, you would never get this by the IRS.

  5. #5

    I wasn't serious. That would be begging the IRS to audit me. It does, however, help maintain my sanity which is required to effectively function at my job.

  6. #6

    In the 1970's............................

    I heard that in the 1970's some escort services use to give reciepts that were from a florist shop, that way the traveling exec. could deduct it from business expenses explaining that he sent the flowers to a client as a thank you.

  7. #7
    A prestiged re-member Bruce34's Avatar
    Join Date
    Jan 2004

    Post Receipts, receipts, receipts,

    I assume you are from Montreal. You are entitled to 500$ as gift to an employee. And being self-employed you have yourself as an employee, assuming you are an incorporated company. I usually deduct massages as benefits, that is if your executives have agreed to such policy –again that’s you.
    Lastly I deduct, using restaurants receipts when you visit strip clubs as they do give out legit receipts – usually at lunch time. Lastly some escort agencies accept credit cards, that are a trail that you can use as deductions – that is for the purpose of entertaining your clients.
    Make her laugh, make her smile, and do make her moan

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