Income

A common question: how do I record a grant, fund or other form of income in my records? Easy, just record it as income.

Create an income statement

Grants and stipends are part of your revenue, so you may add them to sales with "an invoice" you create for your internal records. You do not send this one. Don't forget to upload your proof in the process.

VAT

A grant is usually untaxed because no consideration is required. As a result, they are VAT-free.

Now this is only relevant to whether the revenue is taxed for sales tax purposes. This income is, however, taxed for income tax purposes. This is because they are income earned in the context of your business, or self-employment. As a result, they contribute to your profit from business or result from work.

Uitgaven

Expenses you incur for the grant are business expenses. So even though you get reimbursed for expenses from the grant provider, you do incur expenses. So you may put the expense in The Bookie Webapp.

> Add an expense

> Add a foreign expense

Related income - Cases from Bookie Bosses

Not all grants come from a Dutch or European fund. You also have private patrons. For example, you have a platform like Patreon that also funds as a subsidy.

Patreon

QUESTION I have a Patreon account, where people can contribute money to support the podcast I am making. What do I do with taxes? This is a link to the info from Patreon himself

ANSWER You are only dealing with Item 14, second part. You are of course a creator within the EU, so you don't seem to have to pay VAT on it because Patreon already does this for you. All you have to do is tell your Bookie how much income you have from Patreon. You then draw up an invoice in The Bookie Webapp to yourself. This can be done per month, quarter or year. I just made a note that no VAT has to be paid on it.