The Business of Writing: Taxes for Literary Artists

Okanagan College - Room 143 May 21, 2017 12:30 pm -

A detailed seminar

  • Writers who already obtain income through print-based publishers, e-publishing, other self-publishing, grants or other payments, should have sorted themselves out regarding taxation
  • Those writers who are just starting down this path need to be armed with knowledge of their obligations to the Canada Revenue Agency (CRA), or there will be pain in their future
  • You Are A Professional
  • If you are a writer “with the expectation of a profit”, as the CRA calls it, you are a professional – IT-504r2, para. 5
  • Taxes are applied to professional writers in the same way as to a person who starts a business as a sole proprietor – you will report your income on your personal tax form, with a few additions
  • T2125 – Professional income
  • Deductions: home-office; computer; editing; illustrations; printing; research; professional development; vehicle…
  • Donations; gifts; grants; contracts

George Opacic