freelancing as software programmer

[cinvest2021]

Hello,

I am a new PR and intend to take on some software dev. works via freelancing platform.

Can I start straight away? I will declare my income (client bills) with tax return reporting and this is it?

Is it correct?

Do I need to have a business bank account or is personal bank account fine?

Do I need to set up a Paypal business account or is personal Paypal ok?

Thanks
Regards

 

[jclarke99]

I will soon be in a similar situation as you, and I found the following link helpful....

https://diaryofatorontogirl.com/2019/03/18/canadian-income-taxes-freelancer/

 

[cinvest2021]

I will soon be in a similar situation as you, and I found the following link helpful....

https://diaryofatorontogirl.com/2019/03/18/canadian-income-taxes-freelancer/

This is an excellent source of information. I appreciate very much that you've shared it.
Thank you

 

[nishant.t]

Hello,

I am a new PR and intend to take on some software dev. works via freelancing platform.

Can I start straight away? I will declare my income (client bills) with tax return reporting and this is it?

Is it correct?

Do I need to have a business bank account or is personal bank account fine?

Do I need to set up a Paypal business account or is personal Paypal ok?

Thanks
Regards

You need have your file prepared very professionally with all the documents in place. What documents exactly do you have with you right now?

 

[cinvest2021]

- I only have prepared an invoice model (I did not have started yet billing client)
- Of course I do have my bank account details, but that is personal account

Can you clarify what do you mean by very professionnally?
Thank you