Entrepreneurship & Small Business

If I have a company, can I still freelance?

  • Last Updated:
  • Aug 26th, 2014 11:21 pm
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[OP]
Sr. Member
Aug 22, 2010
889 posts
74 upvotes

If I have a company, can I still freelance?

I currently own a sole-proprietorship. Can I still pick up freelance work and not have it run through my company, even though it's for the type of work my company does? And I can't run this under the table or anything, it needs to stay legit.
3 replies
Deal Fanatic
Aug 21, 2007
5042 posts
274 upvotes
Markham
sure, it would basically be another separate sole prop
Deal Addict
User avatar
Nov 17, 2004
2210 posts
508 upvotes
It doesn't matter. You and the company are the exact same entity under 2 different names.

At the end of the day, it just means they're writing the cheque to your name and you deposit it into your personal account vs it being written to your company and depositing it into your work account.

At the end of the year, both the amount that goes into your business account and your personal account are files under your SIN as "other income".

There is no benefit in doing this unless it's because you don't want your business name to be associated with this particule job for some reason.
Sr. Member
Jul 10, 2005
754 posts
121 upvotes
Toronto
On your personal tax return there is a form called T2125. You can have as many as you need, one for each soleprop business you had that year.

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