Accountancy

Steuern: How much in tax do you pay as a self-employed person in Germany?

Want to know what your tax burden in Germany is like? The exact amount depends on many factors. In this article, you’ll learn about the most common tax types that a self-employed person must expect. We explain which tax types are relevant for whom and how the tax burden is composed. Learn more about how …

Lohnsteuer: Get to know all about wage tax in Germany

What exactly is wage tax (Lohnsteuer), how is it calculated and how can the net wage be optimised? In this article, you’ll find basic information about wage taxes in Germany, how to report them, wage tax classes, wage tax compensation and net wage optimisation. Lohnsteuer: Definition Wage tax is an advance on income tax (Einkommensteuer) …

Jahresabschluss Checklist: How to manage your end-of-year accounting

How to prepare your annual accounts (Jahresabschluss in German) – a simple explanation. German business economist and coach Dagmar Meinz is offering us her best tips for your first Jahresabschluss. The Jahresabschluss give self-employed persons (Selbstständige) and entrepreneurs (Unternehmer) an overview of the previous year’s economic result and, above all, reports this to the tax …

Size classes according to the German Commercial Code (HGB): Rights and obligations for limited liability companies

The size classes (Größenklassen) defined in the HGB serve to regulate accounting and publication for incorporated companies (Kapitalgesellschaft). The larger a capital company is, the stricter the requirements for auditing and the more detail required when disclosing the business data. Here you can find out which size classes are available and which specifications you must …

Creating a Jahresabschluss (the German equivalent of an annual financial statement): What you need to know

Every businessperson must prepare a Jahresabschluss at the end of each financial year and a comparison of expenses and income for that year. The Jahresabschluss is similar to an Annual Financial Statement but is more aptly described as Annual Accounts as it differs in some ways from a typical annual financial statement. Here you can find out what you should know about preparing your business’s Jahresabschluss and what it must contain.

Accounting for a UG: How to do it yourself

If you want to do the accounting for your entrepreneurial limited liability company (UG) yourself, there are a number of things you have to stay on top of. Not only are you obliged to keep double-entry accounts, but you also have to prepare annual accounts every year. The following guidelines explain how to approach these …