Oh the taxman. Filing your taxes as a model.

After finishing taxes, its nice to knock back one of these.

We are into May now and with the passing of April comes the inevitable taxes (in Canada at least). At this time of year in university you become excited as the income taxes you paid get returned due to tuition tax credits, right at the time you need them most.

However as those tax credits dry up and you age your refund diminishes, credits are fewer and mom stops taking care of taxes for you. After spending 3 years in the professional field of nutrition, I have taken this hiatus. A hiatus that led me to start this blog and ultimately travel to parts of the world I am not so sure I would have seen otherwise. Fill with joy and excitement, as well as heartbreak and adventure, all experiences I will not take for granted. Chock that one up in the life experience and personal development column.

Back to taxes. 2012 was the first year in my life where the majority of my income was as a model. With the exception of a few thousands bones picked up at the bar over the summer there was no other income. For me this created a different circumstance, one of those unknowns. With no T4 from foreign agencies, expenses up the ying yang for transportation and flights I had to go through the journey of filing my taxes as a model. 

I had to do a lot of google searching and running around to figure out how to write what and where on my tax forms. Much thanks to the online software www.turbotax.ca I was able to file relatively quickly once I knew what I was doing.  Alright here is the rundown:

• -       Income is claimed as  Self-Employed
• -       Record Gross income (including pocket money
• -       Deduct commissions paid as Management fees/costs
• -       Deduct plane tickets and applicable transportation as well travel and transportation
• -       Deduct comp cards, cost of printing pictures, etc. as advertising costs
• -       Industry code is 711500 or 711512 (independent artists)
• -       You cannot deduct rent for example 

Those were the major things I noted as necessary. I had my small amounts of other income from bartending and tips with that, which was very self-explanatory. After all is said and done I ended up owing the government about $25. This is my first time filing this way, and while I did get some advice from an accounting buddy about what I can and can’t claim this is all trial and error. In the end I could very well have messed up (and if I did I will revise). Always be prepared for an audit, keep all receipts and necessary documentation as proof of your income.   

Best of luck and May the 4^th be with you, always.