As the others have mentioned, incorporating is the best if you want to protect your personal assets from lawsuits.
It's obviously too late for this year, so for now you only need to declare this income as business income on your personal income tax return. Remember to deduct your business expenses related to this income.
You don't have to pay EI or CPP on this income. It will be taxes at your marginal tax rate.
As the others have mentioned, incorporating is the best if you want to protect your personal assets from lawsuits.
It's obviously too late for this year, so for now you only need to declare this income as business income on your personal income tax return. Remember to deduct your business expenses related to this income.
You don't have to pay EI or CPP on this income. It will be taxes at your marginal tax rate.