As an entrepreneur, you will also have to pay income tax on your annual income. It is therefore crucial that you calculate your income. Up-to-date knowledge of the fiscal laws and regulations and an understanding of what this means for your income tax are vital in this regard. Horlings’ tax advisors have this expertise.
Calculating your annual income
To calculate your annual income, the following things need to be taken into account as a minimum:
- Profit from company or your salary as a DMS
- Income from paying dividends from the public limited liability company
- Income from selling your shares in the public limited liability company, provided that the outcome was positive
- Private expenses and items
Profit from the business
When determining the profit from your business, a number of fiscal regulations must be considered, such as fiscal reserves, use of private assets, investments, research & development, maternity payments, etc. Horlings’ tax advisors know exactly what applies to you. Incidentally, the fiscal valuation may deviate from the valuation in your commercial annual documents.
Optimal income tax declaration
In addition to business financial data, private costs and items are also important. In order to know for sure how much income tax you need to pay, matters such as mortgage interest, maintenance allowance etc. also need to be taken into account. You can trust our expert tax advisors to turn the complex matter of private expenses/items and business financial administration into the most efficient income tax return.
Horlings, for expert tax advice
Income tax naturally has consequences for your financial situation too. Our advisors will work alongside you to ensure you compensate for this effectively. If you require support with the declaration and independent tax advice, please feel free to make an appointment.