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Tax Smarts for Side Hustles: What Ontario Creators Should Know

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Manage episode 518031988 series 3670011
Content provided by Made In Canada. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Made In Canada or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Balancing a full‑time job and a side hustle? Don’t let taxes surprise you. In this episode, we break down how income from a side gig gets taxed in Ontario, the differences between operating as a sole proprietor vs. incorporating, and which deductions you can claim—from home office and vehicle expenses to meals and supplies. We also cover when you’ll need to register for HST, how to manage taxes across multiple income streams, and tips to stay compliant without stress. Whether you’re turning your passion into profit or just experimenting with extra income, this episode helps you make smart financial decisions from the start.

🎧 Connect with Ontario Business Central
Start or grow your business with support you can trust. Visit us anytime at ontariobusinesscentral.ca

📞 Call us at 416‑599‑9009 or 1‑800‑280‑1913
📝 Explore more tips and tools on our blog: blog.ontariobusinesscentral.ca

  continue reading

11 episodes

Artwork
iconShare
 
Manage episode 518031988 series 3670011
Content provided by Made In Canada. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Made In Canada or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Balancing a full‑time job and a side hustle? Don’t let taxes surprise you. In this episode, we break down how income from a side gig gets taxed in Ontario, the differences between operating as a sole proprietor vs. incorporating, and which deductions you can claim—from home office and vehicle expenses to meals and supplies. We also cover when you’ll need to register for HST, how to manage taxes across multiple income streams, and tips to stay compliant without stress. Whether you’re turning your passion into profit or just experimenting with extra income, this episode helps you make smart financial decisions from the start.

🎧 Connect with Ontario Business Central
Start or grow your business with support you can trust. Visit us anytime at ontariobusinesscentral.ca

📞 Call us at 416‑599‑9009 or 1‑800‑280‑1913
📝 Explore more tips and tools on our blog: blog.ontariobusinesscentral.ca

  continue reading

11 episodes

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