Ok, I never thought I’d see this day but: I needed to find out how to pay taxes for my online income *lol*
I think in the USA you have a limit of fivehundred-something Dollars that you may earn online anually without having to pay taxes. That is great (and what are you doing when you earn more???) but I am not living in the US *sigh* And I will probably earn more than that this year – for the first time in over 15 years *lol*
So, it is kind of a “Hurray” and “Oh no!” moment at the same time for me ^^
I tried to find some information online with the help of my good old pal Google. Forget it! Many people try to be helpful and write comments in forums like “Yes, I think you are allowed to earn €400 per year but I don’t know whether that is true…” or “Ask your collection office”.
Guess what I just did? I phoned my local collection office and they were really helpful.
I found out that there is no such limit of €400. They say that if you do it for a hobby and for fun only, and don’t make a profit with it, it is not really important and don’t worry… best example would be someone who crochets and sells the items on local markets and online – you don’t really earn much and you are glad when you can buy new material from the money you earned.
But earning money online without real investment… mhh, that’s not officially a hobby because you earn from it
The good news is though, that when I am done with my official business registration, I won’t have to pay taxes. Isn’t that funnily illogical? ^^ I need to register my business in order to tell them each and every year that I have earned less than €17,500 and then it is ok – zero taxes. Strange logic but if it helps… ok… don’t mess with German public servants…
So, wish me luck… I wonder whether I will be able to choose a name for my business *lol*
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- ‘Google IS a capitalist country… er, company’ (go.theregister.com)
- US senators accuse Apple of using Irish arm to avoid tax (independent.ie)
- Apple says taxes are for the little people! (adscam.typepad.com)