The Business Chat – online sales

When you have a job, you have to file your income tax return, and your employer also has to file a return with the government (Revenue Canada or the IRS) telling them that they paid you. The government can then match up what your employer reported as your income compared to what you reported as your income. The difference when you are self -employed is that you are reporting your own income and the government doesn’t have anything to match it up with. With self-employment there are a lot of opportunities to “fudge” your income, declaring less than you actually …