Re:I Just Hit $100k/year On GitHub Sponsors
by stefanfisk on Tuesday June 23, 2020 @03:28PM
(#23619010)
"It is like this in most western countries" can still apply even if Canada is an exception.
Re:I Just Hit $100k/year On GitHub Sponsors
by lstamour on Tuesday June 23, 2020 @04:09PM
(#23619563)
Generally speaking the same is true of “gifts”, though. You don’t have to report a gift as income if it’s reasonable, but drawing that line is where things get... complicated. Then you have to call in specialists like tax lawyers, etc.
Re:I Just Hit $100k/year On GitHub Sponsors
by chrisweekly on Tuesday June 23, 2020 @09:55PM
(#23623044)
In the US, gifts of up to $15k are untaxed.
Re:I Just Hit $100k/year On GitHub Sponsors
by sokoloff on Wednesday June 24, 2020 @07:35AM
(#23626694)
Are you sure that you’re not operating as a sole proprietor under that set of facts? If I sell something with the intention of making a profit using my own name as the seller, bam, I’m a sole proprietor. If I file a doing-business-as (DBA) form with my city, I can sell under another name and still be a sole proprietor.
No it isn't... In Canada, you can happily accept money from people and just stick it in the "other income" box on your tax return, where it'll get income-taxed appropriately.
If you're trying to do business deductions or want to pay business taxes instead, yes you need a business. If you're trying to set up a physical location, yes you need a business license from your city. But if you don't care about the pennies and your work is digital there's absolutely no requirement.