Accountant needed

Creole Lady Marmalade

No more reviews, please.
Dec 20, 2004
1,468
2
0
Service Provider in need of an experienced accountant:
must be:
-professional-no service bartering please
-familiar with service provider self-employment with at least 3+years experience
-have references from 2+ providers (must be able to prove it)
-very discreet
Please email or PM your contact info to set up an interview.

Only individuals meeting all the requirements will be contacted.
 

dragonfly

The Travelling Member
Jul 20, 2003
141
0
0
Vancouver
I think you should approach this subject differently. First of all, what is the scope of work require. If if is complex, you should consider an accountant in public practice.

Any designated accountant in public practice are require to maintain client confidentiality. i.e. cannot disclose your information unless in the unlikely event that it is ordered by a court of law.

I'm not interested in your offer, but pm me if you need help.
 

noneasgood

Banned
Jul 8, 2005
343
0
0
DaPup said:
You are correct. However I sincerely doubt an escort would file for a GST number (even if revenues exceed $30K). Sorry, I just can't see an escort filing quarterly GST returns, especially if they have time management challenges to overcome. Unless the escort can command a high rate and do so successfully year after year, a GST return would not be feasible.
Well two things, firstly they may be except if it's a 'health service'. Doctors and the like, don't file GST returns because they are exempt. Secondly, whether or not they file GST returns is independent of whether or not they are SUPPOSE to file GST returns. If you are required to file, there is no opting out provision. Where they might be able to get you on a GST audit is if they cross reference your tax return with the GST department and discover your income is in excess of 30K. And thirdly you don't have to file quarterly you could probably file annually. Believe or not, it's an interesting question. The tax department isn't going to actually care what type of income this is, they just want their cut if they think they are entitled to it. I'm actually curious enough to look into this issue. I would think that if you were to say you were a message therapist you would likely be exempt from GST, but certainly care is required when stating your occupation.
 

noneasgood

Banned
Jul 8, 2005
343
0
0
DaPup said:
all good and true...with respect to your first sentence then, an escort should file under personal "health service provider" just to be exempt from GST (if this is possible). LOL, there's gonna be a lot of massage therapists out there! :p

but the fact remains that the money earned from the escort business is mainly "under the table". the fact that the escort "should" comply with tax laws does not mean that he/she WILL. under reporting one's revenue is also possible (and of course highly illegal). i do not believe that every single escort does their income tax return properly, or pay their share of taxes. i agree with what you are trying to say here, but it is difficult to prove that an escort actually made X dollars because there is no paper trail (unless the escort actually logs the client and keeps track of revenue). as long as the escort's income tax filing is fairly consistent from year to year without any large "swings" that would raise warning bells at Revenue Canada, their return gets buried along with the rest of us.

but back to the original point: if the escort does make over $30K in revenue, it would in fact be better that the escort be either incorporated or proprietorship. Anything to put the escort into a lower tax bracket is preferable. In either scenario, GST would be due and payable (unless the escort is exempt due to being a health service provider as you mentioned). if GST is payable, it would be in the escort's best interest to file quarterly (IMHO). Annual filing, while allowable by Revenue Canada, may cause some problems for escorts with poor cash management abilities. Being stuck with a large GST bill at the end of year will financially "kill" some SPs. Paying quarterly may be the only option for them to budget for the quarterly pmt. My 2 cents.
Whether they file annually or quarterly is pretty much immaterial to the discussion. There's pro's and con's for either.

Annually as you pointed out you have the issue of whether or not the funds are available as the money may be spend. But quarterly requires more discipline in ensuring your paperwork is done in a timely manner, otherwise you're just going to have the GST department chase you for late returns.

The other option is to pay instalments and then file annually.

But the best option is to try and avoid the issue entirely.

As to being incorporated or not, since you correctly pointed out that only a portion of the income is likely to ever be claimed I don't see the point of incorporating unless that particular portion is subtantial ~ 80K or more after expenses. Below that one can maximize their RRSP contributions and be in about the same situation.
 

noneasgood

Banned
Jul 8, 2005
343
0
0
DaPup said:
i agree. gee, that's about wraps this discussion! LOL! :D

Ya, I'm sure we're about the only two on this site who give a damn about this topic. lol
 

dragonfly

The Travelling Member
Jul 20, 2003
141
0
0
Vancouver
DaPup said:
what dragonfly said...i don't do personal taxes, leave that for your chartered accountant. but if you want to get a good grip on your revenue and expenses (ie: bookkeeping), PM me (yes, i'm an accountant). i'm willing to help you out.
What I said was, I am not in public accounting, and do not want to get involve in it, and especially do not want to do bookkeeping. I am however willing to answer some general questions.

As to the question of GST, escort service is definitely a taxable service. The excise tax act and related regulations are very specific as to what is exempt or zero rated, escorting is not one of them.

As to the question of whether escorts are required to file GST, they do if their revenue exceed $30,000 per annum. However, being a GST registrant allows one to claim Input Tax Credit on expenses incurred to earn taxable revenue to offset GST payable. Thus, there might be financial sense to become a GST registrant even if revenue is under the threshold.
 

noneasgood

Banned
Jul 8, 2005
343
0
0
dragonfly said:
What I said was, I am not in public accounting, and do not want to get involve in it, and especially do not want to do bookkeeping. I am however willing to answer some general questions.

As to the question of GST, escort service is definitely a taxable service. The excise tax act and related regulations are very specific as to what is exempt or zero rated, escorting is not one of them.

As to the question of whether escorts are required to file GST, they do if their revenue exceed $30,000 per annum. However, being a GST registrant allows one to claim Input Tax Credit on expenses incurred to earn taxable revenue to offset GST payable. Thus, there might be financial sense to become a GST registrant even if revenue is under the threshold.
Nobody was suggesting that escort services would be able to avoid GST, what we were attempting to do was find a creative way to avoid the GST under the assumption that most escorts will not honestly list their true occupation. (or their income for that matter) The actual rules around this are straight forward, although I don't know why an SP would voluntarily apply for a GST number given that they have minimal GST inputs credits. Truth is they'd likely be better off using the quick method. But you are right, there really isn't much, if any, option to avoid having to pay the GST. But we were just trying to have a little fun with it.
 
Last edited:

pooner144

Member
Aug 24, 2004
230
0
16
well hey... I enjoy doing bookkeeping, and if there's some help needed I'd be happy to as I'm presently doing bookkeeping for an internet porn company. Feel free to PM for more info if you like.
 

Eden

Banned
Jul 27, 2004
366
0
0
watching from the sidelines
Wow

I know where I am going if I need any tax help!! The funny thing is I read the whole discussion, man I must be lonely! lmao

You guys are too cute!
 

Annalise Lane

sport sex enthusiast
Feb 2, 2005
1,898
8
38
Edmonton, Alberta
www.annaliselane.com
noneasgood said:
Nobody was suggesting that escort services would be able to avoid GST, what we were attempting to do was find a creative way to avoid the GST under the assumption that most escorts will not honestly list their true occupation. (or their income for that matter) The actual rules around this are straight forward, although I don't know why an SP would voluntarily apply for a GST number given that they have minimal GST inputs credits. Truth is they'd likely be better off using the quick method. But you are right, there really isn't much, if any, option to avoid having to pay the GST. But we were just trying to have a little fun with it.
We do have GST credit avaiable because everything we buy related to the sex industry adds GST, and why not get it back.

The GST forms are fairly staight forward, and the check comes in the mail.... What more can a gal ask for ?
 

noneasgood

Banned
Jul 8, 2005
343
0
0
Annalise Lane said:
We do have GST credit avaiable because everything we buy related to the sex industry adds GST, and why not get it back.

The GST forms are fairly staight forward, and the check comes in the mail.... What more can a gal ask for ?
Because you have to claim the income and it's very doubtful it the expenses would exceed the income, meaning you should be writing cheques, not getting refunds. If you are getting refunds and not claiming the income you are technically committing GST fraud.
 

Annalise Lane

sport sex enthusiast
Feb 2, 2005
1,898
8
38
Edmonton, Alberta
www.annaliselane.com
noneasgood said:
Because you have to claim the income and it's very doubtful it the expenses would exceed the income, meaning you should be writing cheques, not getting refunds. If you are getting refunds and not claiming the income you are technically committing GST fraud.
you're right....

But when there is start up costs related to opening a business the income is less, and the out put of investment is higher. Typically this is only for the first 3 to 6 months.

In the Escort industry this is lower then starting a flower shop, but there is some GST credits available.

It also helps with taxes at the end of the year....
 

Creole Lady Marmalade

No more reviews, please.
Dec 20, 2004
1,468
2
0
Got a couple!

Thanks to everyone who as applied. I've found a couple of accountants best suited for my needs.

Please do not send anymore emails or PMs regarding the position.
 
Ashley Madison
Vancouver Escorts