Tax Tips for the Self-Employed

Saving taxes – a guide for the self-employed

 

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?

 

Advance tax payments

What are advance taxes?

Advanced tax payments need to be estimated and paid four times a year. But who needs to make these payment and who is exempt? How do you estimate how much you have to pay? The answer to these questions can be found in this accountancy article - make sure you don’t land in hot water with the IRS.

Cash pooling

Cash pooling: liquidity bundling within a company

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...

Tax exemption

Tax exemption: How to reduce your tax liability

There are many different kinds of tax exemptions, which either reduce or entirely eliminate your obligation to pay tax. Most taxpayers are entitled to tax credits that reduce their tax bill in the same way that deductions do. Many organizations and groups such as charities are even totally exempt from income tax by the federal and state governments.

EBITA

What is EBITA?

EBITA is a financial indicator that can make business planning easier for you. This value masks items that do not directly influence the operational success of your company. Many large corporations work with this indicator because it makes it easier to compare international companies. What exactly is EBITA, and how does EBITA calculation work?

Direct and indirect tax

Direct and indirect taxes

You may have heard of direct and indirect taxes, but do you know what the difference is between the two tax groups? For example, is income tax a direct or indirect tax? What are the most important direct and indirect taxes? This article will tell you everything you need to know about these two groups of taxes.

Market analysis: definition

Market analysis – the definition

Whether you are starting a company, exploring your current market, or discovering a new one, a market analysis can help you evaluate the attractiveness of a market. A market analysis is a key element of every business plan and makes sure that your idea or your plan is fit for the future. Above all, investors attach a lot of importance to a thorough market analysis.

Limited partnership profit distribution

Limited partnership profit distribution: basics and examples

Limited partnerships make it possible to participate in a company with limited liability, making it easier to secure investors. Limited partnerships also have advantages when it comes to profit distribution: If you don’t want to follow the legal model for distributing annual profits and losses, you can make your own regulations in your company’s articles of association. In this way, factors like...

Outsourcing

Outsourcing

Are time-consuming tasks interrupting your workflow and that of your employees? You can outsource routine tasks such as e-mail archiving, but also tasks which require a high degree of specialism, to external companies. This allows you to focus on your core competencies while at the same time saving costs. So, is outsourcing a workable strategy for your company?

Annual financial statement

Annual financial statements – an overview of the financial year

For publicly traded companies, annual financial statements are due at the end of the year. This report allows you to present your company’s financial situation to the public, answering questions like: How high is your balance sheet profit? What is the composition of income and expenses? What risks will investors be taking if they want to work with you? Drawing up an annual financial statement will...

Grow Your Business

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.


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