Community

Income from a grant

LD
2024-04-23

Question

Hello,

I am a freelance journalist and recently received on a grant from a journalism fund to support my project. My question is: under which heading should I include this in my accounts and in Dexter? How much taxes am I paying on it? But also: on the one hand, the grant is compensation for my working time, but it is also to cover expenses for the project (petrol, hotel accommodation, etc.). Do I also have to include those costs in my accounts? Then I have the money from the grant as income and all the costs I cover with it as expenses, so that’s double entry.

There are different types of grants and subsidies. Some are taxable and others are not. If it is taxable, you should definitely stop it in your accounts. But in your example, I don't quite understand why you are recording it twice. You are recording the grant as income and the expenses for which the grant is intended as expenses. This means that the costs of that income are effectively included in your accounts. So it seems to me that this is exactly what it is intended for?

Hello!
Thank you for your response. I don't know whether that specifically grant (Pascal Decroos Fund for Special Journalistic Projects) is taxable or not. How can I find out? Through an accountant?

Same question here. Is there a special function for entering grants?

Ask a question
Ask your question to the Dexxter community with over 25.000 sole traders and verified Dexxter experts.

30-day free trial. No credit card required.

You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.

Community

Other questions from the community

Cost category

enter your wages

Use Dexter if you have double-entry bookkeeping

Is an order confirmation sufficient as accounting evidence?

Costs when closing a business

Can I see the profit per financial year in Dexxter?

Submitting training without a vAT invoice. How to do this?

vAT exemption or not as a starting marketing consultant?

How thoroughly does the tax office check invoices?

Unfortunately! Our community is currently only open to people who are starting a trial period on Dexxter

Unfortunately! Our community is currently only open to people who are starting a trial period on Dexxter