Side-Hustle and Taxes

Badomb

Badomb

Member
Any hints on how to declare income/taxes from side-hustle (say, I am selling apps via AppStore)

- What thresholds are there? (I should do X when I hit $Y/revenues, AHV etc.)
- When filling the taxes - will I be moved to the special tariff, like having two jobs?
- Any other hints?

This is what my eTax dashboard looks like if you are familiar with it.1739881673161.png
 
The threshold is indeed in the article.

From my experience, you will not be moved into a special tariff. For multiple years, I had the blog as side income on my tax declaration. I did a rather small Excel spreadsheet (would recommend Banana now instead) for the blog accounting and added it as PDF to the tax declaration. I never had any issue with that.

There is not much to it, at least in Fribourg.
 
Thanks! Why would you use Banana at all instead of XLS? I also use Expensify for my expense tracking. Do expenses play the role in simple declaration, say I do 5K/year? Or only profits (what landed on my accounts).
 
Badomb said:
Why would you use Banana at all instead of XLS?
Click to expand...
It can generate much more professional accounting reports. Additionally, they have many interesting visualization and filters. But if you do something really adequate with proper categories in Excel, I don't think you will have any problem.
Badomb said:
Do expenses play the role in simple declaration, say I do 5K/year? Or only profits (what landed on my accounts).
Click to expand...
Yes, they do. As long as the expenses are related to the business, you can deduct them from your earnings and report the net profit.
 
This is useful, thanks, Baptiste. I was thinking you can only deduct if you are GmbH. Of course there are tools and hosting and Apple Developer license and marketing tools and budgets. Cheers.
 
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