How do u file your taxes as a self employed social media influencer

Forum|Forum|3 years ago
February 7, 2023
1 reply
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what are types of expenses to list as well as can i include rent, equipment. do i need any offical documentation from the brands ive worked with and what if i havnt received any?

TurboTaxSusan

As a self-employed person, the Canada Revenue Agency (CRA) doesn’t really care where your income comes from. They are more concerned with your expenses and whether they are legitimate or not. You would need to prove that the expenses you incurred either were needed to make money or were in an attempt to make money. The expenses must also be reasonable, and you must have receipts (or proof of payment).

If you have an expense that you are not sure if you can claim, it’s always best to contact the CRA (1-800-959-8281) and ask them.

LittleBirdie23

I've found this article from Canada Revenue Agency titled "Are you a social media influencer? Here’s what you need to know" https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2021/are-you-so[product key removed]encer-what-to-know.html

Canada Revenue Agency also made this information available as well https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/compliance/platform-economy/so[product key removed]encers.html

I am very confused how to claim the non-monetary. I freelance/social media influence with one company at the moment, I create content for them and in exchange they have sent me their products instead of a monetary compensation.

They've recently started sending me the shipping tracking number for their products being sent to me.

How am I suppose to claim this to CRA?? So Far I've added the tracking shipping email as a PDF in my accounting software. Is that what I am suppose to do?

TurboTaxSusan

The value of the non-monetary payment you have received is the fair market value of the goods or service you've provided in return. So, you can look at whatever you would normally get for making content when you are paid in cash to determine what the value of the non-monetary items are.