Accountancy

How to lower your tax bill in Germany: Tax optimisation with holding structures

Contents Holding structures for SMEs Splitting up a company Case study: Forming 4 UGs in 40 minutes Advice from experienced entrepreneurs An insider tip for selling a company Would you like to know more? [BEGIN: Insert an Image between this tag] [END insert Image] I can help you set up a holding structure I’m …

Doppelte Buchführung: Your guide to double entry bookkeeping in Germany

What exactly is double-entry bookkeeping? As the name suggests, doppelte Buchführung is the double-entry method of bookkeeping that involves entering each business transaction into two different accounts. Double-entry bookkeeping involves significantly more effort than single-entry bookkeeping, but it also provides more transparency, as discrepancies are much more noticeable. Each transaction is recorded in the debit …

Einfache Buchführung: What you should know about single-entry bookkeeping

Einfache Buchführung: Who can use single-entry bookkeeping? Type of self-employment Single-entry bookkeeping allowed Traders (Gewerbetrieb) not entered into the commercial register (Handelsregistereintrag) in two consecutive financial years: yearly revenue < €600,000 and/or profit < €60,000 Farmers and foresters (Land- oder Forstwirt) in two consecutive financial years: profit < €60,000 and/or economic value of land < …

Master List: Accountancy

Want accounting and taxation in Germany explained to you in plain English? You’ve come to the right place! From tax optimisation strategies for your company to a primer in EOFY accounting, get your German business education here. All the articles have been categorised (see the contents below) and linked for ease of navigation. We hope …

Einnahmenüberschussrechnung (EÜR): Everything you need to know about the profit and loss statement in Germany

Contents The basics Dealing with VAT Who can prepare an EÜR? What to consider The EÜR & your tax return EÜR vs. a balance sheet Data transfer EÜR submission FAQs Small business regulation Accounting on an EÜR basis: The basics The Einnahmenüberschussrechnung is a simplified type of profit calculation. In Austria, the EÜR is also …

Steuerminderungen: What’s tax deductible for a self-employed person in Germany?

Contents Key terms What can you deduct as business expenses? Using depreciation properly Making use of flat-rate tax allowances Using the investment deduction amount What are the typical costs that are tax deductible? Want to know more about accounting rules? Some German tax terminology Selbstständige (the self-employed) in Germany can benefit from many tax …