HST for Music, Photos, Subcontractors
Freelance Production
Hello, I am a freelance producer and have a project where the full budget comes through my company.
The subcontractors were paid in full including HST for which they submitted invoices to pay on.
I had to purchase pre-produced music and stock photos for which I paid taxes.
My question is when I am submitting HST collected, how do I work with these expenses and such? Thanks!
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If you are using accounting software, the software handles the sales tax for you. All you will need to do is run your sales tax report for the appropriate reporting period.
I chat about how to handle GST/HST if you are using software … and if you are not (i.e. you are doing your books manually) … in this article:
https://www.bookkeeping-essentials.com/how-to-use-quickbooks.html
Once you've read that article, let me know if that answers your questions or you if still have some questions.