I do apologise if this has been asked before - I’ve been searching Google for a while, but can’t find a definitive answer. I’m looking into my taxes and am wondering at what point I calculate my profits.
I know that the 20% I don’t include as I never see it in any of my accounts, however, once my earnings are moved out of Fiverr to my bank account or Paypal, there are further reductions (fees).
Do I take those reductions into account, and calculate my profit based on what appears in my Paypal / Bank account? Or do I calculate my profit based on what was in my Fiverr originally, and include transaction fees in my business expenses? OR, do I just need to eat up the transaction fees with no tax relief?
Any help appreciated