ARTISTvincent
Employee or self-employed worker?
An artist has three choices in forming a business entity: 1) a sole-proprietorship, 2) a limited-liability (LLC) partnership or 3) a corporation.
You must start reporting your income and can start deducting your expenses when your business starts.
We look at each case on its own merits. Generally, we consider your business to have started whenever you begin some significant activity that is a regular part of the business or that is necessary to get the business going.
Report business income and expenses
To report business or professional income and expenses, we encourage you to use Form T2125.
We also accept this information on other types of financial statements.
Form T2125 can also be used to report business income and expenses from self-employed commission sales.
If you decide to change your method of reporting income from the accrual method to the cash method,
use the cash method when you file your next income tax return.
Make sure you include a statement that shows each adjustment made to your income and expenses because of the difference in methods.
By email: vincefds@hotmail.com
By visiting this page on our website: (http://www.vincza.com /contact.html)
Contact
+1 (123) 444-4444
(TxT) +1 (647)949-5655
Address: Scarborough,Toronto,Ont.Canada
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