The fact that you need to pay tax on your income may be annoying at first, but:
- You are complying with the law and do not need to worry about fines and penalties.
- You can deduct expenses that arise in connection with your streams, e.g. your new iPhone and entertainment expenses, as operating expenses. These expenses are offset against your income and reduce your net profit. This means that you need to pay less taxes. You only need to pay taxes on your profit, i.e. income, minus your operatingexpenses.
Note: Set aside evidence, such as sales receipts.
- Many professional providers, such as equipment sellers and advertising agencies, only work with verifiable professionals and registered contractors or offer lower prices.
- You can apply for subsidies or start-up grants on the basis of enhancing the quality of your work.