We only handle corporate tax for clients who have us manage their entire company administration. We do not perform separate filings for clients who have already prepared their own balance sheet and income statement. This policy is in place because we are responsible for all filings. We cannot adequately verify the balance sheet and income statement if we have not prepared them ourselves.
We only handle income tax returns for clients who also have us manage their business administration. We do not handle individual income tax returns separately. However, we can handle the income tax returns of partners of entrepreneurs.
To qualify for the KIA, you must have invested at least €2,600 in the past year. An expenditure is considered an investment only if it costs more than €450 and is used over multiple years, such as a laptop, camera, or printer. If you add up all expenses above €450, you must exceed the threshold of €2,600.
At the end of the year, you can assess whether you meet this threshold. If you fall just short of €2,600, it may be advantageous to make investments for the next year now. If you are certain you won’t reach it, consider making the investment in January to increase your chances of benefiting from this scheme in the next calendar year. Try to invest as much as possible in one year.
Have you made investments in December that might have been better placed in January? Consult with us for advice.
Some points to consider:
- A passenger car is not considered an investment for this scheme.
- If you have to pay VAT, all the amounts mentioned above are exclusive of VAT.
- If you are exempt from VAT or use the VAT Small Entrepreneurs’ Scheme (KOR), all the amounts mentioned above are inclusive of VAT.
- The specified amounts are specific to the fiscal year 2023. Different threshold amounts may apply to other years.
Business expenses that are typically deductible include costs for business travel, office supplies, marketing expenses, employee salaries, rent expenses, and various other operational costs. When in doubt, please consult your accountant.
Certainly, it is crucial that you inform us if you receive benefits. Specific rules apply when combining benefits with business administration. As accountants, we need to consider these regulations. For instance, it may be mandatory to send monthly profit statements to the relevant authorities.