SEO

If i earn money online do I need to claim it on my tax report?

Posted by admin on Oct 24th, 2008
earn money
Guess asked:


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?

8 Responses

  1. #1 Lily

    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.

  2. #2 John's Secret Identity

    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.

  3. #3 Mariposa

    Yes, since it is an income that you earned.

  4. #4 geoff_hazel

    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.

  5. #5 mariagarzasea

    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

  6. #6 Tiberius

    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.

  7. #7 Hot Girl

    Yes of course, you know you can’t get away with anything in this country.

  8. #8 psperron

    first if you have a website and recieved any money two thing may happen
    if your web site is in canada you will be taxes since your internet provider will have to make a information sheet to revenu canada telling them about the money coming in , pay pal and all agencies collecting money with internet secure connection have to contact the local tax office in the usa then irs will contact canada
    also if your website is located on a us carrier the irs may also charge you some taxes
    then also there is the fact that internet payment companies send your money to a bank account and then it become also a tax so check for sure but yes you will have to declare it if you dont and get caught think of this
    the fine will be double what you earn plus interest since the first day also you may also go to jail for a minimum of 7 years for income tax evasion to 25 years in jail plus loose everything else