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| *Ostroff, Fair and Company>>>Canada Taxes |
If i earn money online do I need to claim it on my tax report? |
If i earn money online (from my own website) do I need to claim it on my tax report (I'm in Canada)? 'Cause if I don't claim it, there's no way for them to find out how much (if any) I earned, right? Any income earned should be reported IF you want to do it legally/ethically/properly. If you do not declare it but get caught later you have to pay not only the taxes but a fine. Are your customers mailing you cash? No, of course they're not, and of course the government will be able to find out how much you earned. Yes, since it is an income that you earned. You may or may not NEED to claim it, but you may WANT to. Why? Because when you go to apply for a loan, they want to see your INCOME and that is verified by your tax returns. If you want this income included in the loan decision, you'll need it documented on your tax return. yes any place as paypal, plunderhere, ebay, any place have to have a form for every month your income is come to you and you have to present in the 199 C FORM have a nice Holidays you said 'do i NEED to claim it'........NO, like you said, it's from your website and they have no way of knowing.......((word to the wise -- just do not tell anyone that you did not claim it, there are snitches everywhere !!!!!!!!) now, do you 'have' to claim it.....yes, you legally have to claim any INCOME on your canadian return. you connect the dots and make your own decision. Yes of course, you know you can't get away with anything in this country. |
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