4 ms·

For me it is not really clear this passive income stuff in terms of tax laws and relation with employer. Now I am based in Netherlands and my employer put in t

by ozim 13y ago

For me it is not really clear this passive income stuff in terms of tax laws and relation with employer. Now I am based in Netherlands and my employer put in the contract quite big fines for anything I would do on my own or for some other party. So I would have to get written consent from my employer, this one is clear. But for anyone else check your contract ;) Second thing is for instance you get money from Android app, or from users. How would you go with taxes, you have income so you have to pay taxes. Beeing sensible for some beer money they won't get after you. But having 1000 euros a month could lead to some nasty stuff like questions where did you got that money and why you didn't tell to your beloved country... I think all those passive income gurus are not mentioning a word about this side of things. Does anyone has any experience on legal side of passive income? Charge in bitcoins only? :D

pc86 13y ago
And people talk about America's employment laws? It blows my mind that something you do at 11 PM on a Saturday night can be claimed by your employer (yes, I know there are some companies in the US that do this). Regarding your question about taxes, you would just... pay the taxes. If you're not comfortable doing your own (I don't know the tax climate in the Netherlands) you would just pay an accountant. I have a CPA here in the states so I just give him all my information in January/February and he lets me know what I need to pay or what I can expect back.
- yukkurishite 13y ago
  Pretty sure this is an isolated example. Also dutch here, I'm not allowed to make anything that is a direct competitor; but that's it.
jakubgarfield 13y ago
I'm from the Czech Republic so I'll tell you how would that work here. Each year you have to submit a tax return - a paper where you admit how much money you earned in the last year. If you are an employee and you have just one source of income, it's usually done by that employer. If you would have another income (there is also some treshold) you have to do it yourself and add this income to your salary and pay taxes. It's not that complicated.
jasonkester 13y ago
An individual reporting business income is pretty straightforward, and not at all uncommon. Certainly not enough to try to dodge taxes for or alienate 99% of your user base with some silly nerd currency. Go to the website for your country's equivalent of the IRS and read up on it. For anybody in the US, it's just a matter of answering "yes" to a question in TurboTax.
QuasiAlon 13y ago
Can't do that in Israel either. "Time and attention" clause is standard in contracts for workers in the high-tech industry.

by ozim 13y ago

pc86 13y ago

And people talk about America's employment laws? It blows my mind that something you do at 11 PM on a Saturday night can be claimed by your employer (yes, I know there are some companies in the US that do this). Regarding your question about taxes, you would just... pay the taxes. If you're not comfortable doing your own (I don't know the tax climate in the Netherlands) you would just pay an accountant. I have a CPA here in the states so I just give him all my information in January/February and he lets me know what I need to pay or what I can expect back.

yukkurishite 13y ago
Pretty sure this is an isolated example. Also dutch here, I'm not allowed to make anything that is a direct competitor; but that's it.

jakubgarfield 13y ago

I'm from the Czech Republic so I'll tell you how would that work here. Each year you have to submit a tax return - a paper where you admit how much money you earned in the last year. If you are an employee and you have just one source of income, it's usually done by that employer. If you would have another income (there is also some treshold) you have to do it yourself and add this income to your salary and pay taxes. It's not that complicated.

jasonkester 13y ago

An individual reporting business income is pretty straightforward, and not at all uncommon. Certainly not enough to try to dodge taxes for or alienate 99% of your user base with some silly nerd currency. Go to the website for your country's equivalent of the IRS and read up on it. For anybody in the US, it's just a matter of answering "yes" to a question in TurboTax.

QuasiAlon 13y ago

Can't do that in Israel either. "Time and attention" clause is standard in contracts for workers in the high-tech industry.