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The toll book: simple records for side income
Lock keepers once kept toll books: every boat, every payment, every day. Side income needs the same plain habit, because small amounts are easy to forget until tax season.
Assume it counts
Side income is usually taxable, even when small or irregular. Some countries have thresholds or simplified regimes. Your tax authority's website explains the rules that apply to you. In Brazil, the Receita Federal has guidance on self-employed income and the MEI regime.
What to write down
- Date of the payment
- Who paid and for what
- Amount received after fees
- The platform's fee
- Related costs, with receipts kept
A weekly entry
Update the book once a week in one of your short windows. It takes ten minutes and saves days at the end of the year.
A separate account helps
Receiving side income in its own account keeps the record clean and shows at a glance whether the work is worth the hours.
Ask early
If you don't know how to declare the income, ask an accountant or the tax authority months before the deadline.
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