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hdrporn
01-30-2002, 02:49 PM
I need advice from canadian webmasters. How do you manage your taxes? Do you declare everything you make? Any tricks to pay the less possible? Lots of people tell me many webmasters moved to canada to avoid taxes but also heard of scary stories about webmasters getting caught. So I'd appreciate any info you might have on this. And if someone has any info on how to handle provincial taxes on porn revenue for quebec I'd appreciate also. Or just a website, anything, i need to inform myself on this one.

Thanks,

Mart
The Professional
01-30-2002, 04:34 PM
you have to declare everything you made... but you are home employed... so you can write off certain things on your taxes...

be smart and just pay them.... you dont' want to end up on the front cover ofyour newspaper :D

just my 2 cents
quotealex
01-30-2002, 04:41 PM
Once you deduct all your related expenses (content, softwares/scripts, hosting, phone, electricity and heating bills, rentals, papers, legal and accountancy fees, etc.) and contributed your maximum RRSP contribution, chances is that you won't have to pay any taxes for your smut business.
bitz
01-30-2002, 05:00 PM
make sure ya have your recipts dont want to get audited :)
bitz
01-30-2002, 05:03 PM
receipts*
nakadoo
01-31-2002, 07:23 AM
Ninja Mart

US webmasters would not move here to save taxes. Maybe employee expenses etc. but never taxes. The US has it made compared to our tax system. Our corporate tax is 26% and my personal income tax is 55%. We should all be moving to the US to save taxes.


My advice...

Get an accountant and don't take tax advice from the boards.

Our company is in Canada and we pay a shitload of tax. If you make profits in this country you will pay taxes.

Most Canadians think they can get away with not declaring their US income but the Gov't always catches up with you. The IRS reports to Revenue Canada and Vice Versa. It may take them 10 years but they will show up and seize everything.

I sleep very well at night knowing my accountant is looking after my business and that my taxes are paid in full.
quotealex
01-31-2002, 01:32 PM
Lol. After counsulting with a fiscalist, I found I was paying way more taxes than I had to thanks to my dear accountant.

Accountant are good for book-keeping, not so good for fiscal taxes.

Originally posted by Brad Gosse:
<STRONG>Ninja Mart
I sleep very well at night knowing my accountant is looking after my business and that my taxes are paid in full.</STRONG>
WiredGuy
01-31-2002, 02:03 PM
Well, the beauty of the operation we have here is that we collect revenues from US companies and most of our expenses are in Canada (hosting, advertising). So we get 100% of our GST paid returned at the end of the year. You do have to report every penny you earn though but if your earning nice bills, setup a corporation. The first $200k is under small business deductions and is under 30% in taxes. You can also do some fun stuff with corporations and your accountant will find places to save you dough.

WG
cammm
01-31-2002, 10:32 PM
ummm... is there such thing as you pay taxes only after you earned more then $10,000 a year ? and if less you dont pay taxes ?
evildick
02-01-2002, 12:14 AM
Cammm, you still have to report all income earned, even if you don't earn enough to have to pay tax.
WiredGuy
02-01-2002, 10:07 AM
Cammm, under personal taxes if you earn under $7000, you keep everything. But you still need to report it.

WG
cammm
02-01-2002, 11:33 AM
what will happen if i wont report it ? is it 100% that they will ask me to pay one day ?
quotealex
02-01-2002, 11:54 AM
It more than 100% you'll have to pay. You forgot all those penalties. If you're lucky, it will only be the added interest rate since the taxes should have been paid. Taxes evasion is a criminal act in Canada, and you may end-up with Big Bubba as a cellmate. :)

Originally posted by cammm:
<STRONG>what will happen if i wont report it ? is it 100% that they will ask me to pay one day ?</STRONG>
cammm
02-02-2002, 12:21 PM
fuck, but i dont have all the receipts from all the sponsor... I made over $30g's but how would I know the exact number ? Can it be approx. ?
manga
02-02-2002, 01:27 PM
Originally posted by cammm:
<STRONG>fuck, but i dont have all the receipts from all the sponsor... I made over $30g's but how would I know the exact number ? Can it be approx. ?</STRONG>

It can be anything you want. The only time you're going to have to prove anything is if you get audited. You are required to keep your receipts for 7 years. If you get audited and you don't have receipts, then you can easily end up paying big brother more than you had to i.e. no lube.