Net income
The miller's toll on side income
The price a client pays isn't what you keep. Several small costs come out first, and together they can be a large share.
The usual scoops
- Platform fee: the share a marketplace or app keeps
- Payment fee: charges for receiving or withdrawing money, including currency conversion
- Tools and materials: software, supplies, postage, fuel
- Tax: the part you should set aside for your tax authority
Work out your own toll
Take one month of side income. Add up every cost from the list above. Divide the costs by the income to see what share the "miller" takes.
Use it when pricing
If your toll is 40%, a job paying 100 leaves about 60. Decide whether that's worth the hours before you accept.
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