Paid consultancy: how to declare that income

Finance, Taxes, Banking, Insurance and Retirement
1
hi all,

I'm receiving quite often request from Marketing or Survey Companies to participated in 1-2 hours consultancy calls base on my area of work expertise.

The hourly rate/pay is quite good and the Company will pay the fee with a Bank transfer.

Now the topic/question is: being already employed with another Company, and declaring my income based on that, how will I justify these additional income to tax authorities? There will be a Bank Transfer, but no invoices from my side as I'm not Self Employed and don't have possibility to issue invoices.

Does anybody have any experience of similar cases?

thank you all

Regards

Taomorris

2
Get in touch with your Chamber of Commerce or AHV office and tell them you want to register as an individual company with an "Activité Accessoire" (don't know how you say this in German).

They will send you a questionnaire and (if approved) register you to pay AHV. You need to keep your accounts for next year's tax and the AHV office fees.

The AHV office will bill you quarterly for the AHV fees (based upon your estimated annual net consulting revenues).

3
I believe (don't know) that under a certain amount, you just declare it as additional income. The issue is when AHV is payable, rather than tax.

4
simply declare it as other income on your return.

5
SO I can get a payment and income without any invoice from my side?

6
How much money are you talking about?

7
80-100 USD per call, usually 1 hr.

8
You're undercharging....

9
I'm an altruist... :-)

but question was related to taxation actually..

10
I mean total a year, is it 1000 or 10000?

11
difficult to estimate, but let's say 1000 to 2000k a year

12
I'd be more concerned about declaring it to your employer. Where I work this type of "consultancy" is very verboten.

13
Is there a minimum for that? For example if I have been paid 20.- CHF, do I still need to declare it?

14
anyone else getting contacted by "Hudson Research Partners" offering $400/hr?

15
Sounds too good to be true.

16
exactly ! stay safe out there