I've got a lot of bits and ad revenue on Twitch over the past week (total: 427 euro - not yet paid out).
I now want to know - what do I have to do now?
Do I have to register a business?
Do I have to get a tax advisor?
Do I have to report to the tax office?
what should i do to be on the safe side.
I don't know… Unfortunately, you don't learn that at school
Yes
not necessarily
yes - tax return
Nothing. You first have to register a business if you regularly earn over 150 euro a month with it
This means that I only have to register a trade when I get the second time
Unfortunately not true
Thank you very much.
So do I have to register a business first and then do a tax return?
when do I have to file this tax return?
You do a tax return once a year. With the registration for the trade you have to make a declaration anyway.
Your total income and whether you have a regular inflow of money (income) count anyway
Anything over 150 euro earned must be taxed. If this is unique now, nothing would come of you. If you should earn more than 150 euro on a regular basis, sooner or later you would be charged with tax evasion.
Thank you that was very helpful
Pay taxes: YES
You don't need to register yet. Tax return is the saying here.
As for the payout from Twitch, I would strongly advise you to do it via a bank transfer directly to your account or to keep the earnings on Twitch. Personally, I always keep it until I have 500 full and then pay something out every two three months.
Twitch takes a relatively good happen so it's not worth it for me to cash out every time it exceeds $ 100!
Nonsense! As soon as a profit-making activity is carried out, this must be registered regardless of the amount of income.
This is totally wrong. Trade law does not recognize any allowances. Even those who make a loss must have registered a trade.
If you want to earn money this way, you have to register it as a trade right from the start. Whether profits are actually made and when they are paid out is completely irrelevant.
Every business person receives mail from the tax office after the business announcement and has to submit a tax return the following year. This is where the final decision as to whether taxes are to be paid.
You don't need a tax advisor yet.
