Do you struggle with your finances when working on different projects and productions? Are you unsure if you should incorporate as a business and/or register for HST? Or do you have a list as long as your arm of financial/tax related questions?
Join us for a talk with Ralph Grunier CPA CA LPA of Young & Grunier LLP, Chartered Professional Accountants, who will be covering all the basics of what you need to know when operating as a freelancer in the industry. A Q&A session will immediately follow the talk.
Topics that will be covered are as follows:
Setting up and running a business. What you can and cannot deduct and what the CRA considers a “business” to be.
Do you need to incorporate or register to be running a business?
Should you incorporate?
Whether you should register for HST.
Filing taxes on time and what should you do if you are late.
Tax credits that are available, both refundable and non-refundable.
Planning strategies within families.
Making sure deductions such as child care expenses are fully utilized.
(Legal) ways to income split.
Tax Free Savings Accounts (TFSA’s).
Registered Retirement Savings Plans (RRSP’s) and Non-Registered Savings Plans (NRSP’s) through the union(s).
Registered Education Savings Plans (RESP’s).
Ralph has been providing accounting services to many within the film/television and fashion industries for years and also guest lectures Acting students at Humber College and at ACTRA. He was formerly on the Advisory Committee to the Toronto Centre for the Promotion of Fashion Design (Toronto Fashion Incubator).
Email any questions to learning@caftcad.com.