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>It is like this in most western countries. No it isn't... In Canada, you can happily accept money from people and just stick it in the "other income" box on y
by parliament32 6y ago
>It is like this in most western countries.
No it isn't... In Canada, you can happily accept money from people and just stick it in the "other income" box on your tax return, where it'll get income-taxed appropriately.
If you're trying to do business deductions or want to pay business taxes instead, yes you need a business. If you're trying to set up a physical location, yes you need a business license from your city. But if you don't care about the pennies and your work is digital there's absolutely no requirement.
- stefanfisk 6y ago"It is like this in most western countries" can still apply even if Canada is an exception.
- lstamour 6y agoGenerally speaking the same is true of “gifts”, though. You don’t have to report a gift as income if it’s reasonable, but drawing that line is where things get... complicated. Then you have to call in specialists like tax lawyers, etc.
- chrisweekly 6y agoIn the US, gifts of up to $15k are untaxed.
- sokoloff 6y agoAre you sure that you’re not operating as a sole proprietor under that set of facts? If I sell something with the intention of making a profit using my own name as the seller, bam, I’m a sole proprietor. If I file a doing-business-as (DBA) form with my city, I can sell under another name and still be a sole proprietor.