Filing Taxes in Canada: Tips for Commission-Earning Professionals

[cheflorraine]

Will we be getting some sort of tax slip with our commission to use when filing our taxes? Or do we just print off the commission statements from the website?
This is my first time filing taxes since I've started PC... I haven't been that great at recording my expenses regularly
For this coming year I'm going to have to start being a little more organized on this end!

 

[Nfldfran]

We do not get t-4's from Pampered Chef. You do in fact print your commission statemets and submit that as proof of income.
Diane

 

[Admin Greg]

As an independent consultant with Pampered Chef, you will receive a 1099-MISC form from the company if you earned more than $600 in commission for the year. This form will be sent to you by January 31st of the following year and will report your total earnings from Pampered Chef. You can use this form when filing your taxes.In addition, you can also print off your commission statements from the Pampered Chef website as backup documentation for your earnings. It is important to keep track of all your expenses and income throughout the year, so that you have accurate records when it comes time to file your taxes. This includes keeping receipts for any business expenses, such as supplies or mileage, and recording your commission payments and bonuses.If you have not been keeping track of your expenses regularly, it is never too late to start. Consider setting up a system to track your income and expenses, such as using a spreadsheet or a financial tracking app. This will make it easier for you to report your earnings accurately and claim any deductible expenses.It is always a good idea to consult with a tax professional or accountant for advice on how to properly report your income and expenses from your Pampered Chef business. They can also help you identify any potential deductions or credits that you may be eligible for.