Side income in photography hobby: is accountancy needed?

[mardy]

Hi all!
I'm currently employed by Nokia as a software developer, but as a hobbist photographer I might get some chances to get some paid jobs and earn a little money. We are talking about a ridiculously low amount (as I'm doing mostly free works for my own pleasure) -- I'm quite confident I won't make more than 500€ per year, not even enough to pay back the costs of my expensive hobby.
I'm not even sure I want to ask for a fee, but in my website I might just suggest an offer in the measure that the "customer" liked the final photos. But it mostly depends on how this side income is regulated by the law.

So, my question is: what actions do I need to take before starting such a "business"? Do I need to keep accountancy for the money I get, or can I just sum it up to my Nokia income and pay taxes on the whole yearly income? And what if I decide to go for this "free offer" service?

Needless to say, I don't care about VAT deductions for the photographic equipment I might need buy -- I still consider it my hobby.

Thanks for any advice
Alberto

[Rosamunda]

My understanding is that you are not required to set up a business (toiminimi or Oy etc) you can just run it as a business and add any income to your salary. You should keep a record of incoming cash and receipts of purchases though (a petty cash book is enough), just in case the tax man asks questions. I suggest you send an email to www.intofinland.fi or call Vero just to get confirmation of this.

A lot of people make money from non-salaried activities (like selling handicrafts, buying/selling from flea markets and on huuto/ebay etc etc) and declare it in this way (or not )

[Jason Wright]

Hi all!
I'm currently employed by Nokia as a software developer, but as a hobbist photographer I might get some chances to get some paid jobs and earn a little money. We are talking about a ridiculously low amount (as I'm doing mostly free works for my own pleasure) -- I'm quite confident I won't make more than 500€ per year, not even enough to pay back the costs of my expensive hobby.
I'm not even sure I want to ask for a fee, but in my website I might just suggest an offer in the measure that the "customer" liked the final photos. But it mostly depends on how this side income is regulated by the law.

So, my question is: what actions do I need to take before starting such a "business"? Do I need to keep accountancy for the money I get, or can I just sum it up to my Nokia income and pay taxes on the whole yearly income? And what if I decide to go for this "free offer" service?

Needless to say, I don't care about VAT deductions for the photographic equipment I might need buy -- I still consider it my hobby.

Thanks for any advice
Alberto

Hi Alberto,

I recommend you contact Jari Parkkonen, he is an accountant that could advise you. Jari is a personal friend and advisor who has been serving the expat community in Helsinki for many years. He is located in central Helsinki near Kamppi.

http://www.tilitoimistoparkkonen.fi
jarip @ tilitoimistoparkkonen.fi
GSM 050 5292 879

Tilitoimisto Parkkonen Oy - Fredrikinkatu 55, 4 krs, 00100 Helsinki