Filing your taxes as a self-employed artist, musician, teacher or other industry professional this year? If you're a first-timer, Turbo Tax* has some helpful articles to help you understand many of the basics. You may want to - and we do advise that you - consult an accounting professional for at least the first time you are filing as a self-employed professional. Do your own research also, though, to make sure you aren't missing any eligible deductions - those not working in the music field themselves aren't always aware of all the legitimate costs that we can incur!
Also, double check which income you will receive income tax statements for - such as SOCAN royalties, FACTOR grants and potential other government-reported income. You want to claim these on the right lines, and be sure you aren't also double-claiming this income under your general self-employment line.
The Beginner’s Guide to Self-Employed Taxes
The Complete Guide on Collecting GST/HST for Self-Employed Canadians
*Turbo Tax is just one option that self-employed individuals can use to file their taxes. We aren't endorsing it above any other filing option.
