Private Tutoring
 

Hey RS, I am looking into tutoring elementary school math. Although I have plenty of experience in tutoring kids on a voluntary/casual basis, I have never charged money, so here is a problem I have never ran into...

I know that parents can get a tax rebate on money spent on tutoring... does it mean that I have to be registered with the government as a business in order for them to get that rebate?

you have to declare that as business (professional) income. you wont have to remit anything unless u make >30k.


more info about professional income - form T2125 =)

Thanks man!

So the only action I need to take is during tax season correct? Other than that would there be anything I need to file for before I take my first "official" student?

i missed a key part- you need a business # !!

you can call it Captain Pickard. i think its like few bucks to register a biz. and your invoices to the parents have to be under the biz name - incase CRA audits them.

and during tax season u fill out T2125 and u are set. make sure u keep good records of income and expenses.

that is all.

haha Captain Pickard's tutoring service :haha:

anyways thanks for your help, I'll try to get something set up once I get the time.