Income tax is an important topic for everyone – both for private individuals and for entrepreneurs. But who actually has to pay income tax on what income? How high are the tax rates, and what else does the amount of tax depend on? This article will look at why income tax is charged, and when you may be eligible for exemptions and deductions.
How can I save on tax? This is an eternal question for the self-employed. In order to be well-versed in questions of tax, and improve your own financial situation, you need the necessary information: What taxes have you incurred? And what can be deducted from them?
Costs incurred during a business trip can be claimed back from the employer or in your own tax return. In order to do this, you need a detailed list of the individual costs in the travel expense report. But which costs can be claimed for tax purposes and to what extent? And what are the differences between business trips at home and abroad?
Pop-up shops: they usually disappear as fast as they appear. These are shops that are deliberately operated for a limited time and in which limited products are usually offered. A pop-up shop offers new entrepreneurs an opportunity to present themselves to customers for the first time and enables online shops to launch offline with less risk.
Double-entry accounting or double-entry bookkeeping is an essential part of the accounting system. Lots of entrepreneurs have a hard time with bookkeeping, when in fact it should be a boon and provide a detailed overview of your finances. Double-entry accounting isn’t an impossible undertaking. This guide explains the step by step fundamentals of double-entry accounting, and will turn you into a...
Facilitate the settlement of transactions with regular customers by combining regular deliveries or other services in a collective invoice. Periodic billing of this kind facilitates bookkeeping and saves time and money. Please refer to our article for the tax requirements that apply to the preparation of collective invoices.
Merchants pursuing trade activities are legally obliged to prepare annual accounts based on double-entry bookkeeping. The profit and loss account is an integral part of this, as it demonstrates just how successful a company was during a given financial year. When you close your nominal accounts, it is important that the structure and sequence of your profit-and-loss accounts abide by various...
How do I issue a credit note correctly? The credit note procedure saves time and effort, but what do you have to bear in mind with credit note entries? Credit notes are treated similarly to invoices, but you still have to make sure to file them correctly so there are no discrepancies in your accounting.
Subsidiary A is in financial difficulties, while subsidiary B has money at its disposal. Instead of accepting high debit interest rates and low credit interest rates, wouldn’t it be more practical to simply redistribute liquidity? With cash pooling, this is possible, but beware: You also have to follow certain rules when granting intra-group loans. Otherwise, you may face the threat of legal...
There are many different kinds of tax allowances, which can reduce the amount of tax you’re obliged to pay. Most taxpayers are entitled to tax exemptions that lower their tax bill so make sure you’re aware of the different allowances out there and see if you’re eligible for them.
A solid business growth strategy is paramount for any business owner. This category focuses on all the aspects that follow the establishment of a company; from business strategy and growth, to recruitment, bookkeeping, and taxes.