What does full withdrawal mean?
Hi, a quick update: I'm working full-time and have built up a small business on the side. Naturally, there are a lot of start-up costs: signage, rent, electricity, gas, etc.
My tax consultant told me that I can fully deduct rent, etc. What does that mean for me, in other words, "fully deductible"? What percentage of it will I get back? Business is extremely slow, and income is currently approaching zero, so I'm asking so I can plan better :). Thanks!
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“Decompense” means that you can set the expenditure incurred in full in the calendar year as an issue – in contrast to things that need to be written off, which means that only part of the purchase costs can be distributed over several years (corresponding to the expected duration of use or the official requirement).
“Sales” means that the deductible amounts are deducted from taxable income. You then only pay income tax on the reduced amount.
This means that you will get the rent completely again, so if you have paid 600 Euro rent, you will get this amount back
No, that means that it can deduct 100% of the rent as operating expenses from operating income and thus lower its profit.
wow!
Then why does Siemens get the horrendous rents they do NOT pay back?
Why do you give an answer if you don’t know about taxes?
the tax office does not charge any costs!