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I was thinking of getting a vasectomy, but maybe castration is a better idea!

The only turn off I've ever experienced was just a few weeks ago when a repeat SP had not freshened up. I could smell it on her and it was a total turn off. I won't three-peat with her!. Other than that one occasion, I have nothing to complain about.

i can live on just oral, so an invite would be much appreciated!

Re: chickens. JoyfulC said it best ... a lot of things we crave evaporate as soon as we ejaculate.

I'm not suggesting that each available hour will be assessed as a billed hour. If you get audited and you have no adequate records, the CRA will determine what your income was and to do so will rely on outside indicators, one of which could be your published postings and schedules on your website. If, say, you're on from 10 AM to 10 PM and indicate that you are fully booked, no auditor will assume that you billed 12 hours. He'll likely assume that you saw 4 or 5 clients. If you're only comeback to having posted that you were fully booked is that "fully booked" is a euphemism for "I'm hot" or "I don't feel like working for the rest of the day", good luck. And make sure you have not been reviewed on CERB or elsewhere for services delivered that day! If you keep detailed records, it will help, even if they don't have client names. And, here's a key consideration. If the CRA determines your income for the year was X the onus will be on you to establish that your income was other than as assessed. The earlier posts discussed the penalty for late filing (the 5% + penalty). Well, that assumes a return was filed. There are a number of other penalties that may apply if you are assessed by the CRA and have not filed a return (or reassessed where you have filed a return but the CRA disagrees with it). They apply in cases of one knowingly not filing or falsely filing a return or being grossly negligent. Some range from 50% to 200% of the tax which should have been paid. (Section 239 is a "criminal" type of infraction.) The late filed return penalty is peanuts relative to these penalties. Again, the voluntary disclosure program can deal with some or all of these penalties.

This is Part 2 of my uncompleted additional comments. My word total was over the limit. Part 1 dealt with the introduced the possibility of incorporating your business. Note I don't work for the CRA. I'm at the other end of the spectrum. You would have to decide whether you pay yourself a salary and if you do you would have to withhold source deductions (CPP and taxes) on the employment income you pay yourself. Whatever you paid yourself would be treated as employment income in your hands and taxed as such. The salary would be deductible to Ecstasy Co. - as would the other expenses it reasonably incurred to generate a profit. You could also forego getting a salary. To meet you personal cash needs, you would pay yourself a dividend instead. Dividends are subject to tax at much lower rates than employment income. Say Ecstasy Co's net income is 100k. Taxes would be 15k, leaving 85k after tax. If, say, you need 50k a year, you would cause Ecstasy Co to pay you a dividend of 50k. If you have no other sources of personal income, the tax on a 50k dividend would be a pittance - the top dividend rate is about 33% and it kicks in on income above 128k. (In fact if your only source of income is 30k of dividends, your tax bill would be close to zero.) Think of Ecstasy Co as your retirement plan; if it earns 100k per year and pays you a dividend of 50k, it keeps 35k on hand to invest. Add up the years and you have a retirement fund. If you go with this approach, you will have no "earned income", thus no contribution room allowing you to contribute to your RRSP. In other words, the accumulated savings in the company would have to replace your RRSP. The other consequence of going strictly with a dividend plan is that no contributions would be made to CPP. You would save both the employer's and the employee's contribution (about 4k). Of course, if you're not paying into the plan you will draw no CPP benefits when you reach that old age when your services will no longer be sought. (Some who are on a dividend plan pay themselves just enough salary to maximize CPP contributions and then pay the balance, if any is required, as a salary.) Keep in mind that the HST rules would apply to Ecstasy Co. - gross income in excess of 30k, you need to register, collect and remit HST. The cost to incorporate a company is about $1,000, at the low end, but not much more. Ecstasy Co would also have to file annual tax returns. The HST return would also be filed annually (depending on the income), although you could do so quarterly or monthly. It's a bit more paperwork, but it's worth it. O

Reading many of the preceding comments remind me of that old saying "no doctor is better than a half doctor". The following is not to be construed as legal or tax advice. Each of you should consult your own tax adviser in these matters. Some of what I'll address has been touched here and there, sorry if Im being repetitious. There are a few bombs no one's touched on. I'll blow them up for you in the words that follow. There are generally 3 sources of income under the Income Tax Act; investment, employment and business. Most SPs are carrying on a business. (Some who work for agencies are likely employees, but the agencies may view them and treat them as independents. I won't deal with those issues.) You can call yourselves, enchantresses, entertainers, flutists or sex therapists; no consequences flow from how you characterize yourselves; you're carrying on a business. (And your accountant doesn't give a hoot how you earn your living.) Regardless whether it's legal or not (and I'm not suggesting that any of what you do is not) it is taxable. The Canada Revenue Agency ("CRA") has in fact issued a pronouncement on the matter following an enquiry from an inquisitive taxpayer regarding escort services. In carrying on business you are entitled to claim any costs/expenses incurred with a view to earning a profit unless it is of a personal or capital nature. There is an overriding provision found at sec 67 that the expense has to be reasonable. In a pronouncement the CRA has stated its views regarding the deductibility of certain items pertaining to the sex trade. A taxpayer who ran an internet porn site wanted to know whether his wife's (the star of the site) toys and sexy clothes were deductible. I didn't go back to read it, but the answer was not black and white, other than the usual caveat about personal expenses not being deductible. The following are generalizations: clothes are generally of a personal nature. If an accountant buys a suit to look good for his clients, it's clearly not deductible. If he buys a gym membership to be fit and sane and ultra productive, it's not deductible. However, items which have no practical use outside your trade are probably deductible. I can think of dildos, whips, stripper shoes, condoms and K-Y (sorry I'm a newbie, so I don't know what you all need to buy). Garments, unlikely but some, perhaps. Hotel rooms, cabs; a pro rated portion of your house or rent expenses if you entertain there, clearly deductible if reasonably related to your income earning activities. Under the Tax Act (and other laws), you are required to maintain adequate books and records. Some of you have suggested that all receipts be kept. Of course you need to do so; how else can one substantiate deductions. But you need to keep the same type of records in respect of the top line; your revenues. In you're business that's a challenge! (In my opinion, it's unlikely that you would be asked to provided detailed revenue ledgers, but the law requires it.) Your gross revenues less expenses is your net income, which is subject to tax (there may other deductions and credits available, like RRSP contributions). Note that your net business income constitutes "earned income" which is the base to determine whether you can make contributions to an RRSP. There has been a lot of discussion about the brackets. It left me wondering whether some of you were referring to something to tie up a hobbyist on a chair! We have a system of graduated rates. If you earn income between A and B, you pay a rate of X on that income. Any income above B until you reach C (and only that income) is taxed at Z, a higher rate and so on. Someone posted the rates. However, as I recall, only the federal rates were posted. There are provincial rates as well. Very briefly, in Ontario, income to 10k is tax free, the next tranche to 40k, is taxed at about 24%, the next to about 80k is taxed at about 40%, the next to to 128k is at 43% and above at 46.41%. (These rates are not accurate, they are just averages. There are about 9 brackets in Ontario.) Here's one of the bombs. As a the operators of businesses, you are required to pay CPP, twice, being the employer's portion as well as yours. I don't have the specific dollar amount in my head, but the two add up to about $4,000 per year (that's the maximum, which all you full time SPs would hit - I can look up and post the income at which you hit the maximum if someone is interested). You don't have to pay EI. As stated, unless your income is subject to source withholdings (i.e. employment income where you employer deducts taxes, CPP and EI) you are required to make quarterly instalments - based on the prior year income. If you don't, interest applies on the deficiency, at the prescribed rate (fluctuates, but currently 1%) plus 4%, so 5%. It compounds on a daily basis. (Refunds attract interest at the prescribed rate plus 2%.) The same rate applies to unpaid taxes from the due date, being April 30. It is correct that you can file as late as June 15, but your taxes have to be paid by the end of April. If you don't file your return on the due date, there is a penalty equal to 5% of the unpaid taxes, if any, plus another 1% per month the return is filed late. (If you file late but all your taxes were paid, there will generally not be a penalty.) File 6 month late, you are looking at an 11% penalty; if you owed $20,000 ... do the math. I think there is a cap on the accumulating monthly %, but it skips my mind right now. I will come back to these penalties in a bit. Here's another bomb. Some have mentioned that credits would be available for HST paid on your hotel rooms and other expenses. That's correct, but the flip side of that is that everyone carrying on business in Canada is required to become a registrant for HST purposes. The only exception that may apply to you is that if you are a small supplier (not to be confused with a spinner) you don't have to register. Essentially a small supplier is one with less than 30k of annual revenues (not net income, but money coming in). If you are a small supplier, you don't need to collect and remit HST and you don't get a credit for HST paid on your expenses. We all know that most full time SPs exceed that threshold. The consequence of this is that if the guy gives you $220 for one hour of your services, you have in fact billed him about $195 plus HST of $25. Under the law, you have to file an HST return and remit the $25, well, all the $25 you are deemed to have collected! That in itself will cause quite a few of you to gag over the prospect of becoming legit after the fact. Some of you have suggested that maybe not all income should be reported, a bit like speeding; go over the speed limit, but be reasonable. I can tell you that in the unlikely event you are audited, it won't take physicist to figure out that you have under reported, if you have done so aggressively. Think of it; how many of you post on internet sites your daily availability "Hey guys, Sex Goddess is available from 10 am to 10 pm today" ... and then go on to post later in the day "Hey guys, I'm fully booked for the day!" Many of your posting are archived, some of you have thousands! I tell you, in no time, an auditor will log in to these sites and will extrapolate a DDD income for you. You should all be "legit" and I'm not suggesting any of you remain under the bed sheets. However the decision to become legit is a difficult one, particularly if you have not been filing tax returns for a number of years. Say, you are 30 and have been in the business for 5 years without ever having filed a tax return. (All your unreported years are open for assessment at any time; there is no limitation period.) If you file one this year, there is a possibility that you will receive a letter asking you to file a return for prior periods. This could be disastrous. Remember the penalties for unpaid taxes related to un-filed tax returns? Go back 5 years, and you will have more penalties and interest than you can handle - msog! The risk is much less if you have been filing tax returns, perhaps reporting income from a part time job. In addition, if you have filed a return, the penalties for un-filed returns won't apply. None of you is likely interested, but the CRA has a voluntary disclosure program. Essentially, you contact the CRA and advise them you wish to disclose prior years' unreported income. The benefit of the voluntary disclosure is that the CRA will waive all penalties. You'll still have to pay the taxes and interest, though. We live under a self assessment system; in other words we report the income we have earned. The CRA has nowhere near the resources to look into the affairs of all residents; like the speeding the laws, there are only so many cops on the road. The few who do get caught pay the price. I apologize if any of you momentarily lose the ability to climax. O Additional Comments: I re-read my last post and other than noticing a few typos, it dawned on me that I was remiss in not addressing a tax planning tip you may wish to consider. Again, this is not advice and you should consult your own advisor in these matters, but this is what I would do. (The rates discussed below pertain to Ontario, but other provinces have similar rates.) Part 1 I would do like many other professionals; doctors, lawyers, accountants etc.; I would incorporate my business. (I'll refer to it as "Ecstasy Co") That type of business income would be eligible for the small business rate, which is about 15%. (It almost doubles for income over 500k, but only for the income in excess of 500k.) Say Ecstasy Co's net income is $100,000, its tax bill would be $15,000. Part 2 follows Additional Comments: need someone to reply so i can add part 2