Today, I woke up, opened my laptop, and spent three hours "fixing" the VAT percentages in my online store with digital products. I installed three plugins and even created a custom plugin with ChatGPT to address a VAT calculation for the customer. Only to find out that everything was correct already; I just had to check one box that says the VAT is included in the price. I guess I just panicked because I overthought it.
Then, I asked Chat when I should add my VAT number to an online purchase and what the consequences would be for the quarterly sales tax. He explained what happens if I enter my VAT number in the Netherlands, the EU, and the Rest of the World, as well as what would happen if I don't. Let's just say I learned a lot.
Boring stuff, right? Well, I guess my point is that I just started this cute little online business selling digital products that I created because I am a "creator." But who is going to teach me about tax? They make it easy for you to start an online business, but where does anyone explain how to handle your taxes?
This is not me complaining. I love it when I learn something new in my entrepreneurial life. I'm just saying this to let people know that there is more to it than just creating that one product. Think content creation: how do I show my product to the world? Think marketing: how does my content find people? Think tax: how much do I make, and how much do I pay?
I never went to school for this. I learned everything online, and that is the beauty of the time we live in. You can learn everything you want.
